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Aban Loyd profit dips 32% in '99-00
TMA Raman
Chennai, Aug 4: Chennai-based Aban Loyd Chiles Offshore Ltd has reported a 16 per cent growth in turnover to Rs 114.41 crore for the year ended March 31, 2000 from Rs 98.26 crore in the previous year. However, net profit has declined sharply by 32 per cent to Rs 5.93 crore from Rs 8.70 crore in the previous year. Provision for taxation for the fiscal under review amounted to Rs 70 lakh. Interest accounted for Rs 10.82 crore (Rs 12.60 crore) and depreciation Rs 14.09 crore (Rs 13.66 crore). The company has maintained dividend at 20 per cent while dividend outflow will be around Rs 1.26 crore. It has also transferred Rs 40 lakh to general reserve (Rs 53 lakh). The company's rigs have been given on contract to ONGC and are currently deployed at Mumbai High, a company press release said. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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