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SWC posts Rs 2.7cr Q1 net 

 
Calcutta, Aug 1: Shaw Wallace and Company Ltd has reported a net profit of Rs 2.75 crore for the first quarter ended June 30, 2000 against Rs 2.72 crore in the corresponding quarter last year.

Net sales during the period increased to Rs 198.19 crore from Rs 182.35 crore while other income came down sharply to Rs 2.56 crore from Rs 6.42 crore. Total expenditure climbed to Rs 183.50 crore from Rs 167.97 crore, mainly because of increase in staff cost and other expenditure, a company release said.Interest charges during the quarter stood at Rs 13.70 crore against Rs 17.37 crore in the same quarter of 1999-2000. Provision for depreciation stood high at Rs. 0.55 crore againstRs. 0.35 crore last year while a lower provision of Rs. 0.25 crore (Rs. 0.36 crore) has been made for taxation during the quarter. The company said that in October, 1999, it had filed a new scheme of compromise under section 391 of the companies act, 1956 in the Calcutta HC.

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