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Business News/ Companies / Company Results/  Q3 results: Alok Industries posts 215.50-crore loss
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Q3 results: Alok Industries posts ₹215.50-crore loss

Alok Industries’ revenue from operations in the third quarter of FY24 stood at ₹1,217.20 crore, as compared to ₹1,664.99 crore in Q3 of FY23

Shares of Alok Industries Ltd closed at ₹32.80, up 0.92% on the NSE on Wednesday.Premium
Shares of Alok Industries Ltd closed at 32.80, up 0.92% on the NSE on Wednesday.

Alok Industries Ltd on Wednesday announced the financial results for the third quarter (Q3) ended December 31, 2023 of the current fiscal year (FY2024)

On a standalone basis, the company reported a loss for the October-December period of FY24 at 215.50 crore. It had posted a loss of 241.43 crore in the same period last fiscal year (FY2023).

Its revenue from operations in the third quarter of FY24 stood at 1,217.20 crore, as compared to 1,664.99 crore in Q3 of FY23.

Total income of Alok Industries Ltd for the December quarter of FY24 was reported at 1,217.54 crore, as compared to 1,667.83 crore a year ago, said the company.

Its total expenses stood at 1,433.04 crore in Q3 of the current fiscal year, as compared to 1,909.26 crore last fiscal year.

For the nine months ended December 31, 2023, the textile company reported revenue from operations at 3,920.92 crore and a loss of 606.83 crore.

Shares of Alok Industries closed at 32.80, up 0.92% on the NSE on Wednesday.

Earlier this month, Alok Industries informed the stock exchanges that Reliance Industries Ltd (RIL) had invested 3,300 crore in the company through non-convertible redeemable preference shares.

“Further to our disclosure dated November 07, 2023, we wish to inform you that upon receipt of subscription money of Rs. 3,300,00,00,000/- (Rupees Three Thousand Three Hundred Crore Only) from Reliance Industries Limited, the Company has today, at around 2.00 p.m., allotted to Reliance Industries Limited 3,300,00,00,000 (9%) Non-Convertible Redeemable Preference Shares of Re.1/- each for cash at par aggregating Rs. 3,300,00,00,000/- (Rupees Three Thousand Three Hundred Crore Only), on the terms and conditions as approved by the shareholders of the Company vide special resolution passed on December 23, 2023," Alok Industries had said in an exchange filing.

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Published: 17 Jan 2024, 08:33 PM IST
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