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

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ITC-Ambitious Export Target

of the company has improved despite the recession in the auto industry. While total unit sales volume fell by 5 per cent, net sales crossed the Rs 1,000 crore mark to touch Rs 1,007 crore (Rs 979 crore). Total manufacturing expenses increased from Rs 665 crore to Rs 709 crore. Rise in operating expenses led to a 4.7 per cent fall in the operating profit from Rs 195 crore to Rs 186 crore. The 20.5 per cent fall in interest charges which resulted from a sharp decline in short-term borrowings has led to a 7.6 per cent higher gross profit. The company has depreciated 61.5 per cent of its gross block and any increase in production activity is bound to be very beneficial. A lower depreciation charge at Rs 82 crore (Rs 85 crore) has led to a 19.2 per cent rise in profit before tax. Tax provision is higher by 18.7 per cent at Rs 45 crore (Rs 38 crore). There was an increase of 19.6 per cent in net profit which stood at Rs 52 crore (Rs 43 crore).

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