INDIAN ORGANIC CHEMICALS (IOC) has suffered a sharp setback in its performance during 1987-88. The year's working has resulted in a trading loss of Rs 1.62 crore against a gross profit of Rs 10.60 crore in the previous year. Sales are down from Rs 96.26 crore to Rs 92.12 crore. After depreciation, there is a net loss of Rs 11.11 crore against a net profit of Rs 5.37 crore previously. These results, which are perhaps the most Unsatisfactory in the company's 28-year career, have arisen because of very high interest and depreciation burden in respect of new projects and the slackening demand in its major business area.