Alok Industries Q3 loss widens to ₹273 crore, revenue drops 31%
Textile manufacturer Alok Industries reported a deeper consolidated net loss of ₹273 crore for the quarter ended December 31, 2024, compared to a loss of ₹229.92 crore in the same quarter last year. The company’s consolidated revenue from operations declined 31.06 per cent to ₹863.86 crore from ₹1,253.03 crore in the corresponding quarter.
The pre-tax loss expanded to ₹268.11 crore in Q3 FY25 from ₹228.74 crore in Q3 FY24. For the nine months ended December 31, 2024, the consolidated net loss widened to ₹741.96 crore from ₹630.89 crore, while revenue fell 31.8 per cent to ₹2,755.82 crore from ₹4,040.28 crore year-on-year.
Total expenses decreased by 23.15 per cent to ₹1,138.52 crore in Q3 FY25, with cost of materials consumed dropping significantly by 43.81 per cent to ₹457.77 crore. However, employee benefit expenses rose 28.74 per cent to ₹133.80 crore during the quarter.
A tornado struck the company’s spinning plants in Silvassa in July 2024, causing damage worth ₹61.42 crore to assets and inventory. The company has received ₹55 crore as interim insurance payment.
Despite accumulated losses of ₹22,800.65 crore, the company maintains it is a going concern with current assets exceeding current liabilities by ₹463.41 crore and it has earned EBITDA loss of ₹15.23 crore for the quarter and ₹21.29 crore for the nine months ended December 31, 2024.
The shares of Alok Industries Limited closed at ₹20.40, down by ₹0.48 or 2.30 per cent on the NSE today.
