The losses of power distributing firms to the government-owned power generating firms have swelled to a mammoth Rs 15,792 crore at the end of last September while last yearÂ’s government promised loss restructuring package for electricity distribution companies is yet to be realised. The swelled sum is a two-and-a-half times jump over total dues of Rs 6,200 crore three years back in June 2010.
Tag: losses
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SCI to foray into dredging operation
Shipping Corporation of India (SCI) is taking efforts to diversify its operation into allied areas in order to mitigate losses on the back of slowdown in the global shipping industry. The company, which is suffering losses from its mainstream business, plans to diversify into dredging operation
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High cost causes Tata Steel to post consolidated loss
For the quarter ending September 2012, the Tata Steel posted a consolidated net loss of Rs 363.9 crore
compared to a net profit of Rs 212 crore for the year-ago period. The company attributed losses to lower steel prices and higher raw material costs, coupled with the poor performance of its Europe division, Tata Steel Europe, whic