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

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Cutting Losses

Cutting Losses Hansavivek METAL BOX INDIA has shown the most adverse results in its career of half a century. This was caused mainly by large losses of bearings unit and industrial unrest at all units particularly prolonged strike in establish ments in West Bengal from July 18,1983. An agreement was concluded with unions and operations were resumed at Kharagpur on September 26, 1983 and at Calcutta units on February 9 last. Company has shown a trading loss of Rs 6.27 crore for the year ended September 1983 as against a gross profit of Rs 84 lakh earned in 1981-82 following decline in turnover from Rs 123,73 crore to Rs 112,50 crore. After depreciation, there is a higher net loss of Rs 9.77 crore compared to Rs 2.18 crore of previous year.

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