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Agro Tech Foods incurs Rs 30 lakh loss

Our Bureau

Hyderabad , Aug. 1

AGRO Tech Foods Ltd (AFTL) has posted a sales turnover of Rs 290.9 crore, other income of Rs 1.5 crore and a net loss of Rs 30 lakh during the quarter ended June 30, 2003.

This was against a turnover of Rs 240.9 crore and a net loss Rs 2.6 crore registered during the corresponding period in the previous year.

During the quarter, the gross profit stood at Rs 1.7 crore.

However, the company had to provide Rs 1.6 crore for the settlement of licensing arrangement of Mantralayam undertaking and Rs 70 lakh towards depreciation and amortisation. After availing the benefit of deferred taxation to the tune of Rs 30 lakh, the company incurred a net loss of Rs 30 lakh.

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