Fairfax India Sv Usf (TSE:FIH.U) has released an update.
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Fairfax India Holdings Corporation reported a significant net loss of $293.5 million in Q1 2024, a substantial increase from the $55.5 million loss in Q1 2023, with a considerable drop in book value per share from $21.85 to $19.65. The loss is mainly attributed to unrealized losses on investments, notably in key listed investments like IIFL Finance and CSB Bank. Despite these losses, the company maintains robust financial health with cash and marketable securities totaling approximately $210 million as of March 2024.
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