Remsons Industries Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:
Attention is invited to note no. 4 of the unaudited financial results for the aforesaid period, the Company has changed its policy of amortizing the expenses under VRS scheme from 36 months to a period of 31 months commencing from the month following the month of separation.
Had the aforesaid change not made the loss after tax for the aforesaid period would have been Rs 51.14 lacs as against reported loss of Rs 54.00 lacs.
Attention is invited to note no. 4 of the unaudited financial results for the aforesaid period, the Company has changed its policy of amortizing the expenses under VRS scheme from 36 months to a period of 31 months commencing from the month following the month of separation.
Had the aforesaid change not made the loss after tax for the aforesaid period would have been Rs 51.14 lacs as against reported loss of Rs 54.00 lacs.
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