Crisis in steel industry affects Essar steel's Q1, FY 2002 performance
ESSAR STEEL LIMITED
Regd. Office : Post Hazira, Pin 394 270, Dist Surat
Corp.Office : Essar House, 11 Keshavrao Khadye Marg, Mahalaxmi, Mumbai 400 034.
Unaudited Financial Results (Provisional) for the quarter ended June 30, 2001
Particulars
Quarter ended
(Rs in million)
Previous Year
30.06.2001
30.06.2000
ended 31.03.2001
( audited )
Sales
5,771.7
6,862.4
25,188.3
Other Income
15.2
65.0
462.2
Total
5,786.9
6,927.4
25,650.5
Total Expenditure
a) (Increase) / Decrease in Finished Stock/WIP
370.2
(956.3)
(542.0)
b) Consumption of materials
3,494.9
4,218.0
13,767.4
c) Staff cost
106.0
110.0
488.0
d) Other expenditure
1,275.9
1,311.7
5,860.1
Gross profit before interest, depreciation, amortisation and taxation (EBIDTA)
539.9
2,244.0
6,077.0
Interest and similar charges – Net
1,492.6
1,120.1
6,470.7
Gross profit / (loss) before depreciation / amortisation and taxation
(952.7)
1,123.9
(393.7)
Amortisation / Deferred Revenue expenses written off
157.0
132.9
674.4
Depreciation ( Previous year net of write back of depreciation of earlier years )
1,029.1
942.7
2,391.0
Gross profit / (loss) before taxation
(2,138.8)
48.3
(3,459.1)
Provision of taxation
-
-
-
Net profit / (loss)
(2,138.8)
48.3
(3,459.1)
Paid-up equity share capital
3,303.5
3,303.5
3,303.5
Reserves excluding revaluation reserves as at 31st March
6,559.8
Basic and diluted EPS for the quarter and for the previos year ( unannualised )
(6.47)
0.15
(10.47)
Notes:
The above results were taken on record at the meeting of Board of Directors held on July 27,2001.
Interest has been calculated on the basis of approval of the lead Institution for it’s loans. Approval process by some of the participating Institutions is under progress.
Deprecation has been computed on the basis of unit of production method and the approval from Government of India is awaited
Figures have been regrouped wherever necessary to make them comparable.
CORPORATE
