Electrotherm taps CDR cell for 2nd time for R3,200-cr recast

Updated: Jan 2 2014, 09:16am hrs
Electrotherm India has approached the CDR cell for the second time with a request to recast R3,200 crore, senior CDR officials said. A 17-bank consortium, led by Bank of India, will decide on the debt recast package this month, according to one lender. For the quarter ended September 30, Electrotherm reported a net loss of R119.4 crore. The loss reported in the September 2012 quarter was R91.5 crore. Total income from operations stood at

R296.8 crore during the July-September period, against R277.4 crore a year earlier.