Research at Lever

amounts to Rs 8 lakhs (Rs 9 lakhs) out of which the unchanged 14 per cent dividend absorbs Rs 7 lakhs. Lower profits are attributed to increased cost of raw materials (particularly timber) and labour. Besides, production was lower at 62,611 cases (66,030 cases) because of a labour strike. Demand for matches remained good through the year and sales were 63,521 cases (65,435 cases), MOGUL LINE expanded its earnings from Rs 2,41 crores in 1966 to Rs 3.47 crores in 1967, and gross profit from .Rs 44 lakhs to Rs 97 lakhs, establish- ing new peaks since its takeover by government. Net profit amounts to Rs 58 lakhs (Rs 30 lakhs), which covers the maintained equity distribution of 7.5 per cent nearly 7.6 times.