HIGHER INTEREST, DEPRECIATION PULL AEC NET DOWN
Article Abstract:
Higher provisions for interest and depreciation have decreased the net profit of Ahmedabad Electricity Company (AEC) to Rs30.38 crore in 1997-98 against Rs39.10 crore in 1996-97. AEC, which is now a part of the Torrent group, reported earnings of Rs829.40 crore in 1997-98 against Rs721.94 crore in 1996-97. Its gross profit increased to Rs141.65 crore from Rs136.24 crore. It has decided to maintain a dividend of 22 percent for 1997-98. AEC generated 3,153 million units of electricity, its highest ever, inspite of one of its power stations of 110 mw being shut down for three and a half months. (khr)
Comment:
Reports net profit of Rs30.38 crore in 1997-98, down from Rs39.10 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NTPC SET TO BREACH SOVEREIGN CEILING
Article Abstract:
The National Thermal Power Corporation is likely to breach the sovereign rated ceiling with a $100 million Euro bond offer. The company is looking at an Euro bond having an 8-year maturity period, credit enhanced and guaranteed with an AA or a higher rated bank. The sovereign rating of India is now BB with a positive outlook and all external debt ratings are restrained by it. It will be difficult to come out with an Euro bond without credit enhancement as India is now in the non-investment grade. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TATA ELECTRIC COMPANIES NET UP 3%
Article Abstract:
The net profit of Tata Electric Companies has increased by 3.29 percent to Rs183.79 crore in the first half of 1998-99. (Rs177.94 crore in the first half of 1997-98). Total sales declined to Rs1,208.38 crore (Rs1,228.22 crore) due to decline in offtake by Bombay Suburban Electricity Supply Ltd. TEC comprises of Tata power, Andhra valley Power Supply and Tata Hydro-Electric Power Supply. (vv)
Comment:
The net profit of Tata Electric Companies has increased by 3.29 percent to Rs183.79 crore in the first half of 1998-99.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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