Weighed Down by Textile Crisis

DCM, formerly Delhi Cloth and General Mills Company, has suffered a setback m its working during the year ended June 1983., Gross profit has shrunk to Rs 12.75 crore from previous year's Rs 15,06 crore despite increase in turnover from Rs 398 crore to Rs 432 crore. After depreciation and taxation, there is a net loss of Rs 3.17 crore against a net profit of Rs 3.50 crore previously. Depreciation has uniformly been calculated on building and plant and machinery on 'straight line' basis and on other assets on 'written-down value' basis. The resultant excess depreciation provision of previous'years amounting to Rs 16.35 crore has been written back. This hfcs enabled the company to announce an unchanged 15 per cent dividend.