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Harita Grammer net doubles

Harita Grammer Ltd has reported a turnover of Rs 18.08 crore in the quarter ended September 30, 2000, as against Rs 13.96 crore in the corresponding quarter of last year. Its net profit also increased to Rs 1.06 crore from Rs 52.92 lakh in the same perio d last year.

Total expenditure amounted to Rs 16.02 crore (Rs 12.57 crore). Interest and depreciation amounted to Rs 18.64 lakh (Rs 27.18 lakh) and Rs 33.77 lakh (Rs f34.83 lakh), respectively. Provision for taxation was Rs 62.46 lakh (Rs 31.75 lakh).

In the six months ended September 30, 2000, the company's turnover was Rs 36.09 crore (Rs 26.56 crore). The net profit in the first half year amounted to Rs 1.24 crores (Rs 56.60 lakh).

The company has said in a release that ``the increase in oil prices coupled with low growth rates in industrial and agricultural production is expected to have an adverse impact on sales of commercial vehicles and tractors during the second-half of the c urrent year.'' -- Our Bureau