South Madras Electric

FACT Turns Corner FERTILISERS and Chemicals has turned the corner. Shaking off a four-year-long spell of losses, FACT has earned a net profit of Rs 43 lakhs for the year to March 1967 against a loss of Rs 70 lakhs, after providing more than Rs one crore (Rs 61 lakhs) for depreciation. From 1959, when management was taken over from Sesha- saycc. to 1961. FACT declared a dividend of six per cent each year. Since 1962, it has incurred losses (except for a small profit in 1963- 64), in spite of increasing production capacity.