Kesoram Industries posts Rs10 crore profit in September quarter
Kolkata: Staging a turnaround, Kesoram Industries Ltd on Wednesday said it had managed to cut finance cost substantially and register a net profit of Rs10 crore in the September quarter as against a loss of Rs144 crore in the corresponding period last year.
For the first six months of 2016-17, the company posted a net profit of Rs19 crore compared with a loss of Rs309 crore last year.
Revenue in the September quarter dipped to Rs1,037 crore from Rs1,156 crore a year ago. However, the company’s finance cost for the first six months of the current year came down to Rs140.7 crore from Rs342.33 crore last year following repayment of debts. Through the past 18 months, Kesoram has been restructuring its operations. The process included the sale of one of its tyre-making units.