ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Setback for Indian Iron

Setback for Indian Iron

has suffered a sharp setback in its working during the year ended March 31, 1967. The preliminary figures released by the Com- pany along with the dividend announcement indicate that the gross profit has come down by 28.6 per cent from Rs 14.27 crores to Rs 10.19 crores during the year. The gross profit had come down from Rs 15.91 crores to Rs 14.27 crores in 1965- 66. The provision for depreciation is higher at Rs 4.49 crores compared to Rs 4.41 crores in the previous year. The pre-tax profit has thus declined to Rs 5.70 crores from Rs 9.86 crores. The provision for taxation is lower at Rs 1.68 crores against Rs 4.31 crores. The net profit has thus come down to Rs 4.02 crores from Rs 5.55 crores, a fall of 28 per cent. The directors have transferred Rs 1.73 crores (Rs 3.26 crores) to reserves.

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