Financial Daily from THE HINDU group of publications
Sunday, May 29, 2005
Financial Daily from THE HINDU group of publications Sunday, May 29, 2005 |
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Corporate Results
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Petrochemicals Haldia Petrochemials net at Rs 520 cr Our Bureau
Kolkata , May 28 HALDIA Petrochemicals Ltd (HPL) on Saturday announced a net profit of Rs 520 crore. Mr Swapan Bhowmik, Managing Director of HPL, said that the company ended March 31, 2005 with annual gross sales of Rs 6,075 crore and an EBITA (earning before interest and tax) of Rs 1,565 crore. The CDR has helped HPL to reduce its average interest burden to 8.75 per cent from 10.5 per cent. The equity base of the HPL would also increase by another Rs 100-135 crore from Rs 1,410 crore as some of the lenders' loan would be changed over to equity. At present, TCG and its associates holds 59.9 per cent, followed by West Bengal Government with 36.87 per cent. The Tatas are holding only 3.23 per cent approximately.
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