Alok Industries Loss Widens to Rs 262 cr in Q2
By Rediff Money Desk, New Delhi Oct 14, 2024 16:18
Alok Industries reported a widened net loss of Rs 262.10 crore in Q2 FY25, with revenue falling 35.46% to Rs 885.66 crore. The company's total expenses also declined in the quarter.
New Delhi, Oct 14 (PTI) Textile manufacturer Alok Industries on Monday said its consolidated net loss widened to Rs 262.10 crore for the second quarter ended September 2024.
The company had posted a net loss of Rs 174.83 crore in the July-September period a year ago, according to a regulatory filing from Alok Industries, jointly owned by Reliance Industries and JM Financial Asset Reconstruction.
Its revenue from operation fell 35.46 per cent to Rs 885.66 crore during the period under review. It was Rs 1,372.34 crore in the corresponding period a year ago.
The total expenses in the September quarter declined 25.45 per cent to Rs 1,160.63
Alok Industries' total income, including other income, was down 34.97 per cent to Rs 898.78 crore in the September quarter.
Reliance Industries owns a 40.01 per cent stake and 34.99 per cent by JM Financial Asset Reconstruction Company in Alok Industries, which operates in-home textiles, cotton yarn, apparel fabric, garments, and polyester yarn.
Shares of Alok Industries Ltd on Monday settled at Rs 24.62 on BSE, down 2.50 per cent from the previous close.
The company had posted a net loss of Rs 174.83 crore in the July-September period a year ago, according to a regulatory filing from Alok Industries, jointly owned by Reliance Industries and JM Financial Asset Reconstruction.
Its revenue from operation fell 35.46 per cent to Rs 885.66 crore during the period under review. It was Rs 1,372.34 crore in the corresponding period a year ago.
The total expenses in the September quarter declined 25.45 per cent to Rs 1,160.63
Alok Industries' total income, including other income, was down 34.97 per cent to Rs 898.78 crore in the September quarter.
Reliance Industries owns a 40.01 per cent stake and 34.99 per cent by JM Financial Asset Reconstruction Company in Alok Industries, which operates in-home textiles, cotton yarn, apparel fabric, garments, and polyester yarn.
Shares of Alok Industries Ltd on Monday settled at Rs 24.62 on BSE, down 2.50 per cent from the previous close.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.85 ( -4.49)
- 60128195
- Vodafone Idea L
- 9.10 ( -0.87)
- 30647821
- Standard Capital
- 1.51 (+ 19.84)
- 30506923
- SRU Steels
- 8.11 ( -9.08)
- 27907590
- Rajnish Wellness
- 2.91 ( -8.20)
- 27783162
MORE NEWS
Sebi Monitors Market Infra Shareholding: New...
Sebi introduces a framework to monitor shareholding limits, public shareholding...
Saatvik Green Energy Wins Rs 302 Cr Solar...
Saatvik Green Energy has secured a Rs 302 crore contract to supply 200 MW of solar...
Gold Hits All-Time High in India: Rs 78,700 Per...
Gold prices in India reached a record high of Rs 78,700 per 10 grams on Monday, driven...