The Hindu Business Line : Bihar Caustic net profit up at Rs 3.84 cr

BIHAR Caustic & Chemicals Ltd, a subsidiary of Hindalco, has ended the third quarter of fiscal 2004 with a 95 per cent increase in net profit at Rs 3.84 crore against Rs 1.97 crore in the year-ago period.

Net sales increased by 5.7 per cent to Rs 23.64 crore as compared to Rs 22.36 crore in the year-ago period.

The company plans to expand its capacity from 54,000 tonnes per annum to 82,000 tonnes per annum at a capex of Rs 110 crore.

Other income during the third quarter was higher at Rs 0.47 crore (Rs 0.16 crore).

For the nine-month period, Bihar Caustic & Chemicals reported a net profit of Rs 9.39 crore as compared to Rs 6.38 crore in the year-ago period. Net sales stood at Rs 70.28 crore (Rs 67.33 crore).

The company said its process of restructuring long-term loans has had an impact on the interest rates. "The impact of reduction in interest rates during the current quarter stands at Rs 55.46 lakh whereas the amortisation charge of premium for the same period comes to Rs 18.87 lakh,'' the company said.