Religare Technova Q3 net loss at Rs 8.57 cr

Diversified group Religare Technova Global Solutions said its net loss for the quarter ended December 31 stood at Rs 8.57 crore.

Diversified group Religare Technova Global Solutions on Wednesday said its net loss for the quarter ended December 31 stood at Rs 8.57 crore.

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However, the company had a net profit of Rs 1.08 crore for the same quarter FY'08, Religare Technova Global Solutions said in a filing to the Bombay Stock Exchange.

The company has posted a total income of Rs 3.62 crore for the quarter under review, while it had a total income of Rs 5.75 crore for the same quarter last fiscal.

"The company has entered into an agreement dated December 31, 2008 ( effective from January 1, 2009) with OliveRays Innovations to acquire the entire stake in the company. Consequently, figures for the quarter and month ended December 31, are not comparable," the filing added.

Shares of Religare Technova Global Solutions settled at Rs 12.65, down 4.89 per cent on the BSE.