Financial Daily from THE HINDU group of publications
Friday, Apr 18, 2003
Financial Daily from THE HINDU group of publications Friday, Apr 18, 2003 |
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Corporate
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People Bijoy Kumar is CMD of Vizag steel Our Bureau
KOLKATA, April 17 MR Bijoy Kumar Panda has taken over as the Chairman and Managing Director of Visahkapatnam Steel Plant (VSP). In 2000, he had taken over as Director (Operations). According to a VSP press release, under his guidance the company's power plant improved its performance and became a net exporter of power to the State grid. In the last financial year 2002-2003, VSP registered a net profit of Rs 450 crore. The gross margin was around Rs 1,045 crore and cash profit was Rs 910 crore. The company was successful in restructuring its debts. VSP swapped a part of its high interest bearing loans with softer interest loans from banks and repaid the entire outstanding loan of UTI (Rs 590 crore) and Rs 85 crore out of Rs 160 crore to the banks.
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