OCL INDIA-Customised Cement

Group Restructuring JINDAL IRON AND STEEL (JISL) saw a mixed performance in 1997-98, While the company's net sales and operating profit were higher by 334 per cent and 28.7 per cent, respectively, over the previous year, a sharp rise in interest (up '42.5 per cent) and depreciation provision (up 62.5 per cent) saw its bottom- line declined by 35.1 per cent over the same period. The lower price realisations in hot rolled plates and galvanised products only added to the company's woes. The rise in interest charges was primarily due to the borrowings for the company's expansion projects which were commissioned during the year under review.