Kesoram Industries Q3 net loss narrows at Rs 88cr

However, total income fell to Rs 1,245 cr from Rs 1,302 cr a year ago

B K Birla Group company Kesoram Industries today reported a Rs 88.28 crore net loss during the October-December quarter of current fiscal on lower income.

The Kolkata-based firm company, which has interests in tyres, cement and others, had clocked Rs 117.21 crore net loss in the same quarter last fiscal, it said in a statement.

Total income fell to Rs 1,244.87 crore from Rs 1,302.35 crore a year ago mainly due to lower revenue from its tyre business.

Revenue from the tyre business fell to Rs 735.13 crore from Rs 825.10 crore. Kesoram Industries sells tyres under the brand name 'Birla Tyres'.

However, revenue went up from the cement business to Rs 431.31 crore from Rs 400.18 crore a year ago.

Total expenses also fell to Rs 1,214.34 crore against Rs 1346.26 crore. Finance costs remained almost static at Rs 139.81 crore compared to Rs 137.35 crore a year ago.