Alok Industries Q1 loss widens to Rs 1,212 cr

14/09/2016 10:49

Textile manufacturer Alok Industries said that its net loss for the first quarter ended June 30, has widened to Rs 1,212.04 crore.

The company had reported a net loss of Rs 349.68 crore in the corresponding period a year ago, it said in a filing to the Bombay Stock Exchange.

Its income from operations dipped 47.22 per cent for the quarter under review at Rs 1,810.75 crore, compared with Rs 3,431.14 crore in the year-ago period.

Alok Industries owes over Rs 18,000 crore to a consortium of 32 lenders, led by the State Bank of India.

In January, the company had informed the stock exchanges that the lenders had invoked SDR in the company, with the reference date being November 27, 2015.

Meanwhile, shares of the company were trading at Rs 3.34 apiece, down 4.84 per cent from the previous close at 10:53 hours on BSE.

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