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

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geared up to meet the market challenge. The profitability of the company [during the year] has been affecled because of higher in- puts in the marketing of the products on account of rebates and incentives; otherwise the turnover would also have registered a decline" In the light of the foregoing, one is not quite sure whether the rise of 18 per cent in sales recorded in the first quarter of 1992-93 would be resulting in an improvement in pro- fitability of the company. The directors explain that the increase was due to "extensive market efforts" to beat stiff competition from other companies. The directors expect, nevertheless, that the measures taken by the company would bring in the desired results, barring unforeseen circumstances.

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