Alok Industries drops after Q2 FY22 net loss stands at Rs 84 cr

Alok Industries tumbled 9.51% to Rs 24.25 after the company's reported net loss of Rs 84.11 crore in Q2 FY22 as compared to a net profit of Rs 4,798.64 crore in Q2 FY21.

Revenue from operations surged 134.24% to Rs 1,904.57 crore in Q2 FY22 over Q2 FY21.

On a standalone basis, the company's reported net loss of Rs 74.52 crore in Q2 FY22 as compared to a net profit of Rs 4,442.94 crore in Q2 FY21. Revenue from operations soared 139.66% to Rs 1,873.45 crore in Q2 FY22 over Q2 FY21.

Alok Industries is a textile company with a presence in the cotton and polyester segments. The company is engaged in manufacturing of textile, including mending and packing activities; leather and other apparel products.

 

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