Kesoram slumps 3% after reporting loss for the ninth consecutive quarter
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In its results for the July-September quarter announced on October 12, Kesoram Industries reported a 12.8 percent YoY (year-on-year) increase in revenue from operations at Rs 953.8 crore.
Kesoram Industries operates in various sectors including cement, tires, rayon, and transparent paper.
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Kesoram Industries shares tumbled 3 percent on October 13 morning trade after the BK Birla-Group company reported a net loss of Rs 58.4 crore against a net loss of Rs 59.05 crore for the quarter ended September FY24. This was the ninth loss-making quarter for the cement-maker.
At 9.45 am on the NSE, the Kesoram Industries stock was quoting at Rs 86.95 apiece, down Rs 1.45, or 1.64 percent.
In year-to-date terms, the stock is up nearly 44 percent.
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In its results for the July-September quarter announced on October 12, Kesoram Industries reported a 12.8 percent YoY (year-on-year) increase in revenue from operations at Rs 953.8 crore. The operating profit margins for the quarter expanded by 100 basis points on a yearly basis to 7 percent.
The company reported a 17 percent YoY increase in sales volume at 3.73 million tonne for the first half of FY24 against 3.19 million tonne reported in H1FY23.
Kesoram Industries operates in various sectors including cement, tires, rayon, and transparent paper. The company manufactures cement under the brand name ‘Birla Shakti’ while its cellulose transparent paper products are marketed under brand name ‘Kesophane.’
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