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Usha Martin suffers loss in Q2 of 2014-金属板材展-线材展-金属加工展-2015第十六届广州国际金属板材、棒材、线材及金属加工、配套设备展—全球三大金属展之一巨浪展览-THE 16th GUANGZHOU INTERNATIONALPLATEMETAL, BAR, WIRE, METAL PROCESSING & SETTING EQUIPMENT EXHIB
11/10/2014 金属板材展-线材展-金属加工展-plate metal expo-wire expo |
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The Telegraph reported that Usha Martin Ltd reported a consolidated net loss of INR 65.30 crore for the Q2 ended September 30th 2014, against a profit of INR 86 lakh in the year ago quarter.
The company has been hit hard by the Supreme Court order on coal block allocation under which its mines at Kathuatia and Lohari have been cancelled. It has made a provision of INR 70.67 crore under exceptional items for the quarter for the 2.4 million tonnes coal mined from Kathuatia till September 30th. The Supreme Court has imposed a fine of INR 295 per tonne of coal produced at the cancelled mines already in operation.
Mr Prashant Jhawar, chairman of Usha Martin, said that "The coal block de-allocation impacts a company like Usha Martin. However, we will now be participating in the re-bidding process and see how we can secure raw materials."
金属板材展-线材展-金属加工展-2015第十六届广州国际金属板材、棒材、线材及金属加工、配套设备展—全球三大金属展之一巨浪展览-THE
16th GUANGZHOU INTERNATIONALPLATEMETAL,
BAR, WIRE, METAL PROCESSING & SETTING EQUIPMENT EXHIBITION
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