Telco reduces losses

By Our Staff Correspondent

MUMBAI, OCT. 31. Tata Engineering and Locomotive Company (Tata Engineering) has announced a lower loss of Rs. 61.83 crores for the quarter ended September 2001 against a loss of Rs. 158.01 crores in the corresponding period of the previous year.

Net sales for the quarter were Rs. 2,054.48 crores (Rs. 1,899.56 crores). Other income amounted to Rs. 13.71 crores (Rs. 25.91 crores). Interest charges were Rs. 101.27 crores (Rs. 117.81 crores) and amortisation of deferred revenue expenditure Rs. 24.89 crores (Rs. 29.82 crores). Depreciation claimed Rs 86.19 crores (Rs. 85.85 crores). Extraordinary items - employee separation costs - for the quarter were Rs. 9.25 crores (Rs. 3.29 crores).

The company announced a lower loss of Rs. 160.73 crores for the half year ended September 2001 against a loss of Rs. 232.35 crores in the corresponding period of the previous year. Net sales were Rs. 3,761.88 crores (Rs. 3,697.22 crores). Other income amounted to Rs. 20.37 crores (Rs. 54.37 crores).

For the half year, the company produced 37,184 units (42,379 units) of commercial vehicles and sold 33,217 units (35,941 units). It produced 40,089 (40,814) passenger cars and utility vehicles and sold 38,984 units (38,568 units).

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