Despite losses from a lease contract termination and an impairment charge from newly commissioned plants, Linde India Limited’s latest financials show that revenue and operating profits saw double-digit improvements.
Net revenue for the third quarter, ended 30th September 2016, stood at Rs. 4,650m ($6.9m) – a double-digit increase of 16% compared to the same period last year.
Despite these increases in sales and operating profit, a depreciation charge and financing costs of the Tier One corporation’s newly commissioned air separation units (ASUs) at Tata Steel’s steelworks in Kalinganagar contributed to a loss before tax of Rs. 79m ($1.2m) and net loss of Rs. 55m ($8.2).
Recognition of loss from termination of a finance lease contract of Rs 47m ($7m) and impairment charge of Rs 14m ($2.1m) for an asset also contributed to this loss.
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