Home / Knowledge / News / Textiles / Q1FY16 net at Alok knocked down by higher finance costs
Q1FY16 net at Alok knocked down by higher finance costs
19
Aug '15
Driven by higher finance costs, net profit at vertically integrated textile producer Alok Industries was knocked down 78 per cent year over year for the three months to June 30, 2015.

In a BSE filing, Alok disclosed a 78 per cent net profit drop in its first quarter of fiscal 2016 at Rs 9.72 crore as against Rs 43.48 crore in the same quarter of last fiscal.

Resultantly, earnings per share also were driven down to Rs 0.07 in the quarter under review compared to Rs 0.32 per share in the first quarter of fiscal 2016.

Revenues for the first quarter of the current fiscal too declined 9.82 per cent to Rs 3359.53 crore vis-à-vis Rs 3725.56 crore in the prior fiscal's first quarter.

The BSE-listed company was able to reduce its expenses by 9.55 per cent in the reporting quarter to Rs 2856.52 crore versus Rs 3158.27 crore from a fiscal ago quarter.

Profit from operations before other income and finance costs at the Mumbai headquartered company fell slower at 7.88 per cent year on year to Rs 531.15 crore.

Operating margin for the quarter stood at 15.68 per cent as compared to 15.44 per cent for the previous fiscal's corresponding period.

For the reporting period, other income more than doubled to Rs 58.95 crore versus Rs 25.06 crore in the same quarter of fiscal 2015.

Profit from ordinary activities before finance costs at the yarns, garments and home textiles manufacturer slipped 1.92 per cent from the first quarter of fiscal 2015 to Rs 590.10 crore.

Despite a reduction in both, turnover and expenses, finance costs ballooned 7.51 per cent at Rs 575.24 crore in the first quarter of fiscal 2016 from Rs 535.05 crore in the similar period of earlier fiscal.

Pretax profit also tumbled to Rs 14.86 crore in the first quarter of current fiscal as against Rs 66.64 crore in the prior fiscal first quarter.

Due to the lower pre-tax profit, tax expense at Alok Industries drove down to Rs 5.14 crore compared to Rs 23.16 crore in the first quarter of fiscal 2015. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search