Kesoram Industries' net loss widens in January-March

B K Birla Group firm Kesoram Industries' net loss widened to Rs 199 crore during the January-March quarter on higher finance costs and tax outgo.
The company had reported a loss of Rs 62 crore in the year-ago period.
Net sales of the company, which has interests in tyre and cement manufacturing, were down to Rs 1,324 crore in the quarter compared to Rs 1,469 crore a year ago.
Tyres segment contributed Rs 787 crore to the revenue in the period under review, down from 915 crore a year earlier. Revenue from the cement business remained almost static at Rs 477 crore.

Total expenses, however, declined to Rs 1,389 crore from Rs 1,454 crore.
Finance costs were up by Rs 23 crore to Rs 154 crore while current tax charges shoot up to Rs 35.25 crore from Rs 9.25 crore a year earlier.