HOCL Q1 net loss widens to Rs 45.04 crore
Hindustan Organic Chemicals Ltd (HOCL) net loss widened to Rs 45.04 crore for the first quarter ended on June 30 due to fall in sales.
By PTI | Updated:
NEW DELHI: State run Hindustan Organic Chemicals Ltd ( HOCL) net loss widened to Rs 45.04 crore for the first quarter ended on June 30 due to fall in sales.
The company had posted net loss of Rs 34.53 crore in the April-June quarter of 2012-13 fiscal.
Total Q1, 2013-14 income of the company has more than halved to Rs 64.31 crore, from Rs 154.08 crore in the same period last financial year, HOCL said in a filing to the BSE.
HOCL has two units at Rasayani in Maharashtra and Kochi in Kerala. It manufactures phenol, acetone, formaldehyde, nitrobenzene, aniline, nitro toluene and hydrogen peroxide, among other items.
On August 2, the Cabinet Committee on Economic Affairs extended the government's guarantee of Rs 100 crore for five years up to August 28, 2017. It will continue to remain valid even on referral of HOCL to the Board for Industrial and Financial Reconstruction ( BIFR) as sick company.
The company, due to continuous losses, was registered with the BIFR as a sick company in January 2005. Subsequently, a rehabilitation proposal was approved and implemented by the Government during 2006-07.
The company had posted net loss of Rs 34.53 crore in the April-June quarter of 2012-13 fiscal.
Total Q1, 2013-14 income of the company has more than halved to Rs 64.31 crore, from Rs 154.08 crore in the same period last financial year, HOCL said in a filing to the BSE.
HOCL has two units at Rasayani in Maharashtra and Kochi in Kerala. It manufactures phenol, acetone, formaldehyde, nitrobenzene, aniline, nitro toluene and hydrogen peroxide, among other items.
On August 2, the Cabinet Committee on Economic Affairs extended the government's guarantee of Rs 100 crore for five years up to August 28, 2017. It will continue to remain valid even on referral of HOCL to the Board for Industrial and Financial Reconstruction ( BIFR) as sick company.
The company, due to continuous losses, was registered with the BIFR as a sick company in January 2005. Subsequently, a rehabilitation proposal was approved and implemented by the Government during 2006-07.
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