45IT Comw.bk.a.26

RNS Number:8101E
SIEL Ld
1 February 2000

  UNAUDITED FINANCIAL RESULTS (PROVISIONAL) OF THREE MONTHS ENDED 31.12.99

                                                               Rs.in Million
                                       Three months ended      Year ended
                 PARTICULARS            31.12.99   31.12.98    30.9.99
SL.                                                            (12 months)
NO.                                                             audited

1    Net sales                             1,308        977            4,918

2    Other income                              8         15              170

3 (a)Total expenditure                     1,213        879            4,568
  (b)Loss on sale of long term investment      -          -              100

4    Interest(net)                           120        108              538

5    Gross profit/(loss) after
     interest but before                     (17)         5             (118)
      depreciation and tax

6    Depreciation                             51         26              170

7    Profit/(loss) before tax                (68)       (21)            (288)

8    Provision for tax                         -          -                -

9    Net profit/(loss)                       (68)       (21)            (288)

10   Paid-up equity share capital            339        339              339

11   Reserves excluding revaluation reserves   -          -            1,901
     (as per balance sheet of previous year)


Notes :

1 The above results have been taken on record by the Board of Directors in its
  meeting held on 31.1.2000

2 Pending declaration of levy price of Sugar for the season 1999-2000, an
  estimated Profit of Rsl3 million for the quarter ended December 99 has not    
 been considered.

3 The Y2K transition was smooth.

4 The accounts for the year ended 30.9.99 have been approved by the Board of
  Directors in its meeting held on 31.1.2000 and are subject to approval by the
  shareholders.

END
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