Alok Industries Q1 loss widens to Rs 1,212 crore

The company owes over Rs 18,000 crore to a consortium of 32 lenders, led by the State Bank of India

Textile manufacturer Alok Industries' net loss for the first quarter ended June 30, widened to Rs 1,212.04 crore.

The company had reported a net loss of Rs 349.68 crore in the corresponding period a year ago.

Its income from operations dipped 47.22 per cent for the quarter under review at Rs 1,810.75 crore, compared with Rs 3,431.14 crore in the year-ago period.

Alok Industries owes over Rs 18,000 crore to a consortium of 32 lenders, led by the State Bank of India.

In January, the company had informed the stock exchanges that the lenders had invoked SDR in the company, with the reference date being November 27, 2015.