Business Daily from THE HINDU group of publications
Thursday, Jul 26, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Jul 26, 2007 ePaper |
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Corporate Results
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Glass Asahi India first-quarter net zooms 316%
Our Bureau New Delhi, July 25 Asahi India Glass Ltd has reported a net profit of Rs 20.72 crore for the first quarter of 2007-08, up 316 per cent compared with Rs 4.98 crore posted during the same quarter of the previous year. The profit before tax has gone up by 309 per cent during the quarter to Rs 31.75 crore (Rs 7.76 crore). Gross sales during the quarter increased by 32 per cent to Rs 271.31 crore (Rs 204.95 crore). Positive Effect
The profitability of the company was positively impacted by the effects of changes in foreign exchange rates during the period. The operating profit during the quarter went up by 162 per cent to Rs 73.83 crore (Rs 28.14 crore). Commenting on the performance, the Managing Director and CEO of the company, Mr Sanjay Labroo, said that “the quarterly performance is a mixed one. Sales grew
“While the sales grew in all our business segments as per expectations, rising input costs like fuel had a negative impact. “The dull operating performance primarily due to the float glass segment has been offset by the positive effect of foreign exchange rate changes during the period.” “During the last quarter, the Roorkee plant started commercial production of reflective glass and mirror, as per schedule. “We expect to commission the auto glass and architectural glass processing facilities at Roorkee in the second quarter,” he said.
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