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

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USHA MARTIN-Upgrading Technology

USHA MARTIN-Upgrading Technology

INDIAN ORGANIC CHEMICALS (IOC) has suffered a sharp setback in its performance during 1987-88. The year's working has resulted in a trading loss of Rs 1.62 crore against a gross profit of Rs 10.60 crore in the previous year. Sales are down from Rs 96.26 crore to Rs 92.12 crore. After depreciation, there is a net loss of Rs 11.11 crore against a net profit of Rs 5.37 crore previously. These results, which are perhaps the most Unsatisfactory in the company's 28-year career, have arisen because of very high interest and depreciation burden in respect of new projects and the slackening demand in its major business area.

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