FLUID AIR (INDIA) - CASTLES IN THE AIR
Article Abstract:
The pollution control equipment major, Fluid Air (India), raised around Rs2.69 crore through a public issue in February 1996 to part-finance its expansion-cum- modernisation programme of its manufacturing facilities. Of the total project cost of Rs3.29 crore, the promoters brought in Rs0.60 crore. The company specialises in removal of particulate matter from air/gas streams and is useful in covering 28 diverse items in areas of steel, power, mineral processing, chemicals, plastics, fats and oils and manmade fibres. It failed to meet the projections made at the time of the issue. Its income in 1996-97 was Rs13.07 crore, against the projected Rs18 crore, due to the economic recession. Its interest burden also doubled at Rs1.04 crore, against the projected Rs0.72 crore, resulting in lower net profit of Rs0.56 crore. With poor performance in 1997-98 also, its total income in the 6 months ended September 30, 1998, is expected to be Rs4.50 crore and the net profit Rs0.07 crore. The company will not be able to make its projected turnover of Rs25 crore and the net profit of Rs3.03 crore in 1998-99. (gsh) ------------------------------------------------------------ Financial results of Fluid Air (India) (Rs in crore) ------------------------------------------------------------ Particulars 12 months ended 6 months ended March 1998 September 1997 ------------------------------------------------------------ Sales 13.07 4.50 ------------------------------------------------------------ Gross profit 2.07 0.65 ------------------------------------------------------------ Interest 1.04 0.46 ------------------------------------------------------------ Depreciation 0.18 0.10 ------------------------------------------------------------ Tax 0.23 0.02 ------------------------------------------------------------ Net profit 0.56 0.07 ------------------------------------------------------------
Comment:
Posts sales of Rs13.07 crore for 12 months ended 3/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GAS AUTHORITY OF INDIA LTD
Article Abstract:
Gas Authority of India Ltd has declared its unaudited financial results for the quarter ended June 30, 1998. (khr) --------------------------------------------------------- Unaudited Financial Results of Gas Authority of India Ltd --------------------------------------------------------- Particulars Quarter ended Year ended (Rs in lakh) 30.6.1998 31.3.1998 * --------------------------------------------------------- Net sales 162,398 573,613 --------------------------------------------------------- Other income 1,166 66,240 --------------------------------------------------------- Total expenditure 129,896 469,692 --------------------------------------------------------- Interest 2,375 6,457 --------------------------------------------------------- Gross profit after interest 31,293 163,704 --------------------------------------------------------- Depreciation 7,925 24,701 --------------------------------------------------------- Tax 3,400 36,972 --------------------------------------------------------- Net profit 19,968 102,031 --------------------------------------------------------- Equity share capital 84,565 84,565 --------------------------------------------------------- Reserves 276,780 256,812 --------------------------------------------------------- * Audited ---------------------------------------------------------
Comment:
Posts net sales of Rs573,613 lakh for FY 1997-1998
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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OIL INDIA LTD
Article Abstract:
Oil India Ltd (OIL), engaged in onshore crude refining in the Assam and Arunachal Pradesh belt, made a net profit of Rs289 crore in 1997-98 (Rs220 crore in 1996-97). In the last few years, its production has been stagnant at around 3 million tonnes and the profit growth is mainly driven by the changes made in prices payable under the administered pricing mechanism (APM). The Government of India holds 98 percent stake in OIL. (gsh)
Comment:
Makes a net profit of Rs289 crore in 1997-98 vs Rs220 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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