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GLAXO INDIA-Strategic Rethinking

development department. Morarjec Goculdas Spinning and Weaving Company, flagship of Piramal Enterprises, has registered a 13 per cent increase in net sales, its operating profit has gone up by 22 per cent and net profit by 91 per cent A marginal increase in interest burden, a full in the depreciation provision, nil taxation and an increase in the non-operating profit by 45 pet cent all contributed to an increase in net profit, It would have been higher still but for a decline in the oilier income by 23 per cent. The company saw an increase of exports by 30 per cent for the year under review while imports were up by 39 percent. The company has declared a dividend of 30 per cent for the year against 20 per cent in the previous year.

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