The results for the quarter ended June 30, 2008 are not comparable with the corresponding quarter of the previous year as these accounts include an interest of Rs 25.32 lakh on the ECB (external commercial borrowing) of $475 million to part finance the acquisition of General Chemicals Industrial Products Inc and the notional exchange loss of Rs 123 crore on the ECB loan, restated at the exchange rate prevailing as on June 30, 2008 in accordance with accounting standard.

It may be note that the repayment of the aforesaid loan commences only in June 2012, the company said in a press release

On consolidated basis, the Group’s net profit was down 22 per cent at Rs 107 crore against Rs 137 crore last year, while total income was at Rs 2,222 crore (Rs 1,141 crore) in the quarter under review.