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

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Textile Exports-On a Slippery Slope

Textile Exports-On a Slippery Slope

February 13, 1971 value of contracts executed declined crores in 1969. Operating profit declined crores in 1969. Operating profit declined from Rs 158 lakhs in 1965 to Rs 13 lakhs in 1967. Apart from the substantial reduction in the value of contracts, the decline in the operating profit was attributable to higher cost of materials, higher wages and larger provision for depreciation. In 1968 and 1969, the company incurred operating losses of Rs 54 lakhs and Rs 124 lakhs, respectively. As on December 31, 1969 the company had accummulated losses of Rs 102 lakhs. Over the last five years the company's reserves declined from Rs 201 lakhs in 1965 to

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