Alok Industries loss widens to Rs 262 cr; revenue falls 35.5% to Rs 885.6 cr

New Delhi: 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.