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

A+| A| A-

Out of Proportion

AMERICAN REFRIGERATOR earned a gross profit of only Rs 5 lakhs during the year to April last compared to Rs 33 lakhs in the previous year, though sales were only slightly lower at Rs 2.27 crores (Rs 2.32 crores). This outcome is blamed on a strike. It is stated that turnover of own manufactured goods, the more profitable line, was considerably reduced. Net profit is only Rs 1 lakh (Rs 10 lakhs) and over two-thirds of equity dividend (slashed from 15 to 10 per cent) will be paid out of reserves. Last year the company issued bonus shares on a one-for-four basis, Production of blowers has already started.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Back to Top