HYDERABAD, Apr 28: Samkrg Pistons Ltd has posted a higher net profit of Rs 6.8 crore for the year ended March 31, 1999 as against Rs 6.2 crore during the previous year ended March 31, 1998. The sales turnover shot up to Rs 41 crore as against Rs 38 crore during the previous year. The board of directors met on April 27, 1999 to finalise the unaudited financial results for the fourth quarter ending March 31, 1999.
The total expenditure incurred during 1998-99 increased to Rs 24.6 crore as against the previous year's Rs 23.6 crore. The gross profit after interest but before depreciation, taxation improved to Rs 11.7 crore (Rs 10.6 crore).
The interest cost shot up to Rs 4.3 crore from Rs 4 crore due to a term loan of Rs 5 crore from IDBI for the expansion of rings project capacity from 5 million to 7.5 million per annum.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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