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

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WARTSILA DIESEL-Hit by Recession

been promoted by Oy Wartsila Abof Finland (in equity participation with Finnish Fund for Industrial Development Corporation). Shapoorji Pallonji and Company and Banaras House and is engaged in the manufacture of high power dieset generating sets (DG sets)/ engines in the range of 500 KW to 7,500 KW. With industrial recession continuing through most of 1992-93, process industries such as cement, fertilisers and chemicals were the worst affected. With these industries accounting for up to 72 per cent of Wartsila Diesel's installed base of captive power, the company's performance suffered in 1992-93. While net sales fell by 8.0 per cent over the previous year, operating profit fell drastically by 23.9 per cent and with a 14,6 per cent rise in interest charges coupled with a 25 per cent rise in depreciation provision, net profit fell by 37,4 per cent, Despite the fall in net profit the company has raised its dividend rate from 10 per cent last year to 15 per cent.

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