FAILING TO ENTHUSE INVESTORS: ESSAR STEEL LTD
Article Abstract:
Essar Steel Ltd (ESL) recorded a 37 percent growth in sales and 157 percent growth in net profit in 1997-98. It achieved higher capacity utilisation and 25 percent of its 15 lakh tonnes of hot- rolled (HR) coils were exported. It produced 15.5 lakh tonnes of liquid steel and 17 lakh tonnes of hot briquetted iron. It exported 2 lakh tonnes of pellets. Its revenue from exports increased by 42 percent to Rs433 crore. Its scrip is traded at Rs23 now. (rk) ------------------------------------------------------------ Financial performance of Essar Steel Ltd ------------------------------------------------------------ Particulars 1997-98 1996-97 (Rs in crore) ------------------------------------------------------------ Sales 2,528.00 1,845.00 ------------------------------------------------------------ Operating expenses 1,769.34 1,279.52 ------------------------------------------------------------ Operating profit 759.00 565.00 ------------------------------------------------------------ Interest 407.00 286.00 ------------------------------------------------------------ Gross profit 352.12 279.00 ------------------------------------------------------------ Depreciation 292.32 268.00 ------------------------------------------------------------ Tax 2.31 1.31 ------------------------------------------------------------ Net profit 24.7 9.62 ------------------------------------------------------------
Comment:
Records 37% increase in sales & 157% increase in net profit in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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FAILING TO ENTHUSE INVESTORS: CMC Ltd
Article Abstract:
CMC Ltd posted a growth of 29 percent in its sales, 142 percent in its net profit and 60 percent in its other income in 1997-98. It increased its profits by bidding for high- value global tenders in infotech. It computerised Chittagong Stock Exchange. It got an order to set up freight operations information systems for the Indian Railways. (rk) ------------------------------------------------------------ Financial performance of CMC Ltd ------------------------------------------------------------ Particulars 1997-98 1996-97 (Rs in crore) ------------------------------------------------------------ Net sales 287.25 224.08 ------------------------------------------------------------ Other income 7.30 4.57 ------------------------------------------------------------ Expenditure 272.55 210.08 ------------------------------------------------------------ Interest 4.12 5.29 ------------------------------------------------------------ Gross profit 17.86 13.27 ------------------------------------------------------------ Depreciation 7.05 6.70 ------------------------------------------------------------ Tax 4.45 4.00 ------------------------------------------------------------ Net profit 6.36 2.56 ------------------------------------------------------------ Equity 15.15 15.15 ------------------------------------------------------------
Comment:
Posts growth of 29% in sales, 142% in net profit & 60% in other income in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ESSAR STEEL NOT TO PAY DIVIDEND
Article Abstract:
In 1997-98, Essar Steel Ltd recorded a 37 percent rise in turnover. It has decided not to declare any dividend due to inadequacy of profits. The scrip of the company closed at Rs22.40 on May 21, 1998, compared to the previous day's closing of Rs24.10. (gsh) ------------------------------------------------------------ Financial Results: Essar Steel Ltd (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Sales 2,519.00 1,837.00 ------------------------------------------------------------ Operating Profit 759.00 565.00 ------------------------------------------------------------ Interest 407.00 286.00 ------------------------------------------------------------ Depreciation 292.00 248.00 ------------------------------------------------------------ Tax 2.31 1.43 ------------------------------------------------------------ Net Profit 24.70 9.62 ------------------------------------------------------------>TE
Comment:
Records 37% increase in turnover for 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
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