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INDIA'S SOUTHERN PETROCHEMICALS POSTS US$44.06 MLN FY LOSS.
CHENNAI, July 1 Asia Pulse - India's Southern Petrochemicals Industries Corporation Ltd (BSE:SPIC), currently reeling under a heavy debt burden, has reported a net loss of Rs 2.15 billion (US$44.06 million) for the year ending March 31, compared to a net profit of Rs 1.58 billion in the previous year.
The company also reported a 25 per cent drop in revenues which came to Rs 1.72 billion, compared to Rs 2.29 billion in the 2000-01 financial year, according to the financial results released by the company said.
Commenting on the results, Ashwin C. Muthiah, the company's vice chairman, said the results reflected the continuing downtrend in the fertiliser sector which he said accounted for as much as 91 per cent of SPIC's revenues.
The total debt ...
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...deferred tax liability to the tune of Rs 256.5 million and increased overhead expenditure. INDIA'S SOUTHERN PETROCHEMICALS POSTS US$44.06 MLN FY LOSS CHENNAI...burden, has reported a net loss of Rs 2.15 billion (US$44.06 million...
Source: HighBeam Research, INDIA'S SOUTHERN PETROCHEMICALS POSTS US$44.06 MLN FY LOSS.