However, because of impairment made on the acquired businesses to factor in more conservative value-in-use assumptions, Salt Investments' net loss widened from $6 million to $13.38 million.
Salt Investments has reported revenue of $14.69 million for the year ended March, an increase of 589% y-o-y, due to contributions from newly acquired businesses.
Prior to the acquisitions of lubricant distributor TT Oil and Prosper Excel Engineering, the company had barely any functioning business activities.
Gross profit following the acquisitions, as a result, increased by 814% to $1.98 million.
