EPW Research Foundation PHILIPS INDIA Strategy for Growth PHILIPS INDIA'S (PIL) performance in the financial year ended December 4995 was marked by a 48 per cent fall in net profits in spite of a 33 per cent increase in turnover. Interest cost moved up by 74 per cent from Rs 16 crore to Rs 28 crore. A 20 per cent increase in provision for depreciation was more than nullified by a 58 per cent decline in tax provision.