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Asahi India Q1 net up at Rs 9.82 cr

Our Bureau

New Delhi , Aug. 1

ASAHI India Glass Ltd (AIGL) has reported a net profit of Rs 9.82 crore on a total sales of Rs 70.56 crore for the quarter ended June 30, 2003. The company had recorded a net profit of Rs 4.20 crore on total sales of Rs 56.34 crore in the same quarter during the previous year.

AIGL's subsidiary Float Glass India Ltd (FGIL) has reported a net profit of Rs 7.03 crore on a total income of Rs 58.30 crore during the first quarter of the current fiscal. FGIL had reported a net profit of Rs 2.54 crore on total sales of Rs 60.77 crore in the same quarter during the previous year. "The scheme of amalgamation of Float Glass India with Asahi India Glass has been sanctioned with effect from April 1, 2003 by the High Courts of Delhi and Bombay. The first quarter results do not consider the effect of the scheme of amalgamation as the formal court orders are awaited and not been filed with statutory authorities," said Mr Sanjay Labroo, Managing Director, Asahi India Glass.

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