Financial Daily from THE HINDU group of publications
Tuesday, Jan 28, 2003
Financial Daily from THE HINDU group of publications Tuesday, Jan 28, 2003 |
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Corporate Results
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Electronics Corporate - Financial Performance Samtel Color net dips Our Bureau
NEW DELHI: Samtel Color Ltd, part of the Rs 1,200-crore Samtel group and manufacturers of colour picture tubes (CPT) in India, has posted a 29 per cent rise in its gross turnover to Rs 254.07 crore for the quarter ended December 31, 2002, from Rs 196.74 crore reported in the corresponding quarter last year. The net profit of the company has been reported at Rs 8.56 crore for the quarter under review in comparison to Rs 13.48 crore reported in the corresponding period last year. The net profit is lower on account of impact of interest, depreciation and other costs of the new production line commissioned in March 2002, according to the company. Further, the production on this line has been under ramp up, with capacity utilisation of 50 per cent during the quarter-ended December 31, 2002. The company was also faced with a substantial increase in energy cost in this financial year on account of suspension of natural gas supply from GAIL. It has since been making efforts to reduce energy costs. The gross turnover of the company for the nine-month period ended December 31, 2002, showed an increase of 24 per cent to Rs 658.12 crore from Rs 530.84 crore reported in the corresponding period. The company's net profit is reported at Rs 14.77crore. The basic earning per share of the company stood at Rs 3.84. — Our Bureaus
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