RAASI CEMENTS H1 NET DOWN TO Rs12.5 Cr
Article Abstract:
Raasi Cements Ltd (RCL) has posted a fall in its net profit to Rs12.55 crore during the first half of 1998-99 (Rs21.22 crore during the first half of 1997-98). During the period, it also posted a fall in its sales to Rs187.76 crore (Rs216.82 crore) and depreciation to Rs4.03 crore (Rs4.05 crore). RCL also posted a rise in the interest cost to Rs8.22 crore (Rs8.21 crore). It produced 818,000 tonnes of cement and sold 808,000 tonnes of cement and clinker. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICL TO PAY FOR RAASI SHARES AFTER RIGHTS ISSUE
Article Abstract:
India Cements Ltd of Chennai has told financial institutions that it will make the payments for the shares of Raasi Cement Ltd acquired from them only after September 30, 1998. The company is waiting for clearance for its 1:1 rights issue from the Securities and Exchange Board of India. It had acquired 25.67 lakh Raasi Cement shares at a cost of Rs300 crore in June 1998. (khr)
Comment:
India Cements tells financial institutions that payments pay for firm's shares acquired from them will be made after 9/30/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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