Kesoram Industries Q3 net loss narrows at Rs 88 cr

Kolkata-based firm, which has interests in tyres & cement, had a Rs 117 cr loss in year-ago quarter

B K Birla Group company Kesoram Industries today reported a Rs 88.28 crore net loss during the October-December quarter of current fiscal on lower income.
     
The Kolkata-based firm, which has interests in tyres, cement and other businesses, had clocked Rs 117.21 crore net loss in the same quarter last fiscal, it said in a statement.
     
Total income fell to Rs 1,244.87 crore from Rs 1,302.35 crore a year ago mainly due to lower revenue from its tyre business.
     

Revenue from the tyre business fell to Rs 735.13 crore from Rs 825.10 crore. Kesoram Industries sells tyres under the brand name 'Birla Tyres'.

     
However, revenue went up from the cement business to Rs 431.31 crore from Rs 400.18 crore a year ago.
     
Total expenses also fell to Rs 1,214.34 crore against Rs 1346.26 crore. Finance costs remained almost static at Rs 139.81 crore compared to Rs 137.35 crore a year ago.