Business Daily from THE HINDU group of publications
Wednesday, Oct 28, 2009
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Business Daily from THE HINDU group of publications Wednesday, Oct 28, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Financial Performance BOC net profit drops 42% Kolkata, Oct. 27 BOC India Ltd has reported net sales in the third quarter ending September 30 of Rs 214.49 crore, a growth of 61 per cent against the corresponding quarter last fiscal. But the net profit at Rs 12.54 crore declined 42.67 per cent. The company has accounted for an exceptional charge of Rs 11.68 crore on recognition of mark-to-market losses on derivative contract and exchange losses on ECB. In the corresponding quarter last year, the company had recognised a gain of Rs 6.69 crore on this count. In a statement, the company said it intends to adopt AS30 in the current financial year, which would reverse the MTM losses recognised in the July-September quarter. The company said that it would commission in early 2012 a 2,550-tonne-per-day air separation unit (ASU) at Tata Steel’s Jamshedpur plant. It is also acquiring Tata Steel’s three existing ASUs for operation at Jamshedpur. – Our Bureau More Stories on : Financial Performance
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