Sintex Industries Q2 net loss widens to Rs 278 crore, expenses surge 23%

Textiles maker Sintex Industries on Monday reported widening of consolidated net loss to Rs 277.93 crore for September quarter 2022-23.

The company had incurred a net loss of Rs 181.92 crore during July-September period a year ago, Sintex Industries said in a regulatory filing.

Revenue from operations was up at Rs 692.16 crore from Rs 614.87 crore in the year-ago period.

Total expenses were at Rs 1,003.92 crore, higher by 23.03 per cent from the year-ago quarter.

Sintex Industries is going through an insolvency resolution process. Its lenders have approved the resolution plan (RP) submitted by Reliance Industries jointly with Assets Care & Reconstruction Enterprise on March 19, 2022.

The interim resolution professional (IRP) has submitted the RP before the Ahmedabad bench of the National Company Law Tribunal (NCLT) for its approval.

"As on date, approval of the resolution plan is pending before NCLT Ahmedabad," Sintex Industries said.