ITC BHADRA POSTS Rs48-CR LOSS
Article Abstract:
ITC Bhadrachalam Paperboards Ltd (IBPL) has reported a net loss of Rs48.96 crore during 1997-98 (a net profit of Rs16.71 crore in 1996-97). ------------------------------------------------------------ Financial Performance of ITC Bhadrachalam Paperboards Ltd (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Net Sales 213.68 210.24 ------------------------------------------------------------ Total Expenses 187.31 201.21 ------------------------------------------------------------ Interest 21.72 7.50 ------------------------------------------------------------ Depreciation 12.94 11.69 ------------------------------------------------------------ Gross profit/(loss) (8.29) 18.37 ------------------------------------------------------------ Provision for extraordinary item 40.00 NA ------------------------------------------------------------ Tax provision 0.67 NA ------------------------------------------------------------ IBPL has started a 120,000 tonnes per annum paper machine to produce coated boards. (ag)
Comment:
Reports net loss of Rs48.96 crore during 1997-98, as against net profit of Rs16.71 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CENTURY TEXTILES IN THE RED WITH Rs85 CRORE LOSS
Article Abstract:
Century Textiles and Industries Ltd (CTIL), the flagship company of BK Birla group, has incurred a huge loss of Rs85 crore in 1997-98 compared to Rs2.67 crore net profit posted in 1996- 97. The poor performance of the company has been attributed to recession in cement and paper industry. It has decided to drop its rayon grade pulp and paper board projects due to financial crisis. (gs) -------------------------------------------------------- Century Textiles and Industries Ltd: Financial Results (Rs in crore) -------------------------------------------------------- Particulars 1997-98 1996-97 -------------------------------------------------------- Net Sales 1,941.62 1,805.21 -------------------------------------------------------- Gross Profit 58.26 126.56 -------------------------------------------------------- Depreciation 145.57 123.74 -------------------------------------------------------- Net Profit (Loss) (85.18) 2.67 --------------------------------------------------------
Comment:
Incurs a huge loss of Rs85 crore in 1997-98 compared to Rs2.67 crore net profit posted in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ITC BHADRA TO OFFER SHARES TO PARENT
Article Abstract:
ITC Bhadrachalam Paperboards Ltd plans to offer equity shares and 11 percent redeemable cumulative preference shares to ITC Ltd and its subsidiaries on a preferential basis. The company showed losses of Rs48.96 crore in 1997-98. It has decided to offer 191.20 lakh equity shares of Rs10 each for an issue price of Rs65 per share and the RCP shares of Rs100 each for cash at par with an aggregate value not exceeding Rs50 crore. ITC and its subsidiaries will invest Rs174.28 crore and raise their holding in the company to 51 percent from 37 percent at present. (khr)
Comment:
Plans to offer equity shares & 11% redeemable cumulative preference shares to ITC & its subsidiaries on a preferential basis
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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