Comments
McNally Bharat recorded a net loss of Rs 23.19 crore in FY13 against a profit of Rs 65.63 crore in FY12.
The B.M. Khaitan Group company said in a note: “The impact of impairment loss of Rs 35 crore, provided on account of diminution in value of investment in MBE Cologne Engineering GmbH, Germany, has resulted in lower profits of the current year.”
The board has recommended a dividend of 10 per cent. The order booking for 2013-14 stands at Rs 277 crore.
According to Prabir Ghosh, Wholetime Director & Group CFO, “borrowing at stand alone level has gone up substantially due to delay in receipt of final retention money payments of Rs 340 crore from four SAIL projects”.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.