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

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Hit by Imports

Hit by Imports Hansavivek J K SYNTHETICS has again turned out poor working results. Turnover for 15 months ended March 1984 has amounted to Rs 177.83 crore against Rs 171.83 crore in previous 12 months and gross profit is Rs 16.47 crore against Rs 13.48 crore. After depreciation, net profit is barely Rs 3 lakh compared to previous year's Rs 34 lakh. Dividend is maintained at 10 per cent on substantially enlarged capital and will be disbursed from past reserves. After taking into account write-backs from previous provisions for depreciation (Rs 288.59 lakh against nil), excess provision for taxation (Rs 400 lakh against nil), general development reserve (Rs 174.47 lakh against Rs 95.29 lakh), general reserve (nil against Rs 46.60 lakh) and investment allowance utilisation reserve (Rs 70 lakh against nil), a sum of Rs 626.23 lakh (nil) has been set aside for investment allowance reserve and Rs 285.70 lakh (Rs 176.11 lakh) for payment of recommended dividends on preference and equity shares. Surplus of Rs 24.25 lakh has been transferred to general reserve, which could The Week's Companies not get any amount last year.

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