At its board meeting held 26 October 2007, Asahi India Glass Ltd., India“s largest integrated glass company announced unaudited gross sales and operating profit for the half-year to 30 September 2007…
At its board meeting held 26 October 2007, Asahi India Glass Ltd., India“s largest integrated glass company announced unaudited gross sales and operating profit for the half-year to 30 September 2007 of INR 5.675 billion and INR 1.277 billion respectively, up 38.38% and 79.61% on the same period in 2006. Speaking on the occasion, Mr. Sanjay Labroo, MD and CEO, AIS said, “Our profitability is favourably impacted mainly on account of gain on foreign exchange fluctuations, increasing the “Other Income“ by INR 596.2 million. Increase in cost of key inputs like power and fuel, materials, etc. resulted in higher operating costs, adversely impacting profit margins. Staff cost was adversely impacted due to VRS (voluntary retirement scheme) for contract workers given at Taloja Plant. With commissioning of the automotive safety glass plant at Roorkee from 16 October 2007, all the manufacturing units at the Integrated Glass Plant at Roorkee have become fully functional. The expected better performance by the Float Glass SBU and commissioning of all the manufacturing units at Roorkee Plant should help improve overall performance during the 2H of the financial year”.