Piramal Glass Q3 loss widens to Rs 37.14 cr

Piramal Glass Ltd  has posted a higher net loss of Rs 37.14 crore  in the third quarter ended December 2008 as against Rs 1.28 crore in the same period in 2007-08 due to rise in raw material costs and foreign exchange liabilities.

Its income from operations for the reporting quarter rose to Rs 276.02 crore from Rs 189.69 crore in October-December 2007, the company informed the Bombay Stock Exchange on January 20, 2009.Its expenditure rose to Rs 283.50 in Q3 from Rs 170.95 crore a year ago.The raw material cost grew sharply to Rs 63.60 crore from Rs 36.98 crore in Q3 of 2008-09. It incurred a foreign exchange loss of Rs 27.81 crore in the third quarter ended December 2008.

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