Bannari Amman to merge with Maheswara Sugars
Bannari Amman to merge with Maheswara Sugars >The equity shareholders of Bannari Amman Sugars, at its general meeting held on Sep. 21, 2007, approved the merger of Maheswara Sugars with the company.
As per the latest result available, Bannari Amman Sugars disclosed a steep drop of 62.64% in net profit for the quarter ended in June 2007. During the quarter, the company reported fall in profit to Rs 76.46 million from Rs 204.67 million in the same quarter last year.
Sales for the quarter declined 17.31% to Rs 1,377.64 million compared with the corresponding quarter, a year ago.
Shares of the company declined Rs 3.75, or 0.54%, to settle at Rs 685. The total volume of shares traded was 1,969 at the BSE.(Wednesday)
