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Rossell India Ltd has sold its Hyderabad-based avionics subsidiary Sigma Microsystems Pvt Ltd (Sigma). The aviation segment is now spearheaded by a company division in Bangalore. According to the Company Secretary, Mr N.K. Khurana, Sigma has wiped out its networth and was sold at the best possible price with a net loss of Rs 72 lakh. The Kolkata-based company declared a dividend of 40 paise (or 20 per cent) on every equity share of Rs 2 face value each. It reported a near 100 per cent increase in losses to nearly Rs 6 crore during the fourth quarter compared with the Rs 3-crore in the corresponding quarter last fiscal. On an annual basis, Rossell India reported a near three per cent dip in net profit to Rs 18 crore. The company's net income stood at Rs 83 crore.
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