Alok Industries Limited has announced its financial results for the second quarter of FY24, ending September 30, 2024. The company reported a net loss of ₹262 crore, widening from the ₹175 crore net loss recorded in the same period last year (YoY).
Revenue drops significantly
The company’s revenue saw a sharp decline of 35.5%, falling to ₹885.6 crore from ₹1,372.3 crore in Q2 FY23. This substantial drop highlights the ongoing operational challenges Alok Industries is facing in the current market environment.
EBITDA turns negative
Alok Industries reported an EBITDA loss of ₹45 crore for Q2 FY24, compared to an EBITDA gain of ₹36.6 crore in the corresponding quarter of the previous year. This shift from positive to negative EBITDA reflects increasing pressures on the company’s operational profitability.
With its net loss widening and revenue continuing to decline, Alok Industries is facing significant financial headwinds. The transition to an EBITDA loss further underscores the challenging market conditions and the company’s struggles to sustain profitability.
