ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
-A A +A

LIC-Exceptional Performance

programme, in addition to the ships already acquired by the company, it has placed orders for building a total of 12 mini bulk carriers of about 2,200 DWT each to be employed with the sponge iron plant of Essar Gujarat. The company is considering to acquire modern vessels such as Afframax Tankers, LPG carriers, product tankers and bulk carriers. In addition, the company is also exploring the possibilities for diversifying into manufacturing activities and sub-sea and offshore projects, EID PARRY Reduced Profitability EID PARRY (INDIA) increased its net sales nominally by 5 per cent on annualis- ed basis to Rs 155.45 crore during the nine-month period ended March 31, 1990. Among the costs of production, raw material cost spurted by 38 per cent, employees cost by 6 per cent and depreciation by 7 per cent. Apart from sales income, the company earned Rs 25.73 crore by way of other income. Of this, Rs 20.55 crore were subsidy received by the company on phosphatic fertilisers. The operating profits at Rs 13.24 crore showed a 10 per cent growth on annualised basis during the year. As the company was obliged to provide for a higher amount for taxation, the net profits earned during the nine-month period declined by 28 per cent on annualised basis. There was a spurt in the expenses to sales ratio from 1,07:1 in 1988-89 to 1.08:1 in the latest year.

Subscribers please login to access full text of the article.

New 3 Month Subscription
to Digital Archives at

826for India

$50for overseas users

Get instant access to the complete EPW archives

Subscribe now

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top