Alok Textiles Q4 revenues increase by 97%

Alok Textiles’ Q4 revenues increased by 97.86 per cent Y-o-Y to Rs 1,466.82 crore. Even for the full year FY21, the company reported 16.7 per cent growth in net sales at Rs3,847.59 crore. The sales picked up after a relatively lull period during the pandemic. In fact, the top line was also up 22.05 per cent on a sequential basis compared to Dec-20 quarter.

For the March-21 quarter, Alok reported a consolidated net loss of Rs-500.11cr as against a net profit of Rs1,790.87 crore in the March’20 quarter. However, both these numbers were predominantly influenced by exceptional items.

The company had booked an exceptional loss of Rs650.95 crore in the March’21 quarter, while it had booked an exceptional gain of Rs2,052.55 crore in the March’20 quarter. In the March’20 quarter, the exceptional gain came from the extinguishment of assigned debt as per the resolution plan.

In the March’21 quarter, the exceptional loss was on account of impairment of assets provided for. Due to these exceptional items, the margins were neither relevant, nor comparable.