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Journalism of Courage
GSFC net profit drops 8.7
MUMBAI: Gujarat State Fertilizers amp; Chemicals GSFC has announced a 8.7 per cent drop in net profit during 1997-98, even as other income was higher by Rs 20 crore over the previous fiscal. Net profit declined to Rs 169.95 crore, from Rs 186.15 crore in the previous fiscal. The company8217;s sales turnover, however, increased to Rs 1,999.31 crore from Rs 1,893.07 crore in 1996-97. GSFC has maintained its dividend payout at Rs 4.50 per share. Other income shot up from Rs 48.68 crore to Rs 68.68 crore during the period. Profit before tax stood at Rs 188.72 crore, against Rs 216.97 crore in the previous year. The company8217;s EPS declined to Rs 21.30 Rs 26.70.
IOC profit up
MUMBAI: Indian Oil Corporation Ltd IOC, a Fortune 500 company, has reported a 21 per cent jump in net profit to Rs 1,706 crore against Rs 1,408 crore in 1996-97. During 1997-98, sales turnover recorded a 6.8 jump to Rs 59,176 crore from Rs 55,.388 crore last year. It declared a higher dividend ofRs 5 per share against Rs 4 paid last. This year8217;s dividend outgo will be Rs 194.67 crore. The EPS has improved to Rs 43.83 from Rs 36.17. The refineries of IOC 8211; at Guwahati, Barauni, Gujarat, Haldia, Mathura and Digboi 8211; collectively achieved 100 capacity utilisation.
