Walking on Two Legs

Walking on Two Legs Hansavivek ITC has turned in good results for 15 months ended June 1983. Overall turnover for the period is Rs 759 crore compared to Rs 578 crore last year, representing a growth of 5.1 per cent on an annualised basis. Net sales realisations have crossed Rs 200 crore mark in 12 months for the first time with all round growth in company's main products and services, of which traditional cigarette business constitutes a 60 per cent share for the second year running. Gross profit has increased from Rs 21.49 crore to Rs 26.97 crore following net turnover of Rs 266 crore against preceding 12 months Rs 178 crore. Profit figure has been arrived at after setting aside on estimate, Rs 15.70 crore as 'extraordinary excise item'. A dispute exists between the company and excise authorities and the company's excise liability cannot be correctly determined at this stage. Net profit is Rs 8.77 crore (Rs 7.77 crore).