Hampered by Price Control

Hampered by Price Control Hansavivek BALLARPUR INDUSTRIES (BILT) has suffered a setback during 1983-84 with a drop in gross profit from the previous year's Rs 19.01 crore to Rs 15.72 crore, even though turnover increased from Rs 197.27 crore to Rs 212,68 crore. There is saving in taxation but with depreciation claiming more, net profit is halved to Rs 4.02 crore (Rs 8.09 crore). Dividend is maintained at 22 per cent, but is covered only 1.24 times by earnings. Recession in the chlor-alkali industry and loss of production due to power-cuts have resulted in reduced profits. The sixth and seventh paper machines at the Yamunanagar unit of the paper division were commissioned, but sustained production could not be established on these machines.