Financial Daily from THE HINDU group of publications
Thursday, Jan 24, 2002
Financial Daily from THE HINDU group of publications Thursday, Jan 24, 2002 |
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Corporate
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Performance DCM Shriram sales turnover up 11 pc in Q3 Our Bureau
NEW DELHI, Jan. 23 DCM Shriram Consolidated Ltd (DSCL) has reported 11-per cent increase in sales turnover at Rs 323.43 crore for the quarter ended December 31, 2001 as compared to Rs 292.45 crore in the corresponding period last year. The increase in turnover was mainly attributed to a higher turnover of its trading products, according to a company release. However, due to severe price pressure in commodities businesses such as plastics and chemicals, the operating profit for the quarter ended December 31, 2001 was lower at Rs 28.62 crore (Rs 36.92 crore). The operating profit for the nine-month period ended December 31, 2001 was at Rs 95.19 crore (Rs 105.05 crore). The company had been actively working on several cost reduction schemes, which had partly offset the effect of severe price reduction in plastics and chemical businesses to some extent, it said. The scheme of arrangement for transfer of polymer processing business to its subsidiary with effect from July 1, 2001 approved by the shareholders and creditors of the company was pending orders of the Delhi High Court, the release said.
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