SIEL Ld - 3rd Quarter & 9 Mths Results

RNS No 1526x
SIEL LIMITED
27 July 1999

                              SIEL LIMITED:  NEW DELHI

   Unaudited Financia1 Results (Provisional) of three months ended 30.06.99

                                                                       (Rs. in
                                                                       million)

SL.                         Three months ended    Nine months ended   Year ended
NO.     PARTICULARS         30.06.99  30.06.98    30.09.99 30.06.98    30.06.98
                                                                     (12 months)
                                                                    ------------
                                                                       audited
--------------------------------------------------------------------------------
 1      Net sales              1,274     1,325       3,485    3,900       4,990

 2  (a) Profit on sale of 
        long term investment       1       255          22      846         846
    (b) Other income              15         2          44       24          60

 3  (a) Total expenditure      1,176     1,148       3,204    3,496       4,458
    (b) Provision for                                                 
        diminution in the                                             
        value of long term                                            
        investments                -        86         102      410         537
    (c) Provision for doubtful 
        debts/advances             -        14           -      115         130

 4      Interest (net)           164       124         406      342         448

 5      Gross profit/(loss)                                           
        after interest but                                            
        before depreciation                                           
        and tax                  (50)      210        (161)     407         323

 6      Depreciation              51        25         120       74         105

 7      Profit/(loss) before 
        tax                     (101)      185        (281)     333         218

 8      Provision for tax          -         -           -       10          55

 9      Net profit/(loss)       (101)      185        (281)     323         163

10      Paid-up equity share 
        capital                  339       325         339      325         325

11      Reserves excluding                                            
        revaluation reserves                                          
        (as per balance sheet of                                      
        previous year)             -         -           -        -       2,141


Notes:

1.  The above results have been taken on record by the Board of Directors in its
    meeting held on 27.07.99

2.  Pending declaration of levy price of Sugar for the season 1998-99, an
    estimated profit of Rs.2 million for the quarter (Rs.29 million up to June
    1999) arising on account of difference in levy price between 1997-98 and
    1998-99 has not been considered.

3.  The Company is in the process of acheiving Y2k compliance and is in a
    position to meet the cost.

4.  Profit/(loss) for quarter ended June l999 is not comparable with the
    figures for the quarter ended June l998 which included Rs.255 million as
    profit on sale of long term investment and Rs.10 million as provision
    for diminution in the value of long term investment/doubtful debts/advances.

END


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