Advertisement
Monday, Nov 29, 2021
Outlook.com
Outlook.com

Alok Industries Reports Consolidated Net Loss Of Rs 84.11 Crore In Q2 Earnings

Alok Industries had reported a net profit of Rs 4,798.64 crore in the July-September period a year ago.

Alok Industries Reports Consolidated Net Loss Of Rs 84.11 Crore In Q2 Earnings
Alok Industries Reports Consolidated Net Loss Of Rs 84.11 Crore In Q2 Earnings
outlookindia.com
2021-10-19T09:52:39+05:30

Integrated textile company Alok Industries Ltd on Monday reported a consolidated net loss of Rs 84.11 crore for the second quarter ended September.       

The Mumbai-based bankrupt company, which was acquired by Reliance Industries along with JM Financial Asset Reconstruction through NCLT-monitored insolvency proceedings, had reported a net profit of Rs 4,798.64 crore in the July-September period a year ago.       

Revenue from operations climbed over two-fold to Rs 1,904.57 crore as against Rs 813.07 crore in the corresponding period of the last fiscal, Alok Industries said in a BSE filing.

Total expenses were at Rs 1,994.36 crore, up 95.80 per cent from Rs 1,018.54 crore earlier.

The company had exceptional gains of Rs 5,021.77 crore in Q2 FY21 as the corporate insolvency resolution process was concluded in the previous year.       

“Though the Holding Company has incurred a loss of Rs 74.52 crore (standalone) for the quarter and Rs 166.95 crore for the half-year ended September 30, 2021 and has accumulated losses of Rs 20,393.76 crore as on that date, its current assets exceed its current liabilities by Rs 201.75 crore and it has earned EBITDA of Rs 123.07 crore for the quarter and Rs 226.61 crore for the half-year ended September 30, 2021," it said.  

(With PTI Inputs)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Heavy Fines, Media Gag: Maharashtra Learns From Past As It Gears To Tackle Omicron

Heavy Fines, Media Gag: Maharashtra Learns From Past As It Gears To Tackle Omicron

Maharashtra CM Uddhav Thackeray has instructed all the ministers in charge of the districts to tighten coordination with the local administration to ensure proper prevention of another Covid-19 outbreak.

Omicron Shows Why Countries Need To Start Sharing Their Vaccines

Omicron Shows Why Countries Need To Start Sharing Their Vaccines

'Despite the repeated warnings of health leaders, our failure to put vaccines into the arms of people in the developing world is now coming back to haunt us', wrote former British PM Gordon Brown.

Iyer Plays Down Record, Says 'Important Thing Is To Win Match'

Iyer Plays Down Record, Says 'Important Thing Is To Win Match'

Shreyas Iyer hit 105 and 65 against New Zealand to become the first Indian batter to score a century and half-century in his debut Test match.

Covid-19: Experts' Take On Omicron And Possibility Of Third Wave In India

Covid-19: Experts' Take On Omicron And Possibility Of Third Wave In India

Though the health experts and scientists in India have advised caution yet they feel that the current immune profile of the majority of the population in India makes them less vulnerable to Omicron as compared to any other country in the world.

Advertisement