New Delhi, Feb. 6 -- GMM Pfaudler, which manufactures corrosion-resistant glass-lined equipment, released its financial performance for the December quarter today, reporting a net loss of Rs.8 crore. It had reported a net profit of Rs.41.48 crore in the same period last year.

The decline in net profit was largely due to one-time provisions, including a Rs.12.7 crore provision related to the implementation of new labour codes at GMM Pfaudler India and a Rs.43.6 crore provision for severance and retiral benefits linked to workforce reduction at its German subsidiary, Pfaudler GmbH, according to the company's earnings filing.

On the top line, the company reported consolidated revenue from operations of Rs.883.50 crore, a 10.23% improvement...