Half Yearly performance

Consolidated sales for the period were down by 39% to Rs 620.40 crore. With OPM being negative 9.1% (compared to positive 13% in the corresponding previous period) the operating profit was a loss of RS 56.51 crore (compared to a profit of RS 133.16 crore in the corresponding previous period). The PBT was loss of RS 109.29 crore (compared to a profit of RS 83.81 crore in corresponding previous period) after accounting for lower other income, higher interest and lower depreciation. Eventually at PAT level it was a loss of Rs 82.91 crore (compared to a profit of Rs 22.41 crore in corresponding previous period) with taxation being a write back of Rs 26.38 crore, a swing of Rs 48.79 crore from a provision of RS 22.41 crore. After accounting for higher share of loss from JV (to RS 4.89 crore a swing of Rs 6.29 crore from a profit of Rs 1.40 crore) and MI (being a share of loss of Rs 3.41 crore, up 387%), the net loss was Rs 84.39 crore (compared to a profit of RS 63.51 crore in the corresponding previous period).