“Travel advisories issued by several countries after the terrorist attack on Mumbai in November 2008 continued to adversely affect and tourism. Business was further adversely affected due to global economic downturn,” the company said in a statement.
Net sales of the company, in which Analjit Singh is set to buy a controlling stake, were also down 33 per cent to Rs 156 crore compared to Rs 234.2 crore for the same period of the previous financial year
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