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Nirma to increase soda ash capacity

Indian company Nirma Ltd has posted a net profit of INR 49.89 for the second quarter ended 30 September, reflecting a 28% fall from INR 68.95 recorded in the same period the previous year.
Net sales …

Indian company Nirma Ltd has posted a net profit of INR 49.89 for the second quarter ended 30 September, reflecting a 28% fall from INR 68.95 recorded in the same period the previous year. Net sales also showed a negative growth rate at INR 454.27. Net profit for the first six months of the fiscal stood at INR 108.52, while net sales were INR 1,156.87. Interest costs stood at INR 60.94 for the six months, but the significant rise came during the quarter under review when it shot up to INR 30.30 from INR 17.91 in the previous year. The company“s board of directors said that it did not anticipate any impact on its tax liability position on account of the income-tax raids carried out on its premises. Earlier, at a meeting of the board of directors on 12 October, it had been decided that Nirma would increase its installed capacity of soda ash from 4,20,000 tpa to 6,50,000 tpa at an approximate cost of INR 110, to be raised largely from internal accruals.

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