Comments
BK Birla Group outfit Kesoram Industries on Tuesday reported extension of net losses and a dip in operating profit in 2013-14.
The (January-March) fourth quarter saw a jump in net losses from ₹62 crore to ₹199 crore.
The cement, tyre and rayon manufacturing company posted a net loss of ₹480 crore in the year to March 31, 2014, against a net loss of ₹377 crore in the previous fiscal.
The operating profit stood at ₹411 crore (₹443 crore). However, the operating margin improved to 7.9 per cent from 7.6 per cent. This happened because the annual revenue (including non-operating income) dropped from ₹5,842 crore to ₹5,206 crore.
The company in a release said the tyre business saw growth in its operating profitability last year with EBIDTA at ₹212 crore (₹73 crore) and operating margin at 7 per cent (2 per cent).
Cement’s business’ EBIDTA declined to ₹278 crore from ₹434 crore in the previous year.
During the current year, the tyre business is focussing on increasing capacity utilisation.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.