ERJ staff report (DS)
Kolkata, India - Sales for the full year at troubled tyre maker Dunlop India Ltd fell to one eighth of their year-ago values, leading the company into a substantial loss.
In the 12 months to 31 March 2012, Dunlop India recorded net sales of Rs 200 million (euro 2.8 million), down from Rs 1732 million in the previous financial year. As a result of the huige decline in sales, the company posted a pre-tax loss of Rs 115 million, reversing the profit of Rs 20 million seen a year previously.
The company said production ceased at its Sahaganj unit following a suspension of operations on 8 October 2011 and at its Anbattur unit from 21 Feb 2012.
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Results statement from Dunlop India via BSE