ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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TIDE WATER OIL COMPANY-New Grease

Rs 647.7 crore to Rs 4,665.8 crore. The inland credit at the end of 1987 amounted to Rs 3,740 crore, registering a growth of 14.4 per cent. new activity had acted as a drain on the company's resources and pre-empted development in other more promising areas related to the traditional pharmaceutical operations. The company offered a voluntary separation scheme to the division personnel which has been accepted by a large majority, barring a few who requested higher compensation on compassionate grounds. Meanwhile, the company has registered a turnaround in its fortunes during 1986-87 with a gross profit of Rs 201 lakh as against a trading loss of Rs 44 lakh in the previous year following increase in turnover from Rs 43.32 crore to Rs 50.04 crore. After necessary provisions, net profit came to Rs 118 lakh against a net loss of Rs 59 lakh. Equity dividend, skipped last year, has been recommended at 15 per cent and is covered 2.62 times by earnings.

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