Published on 15/11/2017 11:53:52 AM | Source: Dion Global Solutions Ltd

Alok Industries posts Q2 net loss of Rs 5507.28 cr

The company reported standalone net loss during the quarter stood at Rs 5507.28 crore as compared to net loss of Rs 527.71 crore in the previous year quarter. Net revenue of the company declined substantially by 59.53 per cent at Rs 794.58 crore in July-September quarter of this fiscal as against Rs 1,963.61 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 95.43 per cent to Rs 4,269.43 crore from Rs 2,184.64 crore in year ago period. Other Income grew by 69.08 per cent at Rs 57.10 crore versus (Sep'16 Rs 33.77 crore).

Operating Profit surged by 1653.03 per cent to Rs -3,474.85 crore as against Rs -198.22 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 4234.19 per cent in September quarter. Interest grew by 185.27 per cent y-o-y to Rs 1,965.59 crore, while Taxation decreased by 99.51 per cent at Rs -2.61 crore (Sep'16 Rs -530.21 crore).