Revenue from operations dropped 28.47% year on year to Rs 1,410.25 crore in the quarter ended 30 June 2023.

The company reported a pre-tax loss of Rs 226.14 crore in Q1 FY24 from a pre-tax loss of Rs141.58 crore posted in the same period a year ago.

Total expenses reduced by 23.05% YoY to Rs 1641.54 crore in Q1 FY24. Cost of materials consumed was at Rs 1,005.99 crore (down 26.67% YoY) while employee benefit expense stood at Rs 122.17 crore (down 2.61% YoY) during the quarter.

Meanwhile, the firm's board has approved the appointment of Ram Rakesh Gaur and Vinod Sureka as the chief executive officer and joint chief financial officer, respectively, with effect from 20 July 2023.

Mumbai-based Alok Industries is a textile manufacturing company.