FOLLOW UP PROMPTLY
Article Abstract:
The manufacturers of phosphatic and complex fertilisers had operated at lower capacities due to controversy over subsidy reduction by the Government of India. The Government raised the subsidy ranging between 24-70 percent with retrospective effect from the last kharif season. The subsidy was increased on imported di-ammonium phosphate (DAP) and complex fertilisers also. The subsidy on DAP was increased by 25.7 percent to Rs4,400 a tonne from last kharif season. SPIC, Zuari Agro, Godavari and Gujarat Narmada Fetilisers Corporation had reduced their production for three-four months in early 1998 due to losses incurred. The cash flow for these companies will increase when the Government pays them the subsidy, though it may not increase their profits. The Government of India plans to review fertiliser policy on quarterly basis. (rk)
Comment:
The manufacturers of phosphatic and complex fertilisers had operated at lower capacities due to controversy over subsidy reduction by the Government of India.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
PPL REPORTS Rs110-CRORE LOSS, SETBACK TO REVIVAL PLAN
Article Abstract:
Paradeep Phosphate Limited, a government-owned producer of di- ammonium phosphate, has declared a loss of Rs110 crore on a turnover of Rs1,137 crore for 1997-98 compared to a loss of Rs35 crore on a turnover of Rs966 crore in 1996-97. This has affected the revival plans of the company. The fluctuation in foreign exchange rates in the last quarter of 1997-98 contributed about Rs56 crore to the losses. The company's failure to get interest holiday extended contributed Rs33 crore to the losses while the reduction in subsidy accounted for Rs17 crore. The company uses phosphoric acid as feedstock which has to be sourced from abroad. (khr)
Comment:
Posts loss of Rs110 crore on turnover of Rs1,137 crore for 1997-98 vs loss of Rs35 crore on turnover of Rs966 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
COLGATE'S BOTTOMLINE MAY TAKE A HIT
Article Abstract:
Colgate Palmolive (India) may show a reduced net profit in 1998- 99 as it has increased its expenditure for marketing, advertising and promotion along with fresh investments in business building, infrastructure and supply-chain projects. The company invested Rs140 crore in 1997-98 to set up a di-calcium phosphate project, a research and development centre, installing SAP software and setting up a subsidiary in Nepal. It plans to consolidate its marketshare through volume growth. (khr)
Comment:
May show a reduced net profit in 1998-99 as it has increased its expenditure for marketing, advertising and promotion
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: LLOYDS STEEL DEAL WITH WESTERN COALFIELDS CIL MAY BE HIT BY 5% IMPORT DUTY CUT. PIG IRON MAKERS MOVE SC AGAINST DUMPING DUTY
- Abstracts: SMALL CARS DRIVE INTO NON-METROS IN TOP GEAR. HUTCHISON MAX MERGES CELL, PAGING OPERATIONS
- Abstracts: SAIL JOINS ULSAB-AVC CONSORTIUM OF 28 Cos. TISCO WILLING TO SELL CEMENT PLANTS FOR Rs600 CRORE TISCO TEAMING UP WITH BROKEN HILL, KRAKATAU FOR ULSAB