Asahi India net dips 89.89%

As a result of last year's heavy flooding in the Western States, Asahi India Glass (AIS) has reported a 89.89 per cent drop in its net profit at Rs 2.47 crore for the quarter ending December 31 as compared to Rs 24.44 crore in the corresponding period last year.

While gross sales for the third quarter clocked Rs 150.21 crore, the figure for the nine-month period ending December 31 was Rs 518 crore.Attributing the fall in the performance to the temporary closing down of the company's float glass plant, Sanjay Labroo, Managing Director and CEO of AIS said, "The flooding and the resultant shut down of our float glass plant at Taloja, impacted AIS's performance during the current quarter also."

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