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Anju Ghangurde
Mumbai, July 17: Atul Ltd, a Lalbhai group company, has registered a 11 per cent increase in sales at Rs 114 crores for the first quarter ended June 30, 1999. Gross profit from operations increased by Rs 7.5 crores to Rs 3.7 crores, from a loss of Rs 3.8 crores. Exports rose 27 per cent to touch Rs 49 crores.
After providing for depreciation, the company registered a net loss of Rs 4 crores. Atul managing director, Sunil S Lalbhai said, "While there is an improvement in our performance in the first quarter, the extent and pace has not been satisfactory. We are nonetheless confident of a complete turnaround in this year".
Meanwhile, another Lalbhai group company, Amal Products has registered a lower net loss of Rs 1 crore (previous year Rs 3 crores) on a turnover of Rs 10 crores for the quarter ended June 30, 1999, as compared with a net profit of Rs 50 lakhs on a turnover of Rs 12 crore in the corresponding period of the previous year.
According to a company press release, the company has had five yearsof steady growth with sales touching Rs 43 crores and a net profit of Rs 4 crores in 1997-98.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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