Coffee Day Enterprises said it would take a few more weeks for it to complete the probe into the circumstances that led to the sudden death of its founder V.G. Siddhartha and therefore, there would be a delay in the submission of its financial results.
“The said assignment is under progress and is likely to take a few more weeks for completion. Hence, there will be a delay in submission of unaudited financial results (with the limited review by the auditor) for fiscal Q1 ended June 30, 2019 and Q2 ended September 30,” said the company.
The company, in August last year, had appointed Mr. Ashok Kumar Malhotra, retired DIG of Central Bureau of Investigation (CBI), to run a scrutiny into the circumstances leading to the statements made in the letter of its late chairman.In Q2, the company posted a consolidated revenue of ₹843 crore, a year-on-year decline of 14%. Its net loss after tax stood at ₹154 crore.
Earnings before interest, tax, depreciation and amortisation also fell 69% to ₹67 crore.
The cafe business arm, Coffee Day Global, saw 5.5% fall in retail net revenue to ₹356 crore while its net loss stood at ₹73 crore.
