Spic reports higher Q1 loss

By Our Special Correspondent

CHENNAI, AUG. 23. Southern Petrochemical Industries Corporation Ltd. (Spic) has reported a sharp fall in the unaudited turnover for the quarter ended June 2001 to Rs. 236.24 crores, down from Rs. 363.57 crores in the same quarter last year. Other income has also declined to Rs. 4.90 crores from Rs. 5.64 crores in the corresponding quarter last year.

The company has provided for an interest of Rs. 55.22 crores (Rs. 49.79 crores). Depreciation has claimed Rs. 10.80 crores (Rs.12.55 crores). The company has reported a loss before tax of Rs. 39.51 crores for quarter ended June 2001 against Rs. 18.86 crores. The company has not made any provision for taxation. A release from the company says that the provision for taxation, including deferred tax liability, if any, will be considered at the year-end.

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Section  : Business
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