Altico Capital India Ltd, which defaulted on interest payments in September reported a net loss of Rs 368.12 Cr for the first half of financial year ended 30 September. In the same period last fiscal, the as per company’s report a net profit of Rs 160.47 crore, it said in a filing to the stock exchanges. During the six-month period, Altico Capital’s total income rose 4 per cent year-on-year to Rs 608.62 crore.
Following the default on interest payments, the company has received loan recall notices amounting to Rs 2,218.13 crore from various lenders till date, Altico said. “The overdue principal amount as of November 13, 2019, is Rs 507.90 crore out of which Rs 409.04 crore is included in the aforementioned recall amounts, ” it said.
As of 30 September, the company’s outstanding debt stood at Rs 4,370 crore. It is currently in the process of a debt resolution plan through which it is looking to monetise its assets to repay the debt.