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Monday, 8 August 2011

Scooters India to reduce net loss to Rs 17.9 crore

NEW DELHI: Sick state-owned Scooters India Ltd (SIL) has set a target to cut its net losses marginally to Rs 17.9 crore in 2011-12 from Rs 18.4 crore in the last fiscal by reducing its operational cost and increasing the production.

 The company has pegged the production increase by 10% and reduction of operational cost by 5%, according to the Memorandum of Understanding (MoU) between the company and its administrative ministry of heavy industries and public enterprises. The ailing unit is likely to register an increase in its gross sales to Rs 223.2 crore in this fiscal from Rs 171.2 crore in the last year. Vcommindia News

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