On July 20, Alok Industries shares declined by over 3% to Rs 15.45 at 9:36 am after the business announced its financial and operational results for the first fiscal quarter ending June 30, 2023.

The textile manufacturer conveyed a 28.93% YoY decline in total income at Rs 1,415.66 crore for the June ending quarter FY24, as against Rs 1992.02 crore in the same quarter last year.

Its overall net loss for the quarter expanded by 59.73% to Rs 226.14 crore in Q1FY24, versus Rs 141.58 crore in the equivalent quarter of the last fiscal year.

The company has described earnings per share (EPS) of Rs -0.46 for the period ending June 30, 2023, compared to Rs -0.29 for the period ending June 30, 2022.

Alok Industries Limited is a textile manufacturing corporation based in Mumbai. The company has twisted global-sized capacities and expanded its markets across worldwide territories.