Public Funds to the Rescue

Public Funds to the Rescue Hansavivek SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION (SPIC) has earned a gross profit of Rs 4.85 crates as against a trading loss of Rs 16.74 crores shown in the previous year, following increase in net sales from Rs 51.32 crores to Rs 59.44 crores. After depreciation, however, there is again a net loss of Rs 5.59 crores against the previous year's Rs 27.19 crores. The accumulated deficit carried to the balance sheet has mounted up to Rs 67.79 crores, to stand against the share capital of Rs 18.98 crores and reserves of Rs 15.65 crores. The year's improved outcome has followed in- in production of fertilisers from