123Pune.com

Pune: The Pune-based Kirloskar Brothers Ltd (KBL), manufacturers of pumps, has recorded a net loss for the first quarter this year on a higher turnover.

The company has recorded a total income of Rs 374.16 crore for the first quarter of the current fiscal against Rs 321.42 crore in the corresponding quarter last year. It recorded a net loss of Rs 4 crore in the first quarter of 2008-09 as against a profit of Rs 34 crore last year.

Talking to presspersons after the annual general meeting, Sanjay Kirloskar, Chairman and Managing Director, said the high rise in raw material prices, delay in implementation of certain projects and employee related expenses are the reasons for the company posting a loss.
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