Financial Daily from THE HINDU group of publications
Friday, Jan 28, 2005
Financial Daily from THE HINDU group of publications Friday, Jan 28, 2005 |
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Corporate Results
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Glass Asahi India Q3 sales up 13pc Our Bureau
New Delhi , Jan. 27 GLASS company, Asahi India Glass (AIS), has announced a sales growth of 13 per cent to Rs 176.06 crore in the third quarter, 2004-2005 from Rs 156.12 crore in the same period in the previous year. The net profit increased to Rs 24.44 crore in Oct-Dec 2004, up 39 per cent from Rs 17.54 crore in the third quarter, 2003-2004, mainly on account of low incidence of depreciation and foreign exchange gain recorded during the period. Commenting on the results, Mr Sanjay Labroo, Managing Director and CEO, Asahi India Glass, said, "The performance was impacted during the period and operating margins came under pressure due to certain higher input costs and overheads, mainly in the Auto Glass Unit, which we believe are one time. The counter-measures taken by AIS have started yielding the desired results. The underlying performance, however, continues to be strong and robust, on the expected lines".
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