JINDAL VIJAYANAGAR STEEL LTD
Article Abstract:
Jindal Vijayanagar Steel Ltd (JVSL) has failed to meet the projections made for 1997-98. Against a projected sales of Rs154,800 lakh, JVSL has reported a sales of Rs18,093 lakh during 1997-98. During this period, it posted a net loss of Rs3,477 lakh as compared to a projected net profit of Rs53,000 lakh. (ag) ------------------------------------------------------------ Audited Financial Performance of Jindal Vijayanagar Steel Ltd (Rs in lakh) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Net Sales/ Income from operations 18092.79 7.68 ------------------------------------------------------------ Total expenditure 14672.96 37.85 ------------------------------------------------------------ Interest & financial charges 4767.55 36.75 ------------------------------------------------------------ Gross profit/(loss) after interest, before depreciation & taxation (1347.72) (66.92) ------------------------------------------------------------ Depreciation 2129.56 17.50 ------------------------------------------------------------ Provision for tax 0.00 0.00 ------------------------------------------------------------ Net profit/Loss (3477.28) (84.42) ------------------------------------------------------------ Equity capital 101176.94 68897.81 ------------------------------------------------------------
Comment:
Posts a net loss of Rs3,477 lakh as compared to a projected net profit of Rs53,000 lakh in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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JINDAL VIJAYNAGAR STEEL LTD
Article Abstract:
Jindal Vijaynagar Steel Ltd has declared its unaudited financial results for the quarter ended June 30, 1998. (khr) --------------------------------------------------------- Unaudited Financial Results of Jindal Vijaynagar Steel --------------------------------------------------------- Particulars Quarter ended Year ended (Rs in lakh) 30.6.1998 31.3.1998 * --------------------------------------------------------- Net sales 11545.96 18092.79 --------------------------------------------------------- Total expenditure 10245.02 14672.96 --------------------------------------------------------- Interest 1296.02 4767.55 --------------------------------------------------------- Gross profit after interest 4.92 -1347.72 --------------------------------------------------------- Depreciation 532.39 2129.56 --------------------------------------------------------- Net profit -527.47 -3477.28 --------------------------------------------------------- Equity share capital 101194.44 101176.94 --------------------------------------------------------- * Audited ---------------------------------------------------------
Comment:
Posts net sales of Rs18092.79 lakh for FY97-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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OP JINDAL GROUP IN REVAMP MODE
Article Abstract:
In a major restructuring programme, OP Jindal of the OP Jindal group has given all his four sons independent control of group companies. Jindal Strips Ltd (JSL) is under the control of Ratan Jindal, Jindal Iron and Steel Company under Sajjan Jindal and Saw Pipes Ltd under PR Jindal. A new company called Jindal Steel and Power Ltd (JSPL) has been formed by hiving off the Raigarh division of Jindal Strips. This will come under the control of Naveen Jindal. The Vasind steel plant of Jindal Strips is also proposed to be transferred to the new company. JSL will now concentrate on the production of stainless steel at its Hissar unit in Harayana. Sources say that this restructuring is not a family split or a division of assets but only to bring more focus to the business. (khr)
Comment:
New company formed by hiving off Raigarh division of Jindal Strips
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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