ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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VOLTAS-Food Value

LAB on Stream RELIANCE INDUSTRIES has shown good results for the 18-month period ended June 1988. The directors have proposed payment of a Final dividend of 25 per cent on the enlarged capital. With the interim distribution of 30 per cent already made, the total payment worked out to 55 per cent against 25 per cent paid for the preceding 12 months. The company has earned a gross profit of Rs 172.18 crore against Rs 75.15 crore previously following a turnover of Rs 1,216 crore against Rs 638 crore. These figures also show increased profit margins. Although the provision for depreciation has taken away more and there is also a tax liability of Rs 2 crore against nil, net profit is considerably higher at Rs 78.77 crore compared to Rs 14.17 crore. The substantially enhanced distribution is covered 1.37 times by earnings as against 4.66 times previously. The accounting year had to be extended on account of delay in commissioning of the PTA and LAB projects. The management wanted to synchronise the commissioning of these projects with the accounting year.

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