A macroeconomic crisis-filled third quarter October to December 2018 has triggered a Rs. 327 million loss at Softlogic Holdings PLC, as against a profit of Rs. 953 million a year earlier, whilst for the first nine months the Group post-tax profit managed a 29% gain to cross Rs. 2 billion mark. Softlogic Chairman Ashok Pathirage said the Group’s operating environment in the third quarter of FY19 was assailed by the sudden and steep depreciation of the rupee, particularly, affecting the retail imports and the leisure sector which has dollar-denominated borrowings. Furthermore, the 100% cash margin imposition, which affected the retail imports, and 200% margin for motor vehicles and motorbikes, disrupted cashflow timings leading to increased working capital requirements. - Daily Ft

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