Arvind Mills Q3 losses touch Rs 86 cr

FEB 6: Beleagurged firm Arvind Mills have posted a loss of Rs 86.2 crore in the third quarter of current fiscal as against to Rs 6.6 crore...

FEB 6: Beleagurged firm Arvind Mills have posted a loss of Rs 86.2 crore in the third quarter of current fiscal as against to Rs 6.6 crore recorded in the same period of last year. Net sales from operations were also down by 8.81 per cent from Rs 335 crore in Q3 last year to Rs 306 crore recorded in the third quarter of current fiscal.

Other income for the quarter ended December 31, 2000 was Rs 9.8 million compared to Rs 72.9 million in the quarter ended December 1999.

In a notice to the Bombay Stock Exchange (BSE), the company said that the previous year’s figures included sales from garment business up to December 1999 and hence the current quarter figures are not comparable with that of previous period.

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Castrol profit down:Castrol India Ltd has reported a dip of 34.2 per cent in net profit at Rs 134.4 crore for the year 2000, compared to Rs 204.38 crore posted last year. The board of directors also recommended a final dividend of Rs five per share, in addition to an interim dividend Rs 2.50 per share paid in September 2000, the company said in a release here today.

Net sales in the reporting year were marginally up at Rs 1,237.81 crore as against Rs 1,195.55 crore in last year.

The net profit was lower as the substantially higher base oil cost had to be partially absorbed by the company due to increased competition and decline in the markets, it said. Staff cost on account of voluntary retirement scheme in the year 2000 stood at Rs 5.47 crore (nil in last year).