At first look, it seems Ballarpur Industries Ltd (Bilt) has emerged unscathed from its troubled investment in Sabah Forest Industries Sdn Bhd Malaysia. According to Mint’s calculations, it ended up losing about $110 million on its Sabah investments, although a sharp depreciation in the rupee since the time of its investment has meant that in rupee terms, it has earned a marginal profit of Rs.200 crore (see chart).
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