global infrastructure technologies ltd Management discussions


GLOBAL INFRASTRUCTURE AND TECHNOLOGIES LIMITED ANNUAL REPORT 2004-2005 MANAGEMENT DISCUSSION AND ANALYSIS During the year under Report, the Company had operated in Real Estate Operations, Contract business and Manufacturing activities. During the year under Report, the Income from operations of the Company was dropped to Rs. 732.88 Lacs against Rs. 963.77 Lacs of the previous year. Ho Never, the other income of the Company mainly attributed from profit on sale of assets, amounted for Rs. 2154.65 Lacs as against Rs. 20.64 Lacs of the previous year. The Loss incurred by the Company during the year was also higher at Rs. 445.42 lacs as against Rs. 109.79 lacs of the previous year. The Company during the year under report earned the Profit of Rs. 107.29 Lacs as against the Loss of Rs. 445.42 Lacs of he previous year. The accumulated losses of the Company as of the end of the year under report, accordingly stood reduced at Rs. 2530.32 Lacs as against Rs.2637.61 Lacs of the previous year. ORDER OF BIFR As reported in the Directors Report of the earlier year, the Company had filed reference before the Honble BIFR under Section 15 (1) of Sick Industrial Companies (Special Provisions) Act 1985. Accordingly the Company has been declared as a sick Company under SICA Act, 1985 by the Honble BIFR vide its order dated 22nd August, 2005.