Sirpur Paper Mills Ltd has informed that in the limited review report of the Company for the quarter ended June 30, 2007, the Auditors of the Company have made the following observations:
Attention is drawn to the following:
1. Note 3 of the unaudited financial results regarding non reversal of excess provision of Rs 943 lakhs towards deferred tax liability. Had such adjustments been considered in these financial results, Net Profit for the quarter ended June 30, 2007 would have been Rs 1,193 lakhs (as against the reported figure of Rs 250 lakhs).
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