04 February 2002 07:42 [Source: ICIS news]
NEW DELHI (CNI)--Indian acrylic fibre major Pasupati Acrylon sank deeper into the red through its operating loss increasing by 31% in the third quarter of the financial year ending 31 March 2002 from the same period in 2000-01. The company's operating loss grew to Rs43.2m ($890 720/Euro1.03m) from Rs33m.
The producer been in loss since 1998-99.
It net loss increased by 8.8% to Rs117.4m from RS108m. PAL's gross sales, inclusive of excise duty, grew by 17.7% to Rs473.3m from Rs401.9m.
Pasupati Acrylon operates a 22 500 tonne/year acrylic fibre plant at Thakurdwara in the Moradabad district of Uttar Pradesh, India.
The operations of all Indian acrylic fibre manufacturers came under pressure after imports were liberalised in the early 1990s.
Indian acrylic companies have struggled to withstand competition from imports, mainly due to the small size of their plants and competition from other fibres.
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