SRF's FINANCIAL REVAMP TO CUT INTEREST COSTS BY 20%
Article Abstract:
As part of its financial revamping programme, SRF Ltd (SRF) has cut down its annual interest cost by over 20 percent. SRF's interest cost increased from Rs83 crore in 1995-96 to Rs130 crore in 1997-98. SRF is projecting an interest cost of Rs102 crore for 1998-99. It has posted a decrease in net profit to Rs3.3 crore during 1997-98 due to high interest cost. Its financial revamping exercise includes sale of its stake in SRF Finance for Rs53 crore, divestment in its vision care business, raising Rs42 crore through rights issue and mobilising Rs108 crore through foreign currency loans and relaxation of payment schedule of outstanding loans with ICICI, IFCI and IDBI. (gs)
Comment:
Cuts down its annual interest cost by over 20% from Rs83 crore in 1995-96 to Rs130 crore in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INDUS SOFT SIGNS GLOBAL PACT WITH GE CAPITAL
Article Abstract:
Indus Software Ltd (ISL), Pune, has signed a memorandum of understanding (MoU) with GE Capital (GEC) for implementation of its Lending Solutions from Indus LSI/NT software. The global software licence agreement will enable all divisions of GEC to use LSI/NT software globally. With the agreement, ISL is able to support global implementation of LSI/NT from its Pune offshore desk. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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