JAGATJIT COTTON MILLS-Modernisation Programme

which is covered seven times by earnings as against four times in the previous year. While sales have increased by 9.47 per cent to Rs 48.56 crore, gross profit has advanced by 55 per cent to Rs 7.55 crore. Both depreciation and taxation have claimed more than in the previous year. Even so, net profit has soared to Rs 4.54 crore from Rs 2.60 crore.