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

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Sound Base for Modernisation

Sound Base for Modernisation Hansavivek TATA IRON AND STEEL COMPANY achieved record revenues and profit during 1978-79 due to price increase ol Rs 175 per tonne effective from June 5, 1978, a better product-mix and lower interest charges. The performance would have been still better but for the production loss of 60,000 tonnes ' owing to coal and power shortages in the second half of the year. Despite ' these and other difficulties, the plant could produce once again virtually 100 per cent of its capacity. The company had to bear increases in operate g costs due to wage revisions for steel workers and colliery workers, in- creases in prices of raw materials and stores. While net sales looked up from Rs 291 crores to Rs 307 crores, gross profit expanded from Rs 26.11 crores to Rs 45,11 crores, reflecting widening of margins. With the tax liability draining away a much higher amount, net profit is Rs 17.55 crores against Rs 7.77 crores previously. Dividend raised by a point to 12 per cent is covered 1.51 times. Last year nearly half of the reduced payment was short-earned.

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