Itc Bhadra In The Red By Rs 46.34 Cr

ITC Bhadrachalam Paperboards Ltd, which recently finalised its restructuring plan, has suffered a staggering net loss of Rs 46.34 crore for the six months ended September 1998. This is only marginally lower than the Rs 48.96 crore net loss for the previous fiscal.

For the second quarter ended September, 1998, the company yesterday announced a net loss of Rs 24.38 crore against a net profit of Rs 4.72 crore in the corresponding period the previous fiscal.

Net sales registered a 42.98 per cent growth to Rs 79.20 crore from Rs 55.39 crore in the corresponding period the previous year.

Sales during the half year at 63,680 tonne registered a 53 per cent growth over the same period last year. Total expenditure during the second quarter increased to Rs 78.50 crore from Rs 45.15 crore in the corresponding period of the previous fiscal.

Gross loss after interest and finance charges but before depreciation and taxation dipped to Rs 14.93 crore compared with a gross profit of Rs 8.68 crore in the last fiscal.