Kesoram returns to profit in Q2

B K Birla Group company Kesoram Industries Limited registered a net profit of Rs 10 crore in the second quarter of 2016-17 as against a loss of Rs 144 crore in the year-ago period.

Total income declined to Rs 1,037 crore as compared to Rs 1,156 crore in the same period of the previous fiscal, the company said in a statement today.

Restructuring of Kesoram's businesses led to reduction in finance costs and debt, the statement said, adding that its tyres business is being consolidated to operate in a competitive space.