Kesoram Industries slips after company reports net loss of Rs 46 cr

Kesoram Industries declined 1.31% to Rs 60.30 after the company reported a consolidated net loss of 46.67 crore in Q4 FY22 as against a net profit of Rs 112.26 crore in Q4 FY21.

Revenue of operation grew 19.7% to Rs 1,031.78 crore in Q4 FY22 as compared to Rs 861.56 reported in the same period last year. The cement manufacturer reported a pre-tax loss of Rs 66.40 crore in Q4 FY22 versus Rs 168.4 crore in Q4 FY21.

Consolidated operating margin declined to 9.48% in Q4 FY22 as against 13.37% in Q4 FY21. Margin pressure was seen as total expenses surged 31.35% YoY to Rs 1,085.84 crore.

The company reported a consolidated net loss of 75.04 crore in FY22 as against a net profit of Rs 150.29 crore in FY21.

Furthermore, the company has announced that Suresh Kumar Sharma has resigned from the post of Chief Financial Officer. Rohit Shah has been elected as chief financial officer of the company with effect from 11 April 2022.

Kesoram Industries is engaged in the manufacture of cement, tyres, tubes, rayon, paper, heavy chemicals and spun pipes.

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