Financial Daily from THE HINDU group of publications
Monday, Jan 30, 2006
Financial Daily from THE HINDU group of publications Monday, Jan 30, 2006 |
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Corporate Results
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HCV/LCV/Tractors Escorts cuts net losses Our Bureau
NEW DELHI: Escorts Ltd has cut its net loss by 49 per cent to Rs 2.9 crore in the quarter ended December 31, 2005 as compared to Rs 5.72 crore in the corresponding period in the previous year. The total income has decreased to Rs 329.29 crore in Q1 2005-06, from Rs 356.96 crore in the quarter ended December 31, 2004. The company has been able to cut its net losses as it had retired term debt of around Rs 300 crore earlier last year. Going forward the retiring of debt is likely to result in substantial interest cost savings for the company.
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