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

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FARMERS CONVENTION-Government May Propose, But...

3 mn tonnes. But even with production in excess capacity, the profit was a rigged up one. More than Rs 40 crores each were provided for depreciation in the years preceding and following, but in 1904-65 the depreciation provision was only about Rs 20 crores. In 1965-66 with production at 3.437 mn tonnes, the profit came down to Rs 1.7 crores. Though depreciation was fully accounted for in the year, there was no increase in payment of interest. The highest surplus before depreciation earned by HSL was about Rs 88 crores in 1970-71. The gross margin came down to Rs 47 crores in 1971-72 and th losses reached a record of Rs 45 crores. The 1972-73 losses are placed around Rs 25 crores.

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