The Hindu : Indian Rayon Q3 net at Rs. 28.5 cr.

Online edition of India's National Newspaper
Tuesday, Jan 20, 2004

Business

Business

Indian Rayon Q3 net at Rs. 28.5 cr.

By Our Staff Correspondent

MUMBAI, JAN. 19. Indian Rayon and Industries has announced a net profit of Rs. 28.56 crores for the third quarter ended December 31, 2003 against Rs. 40.08 crores in the same period of the previous year. (The figures are not strictly comparable because the corresponding quarter had a positive impact of income tax refund of Rs. 11.47 crores and interest thereon of Rs. 8 crores.)

Net sales stood at Rs. 411.23 crores against Rs. 370.45 crores. The profit, before depreciation and taxation, has improved to Rs. 62.65 crores from Rs. 58.30 crores.

Bharat Forge

Bharat Forge has posted a 54.5 per cent rise in its net profit at Rs. 33.01 crores for the third quarter ended December 31, 2003, against Rs. 21.36 crores in the same period in the previous fiscal.

Total income (net of excise) has increased to Rs. 212.27 crores from Rs. 169.19 crores. The board has also approved the issue of equity shares with warrants on a rights basis to the shareholders. The rights issue would comprise issue of equity shares for an amount not exceeding Rs. 150 crores and issue of attached warrants for an amount not exceeding Rs. 150 crores.

Shanthi Gears

Shanthi Gears has reported net sales of Rs. 22.91 crores in the three months ended December 31, 2003 against Rs. 14.74 crores while the profit before tax has more than doubled to Rs. 5.98 crores (Rs. 2.46 crores) in the same period in the previous year. The net profit stood at Rs. 3.93 crores (Rs. 1.57 crores). In the nine months ended December net sales were Rs. 58.04 crores against Rs. 39.53 crores and the net profit Rs. 8.36 crores (Rs. 4.53 crores).

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