Alok Industries announces Q2 results

“The previous financial year of the company was for a period of 18 months from October 01, 2013 to March 31, 2015, whereas the current financial year of the company is for a 12 months from April 01, 2015 to March 31, 2016. Accordingly, corresponding figures for 6 months of the previous financial year, from October 01, 2013 to March 31, 2014, have been included in the results, and hence the results of these periods are not comparable,” the company said in a filing to the BSE.

The company posted a net loss of Rs 242.2 crore for the quarter ended September 30, 2015 whereas the net profit was Rs 45.36 crore for the quarter ended September 30, 2014, due to lower revenue.

Total income for the quarter ended September 30, 2015 stood at Rs 3235.53 crore whereas the same was of Rs. 3790.48 crore for the quarter ended September 30, 2014, the statement said.

Short term borrowings were up 12.7 per cent to 6810 crore during the quarter ending September 30, 2015 over borrowings of Rs 6044 crore in the quarter ending March 31, 2015. However, long term borrowings fell 19 per cent to Rs 5832.7 crore from Rs 7223.5 crore during the same period. (RKS)

Fibre2Fashion News Desk – India