Alok Industries plunges 9% as co reports loss of over Rs 84 cr in Q2
In July-September, Alok Industries reported a growth of 134.24 per cent on-year in total consolidated revenues to Rs 1,904.57 crore. On a sequential basis, revenues rose by 50.63 per cent from Rs 1,264.44 crore.
By Bhaskar Dutta, ETMarkets.com |
BCCL - Non Copyright
NEW DELHI: Shares of Alok Industries plummeted 9 per cent today as the integrated textile company reported a consolidated on-year net loss of Rs 84.11 crore for the July-September quarter.
At 10:20 hours (IST), the company’s scrip was at Rs 24.20 on the National Stock Exchange, down 9.36 per cent from its previous close.
Over the same period in the previous financial year, the Mumbai-based company had posted a net profit of Rs 4,798.64 crore.
In July-September, Alok Industries reported a growth of 134.24 per cent on-year in total consolidated revenues to Rs 1,904.57 crore. On a sequential basis, revenues rose by 50.63 per cent from Rs 1,264.44 crore.
The COVID-19 crisis has struck a massive blow to the company’s capacity utilization.
At 10:20 hours (IST), the company’s scrip was at Rs 24.20 on the National Stock Exchange, down 9.36 per cent from its previous close.
Over the same period in the previous financial year, the Mumbai-based company had posted a net profit of Rs 4,798.64 crore.
In July-September, Alok Industries reported a growth of 134.24 per cent on-year in total consolidated revenues to Rs 1,904.57 crore. On a sequential basis, revenues rose by 50.63 per cent from Rs 1,264.44 crore.
The COVID-19 crisis has struck a massive blow to the company’s capacity utilization.
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