Financial Daily from THE HINDU group of publications
Thursday, Oct 31, 2002
Financial Daily from THE HINDU group of publications Thursday, Oct 31, 2002 |
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Agri-Biz & Commodities
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Foods & Food Processing Corporate Results - Foods & Food Processing Agro Tech incurs loss Our Bureau
HYDERABAD, Oct. 30 AGRO Tech Foods Ltd (AFTL), a subsidiary of global food major ConAgra, has posted a sales income of Rs 289.4 crore, other income of Rs 2.2 crore and a net loss of Rs 12.9 crore during the quarter ended September 30, 2002. Though the company's turnover is 25 per cent higher than the Rs 231.70 crore registered during the same period last year, it had incurred a net loss on account of an operating loss of Rs 1.3 crore and the costs pertaining to the settlement of the Mantralayam undertaking and those associated with the discontinuance of its operations. During the quarter under consideration, AFTL had amortised an amount of Rs 7 crore towards the first instalment due to ITC under this agreement. Besides, an amount of Rs 4.6 crore was provided towards non-recurring and non-operational costs arising out of such settlement.
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