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Thursday, January 21, 1999

Vishnu Cements goes into red with Rs 1.5 cr loss 

Our Bureau  
Hyderabad, Jan 20: Hyderabad-based Sri Vishnu Cements Ltd has reported a net loss of Rs 1.49 crore for the third quarter ending December 1998. For the same period during last year the company had posted a net loss of Rs 1.29 crore.

According to the financial results, Vishnu Cements has posted a sale income of Rs 30 crore and a gross loss of Rs 56 lakh for the same period. The company has posted a consolidated sales of Rs 108 crore for nine months during the current year while earning a net profit of Rs 2.31 crore.

The company has to cut its production on par with other big players due to reduction in the cement prices during the quarter under review, the company sources said. For the nine-month period the compnay has produced about 5.45 lakh tonnes of cement.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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