The company recorded a sales of Rs 25.92 crore for the quarter ended December 31, 2000, compared to Rs 16.75 crore for the corresponding quarter in the previous year. Whereas its net losses for the period decreased to Rs 1.59 crore as against Rs 18.14 crore in the third quarter of 1999, that included adjustment towards a one-time product line and business methods restructuring costs of Rs 14.83 crore incurred in that quarter. According to a company release, the operating cash losses of the company have been reduced to Rs 0.23 crore in the quarter compared to Rs 2.6 crore in the corresponding period of 1999.

As a part of its restructuring operations, the company's board has recommended rationalisation of production capacities and a reduction in capital employed at its Manapakkam unit, where there has been no production since October 2000.

It is also considering the restructuring of its joint venture business, Leaf Parry Ltd. However, no provisions for that have been made in the company's accounts.

At the board meeting on January 17, 2001, the company has called off a joint venture agreement signed with the Spanish company Chupa Chups by mutual consent without any liabilities to the company.

The company recorded a gross profit of Rs 1.05 crore for the third quarter against a loss of Rs 15.34 crore in the corresponding quarter of 1999. And its total expenditure reduced to Rs 25.29 crore from Rs 33.23 crore.

For the year ended March 31, 2000, the confectionery major had showed a sales of Rs 93.99 crore and a net loss of Rs 16.58 crore. And for the nine months ended December 31, 2000, it had registered a sales of Rs 79.68 crore (Rs 67.70 crore) and net loss of Rs 6.09 crore (Rs 22.67 crore).