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Kesoram Ind net at Rs 2.05 cr

KOLKATA: The B.K. Birla outfit, Kesoram Industries Ltd (KIL), has posted a profit-after-tax (PAT) of Rs 2.05 crore on a turnover of Rs 331.98 crore during the second quarter ended September 30, 2001. The board of the company took the unaudited results on record here on Monday.

According to the notes to the accounts, since the mergers of Bharat General and Textiles Industries and Birla Century Finance with the company were given effect from April 1, 2001, the results of these companies have been included in the KIL results. ``T herefore, the previous period figures are not comparable with the current figures,'' the note said.

KIL had recorded a PAT of Rs 9.08 crore in the second quarter of 1999-2000 on a net sales of Rs 327.86 crore.

The company has made a provision for deferred tax -- for the half-year -- of Rs 4.77 crore in the second quarter accounts. In the corresponding period of the previous year, there was no such provision.

However, the company sources admitted that there was severe pressure on margins in the current quarter, which led to the profit squeeze.

Pursuing the buyback operations, the management has mopped up 2,48,290 shares through open market operations till October 20. The average buyback price, the company said, had been Rs 24.39 (including brokerage) per share of Rs 10 each. Shareholders have already authorised the board to buy back up to 78,42,280 shares at a maximum price of Rs 40 a share. -- Our Bureau