International Business

Pyramid Saimira suffers Rs 100-cr loss

Chennai-based Pyramid Saimira Theatre Ltd (PSTL) said the company suffered a business loss of over Rs 100 crore last year which resulted in an erosion of working capital. Meanwhile, N Narayanan, one of the promoters of the company, took over as the new chairman from P S Saminathan, who will continue to remain managing director. Sensex flat; Metal, IT stocks gain However, in an announcement to the BSE on January 30, 2009, the company had said the group had lost Rs 40.32 crore on account of a Tamil film titled Kuselan; Rs 26.57 crore towards I-T due and Rs 76.32 crore was provided for as an external loss towards foreign exchange.

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