BK Birla Group firm Kesoram Industries Ltd reported a net loss of ₹62 crore for the first quarter ending June 30, 2024, on Wednesday, July 10. In the same quarter last year, Kesoram Industries had a net loss of ₹32.4 crore, according to a regulatory filing.
The company’s revenue from operations dropped 12% to ₹879 crore, compared to ₹999 crore in the same period last year. The company’s total consolidated income for Q4 FY24 was Rs 1,093.96 crore, showing a growth of 2.16% from Rs 1,070.82 crore in the same quarter last year.
Operating profit (EBITDA) fell 46.2% to ₹70.9 crore in the first quarter of this fiscal year, down from ₹131.7 crore a year ago. The EBITDA margin was 8% this quarter, compared to 13.2% in the same period last year. EBITDA stands for earnings before interest, tax, depreciation, and amortization.
During this quarter, the company repaid all 16,035 secured listed non-convertible debentures (NCDs), which had a book value of about Rs 1,683.86 crore at the time of redemption. This was done by taking new secured term loans from financial institutions with lower interest rates. For the financial year 2024, the company’s total consolidated income was Rs 4,035.94 crore, and the net loss after tax was Rs 384.09 crore.
