1600% capital increase in the East

According to Tejarat News, Iran Khodro Diesel Company (East) decided to increase its capital by 1,631 percent in the extraordinary general assembly of the 12-month period ending March 20, 2014.

According to the decisions of this general assembly, which was held on November 27, 1400. The capital of Iran Khodro Diesel Company increased from 498 billion Tomans to 8,100 billion Tomans.

The place of financing is the increase of capital, receivables and cash inflows and revaluation surplus of assets.

Khavar had made a profit of 554 Rials per share in the information and financial statements for the 6-month period ending 31 September 1400 (unaudited).

This realization of profit was while the company had recognized a loss of 699 Rials per share in the same period of the previous year.