Kesoram Ind net loss widens

Our Bureau Kolkata | Updated on April 29, 2014 Published on April 29, 2014

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.

Published on April 29, 2014
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