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Triveni Glass swings to loss in `Sept 06Triveni Glass swung to a loss for the quarter ended September 30, 2006. During the quarter, the company reported a loss of Rs. 6.7 million as compared with a profit of Rs. 44.90 million in the corresponding quarter of the previous year. Sales for the quarter declined 36.54% to Rs. 296.10 million compared with the corresponding quarter, a year ago. The EPS for the quarter declined to Rs. 5.3 from Rs.5.2. The company will issue, offer and allot 40 lakh equity shares of Rs 10 each at par aggregating Rs 4 crore to Stressed Assets Stabilization Fund (SASF) of IDBI in terms of their sanction letter dated April 19, 2005.
Incorporated in 1971, Triveni Glass is promoted by Triveni Sheet group (D N Agarwal). The company is engaged in float glass, sheet glass, figured & wired glass, neutral glass tubes & wares and mirrors. The plants are located in Iradatganj (Allahabad, Uttar Pradesh) and Meerut (Uttar Pradesh). The company has been referred to BIFR. 27.10.2006, Triveni Glass News material on the Site is copyright and belongs to the Company or to its third party news provider, and all rights are reserved. Any User who accesses such material may do so only for its own personal use, and the use of such material is at the sole risk of the User. Redistribution or other commercial exploitation of such news material is expressly prohibited. Where such news material is provided by a third party, each User agrees to observe and be bound by the specific terms of use applying to such news material. We do not represent or endorse the accuracy or reliability of any of the info contained in any news or external websites referred to in the news.
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