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Sunday, January 24, 1999
IPCL wipes out losses
ENS ECONOMIC BUREAU
MUMBAI, Jan 23: Despite competition from increasing imports and oversupply of polymer products, Indian Petrochemicals Corporation's (IPCL's) net profit has risen to Rs 35.56 crore during the third quarter ended December 1998 from Rs 11.75 crore. The cumulative net profit for the second and third quarters has wiped off the huge losses suffered during the first quarter.Net sales have also increased sharply to Rs 734.66 cr during the quarter ended Dec 1998 from Rs 218.22 crore. While the gross profit is Rs 105.35 crore, depreciation is Rs 68.41 crore. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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