Bizbits

Dunlop losses at Rs 101 crCalcutta: Closed tyremaker Dunlop India Ltd on Friday reported a marginal increase in gross loss during its lat...

Dunlop losses at Rs 101 cr
Calcutta: Closed tyremaker Dunlop India Ltd on Friday reported a marginal increase in gross loss during its latest full accounting year, together with a lower loss for the six months to September 1999. Dunlop said it piled up a gross loss of Rs 101.29 crore (Rs 81.03 crore annualised) for the 15-month accounting period to March 31, 1999, against Rs 58.57 crore (Rs 78.09 crore annualised) in the previous period of nine months to December 1997. This is the fourth successive change of accounting period by the company,

which declared a work suspension at its factories in February 1998. In 1995-96, it had settled for a 15-month accounting period which was changed to 12 months in 1996-97 and then again to nine months in 1997. Now, it has reverted to a 15-month accounting period. Net sales dropped to Rs 26.68 crore (Rs 21.34 crore annualised) in the 15 months to March 31, 1999, against Rs 207.77 crore (Rs 277.03 crore annualised) in the nine months.

Silverfalls
MUMBAI: A sharp fall in silver prices marked trading on the bullion market on Saturday. Gold also reacted marginally on lack of local demand. Silver prices declined further on poor industrial buying and lower New York advices. Silver spot (.999 fineness) and tenderable silver both dropped by Rs 75 to each to Rs 8140 and Rs 8145 close of Rs 8215 and Rs 8220 respectively. Raw-silver (.916 fineness) also declined by Rs 60 to Rs 8020 from Rs 8080 previously. Standard gold and 22-carat gold (nominal price) both showed a marginal fall of Rs 10 each to Rs 4590 and Rs 4245 respectively.