BOMBAY DYEING-Tale of Woe

LARSEN & TOUBRO On the Upswing ENGINEERING and turnkey construction major, Larsen ; & Toubro (L&T) posted a 30.6 per cent rise in net sales in 1995-96 with a similar rise in operating profit (up 30.4 per cent). Higher recourse to term loans, which increased by 73 per cent during the year, led to a 434 per cent rise in interest charges. However, a 17.7 per cent fall in tax provision over the previous year helped the company post a 40 per cent increase in net profit.