CJ Gelatine profit rises

ENS ECONOMIC BUREAU

MUMBAI, NOV 1: C J GELATINE Products Ltd has come out with a good performance in the first half of the current year. The sales turnover has improved by about 30 per cent to Rs 5.50 crore and the profit by about 12 times to Rs 80.23 lakh from Rs 6.49 lakh in the first half of the last year. ``We will end the year with sales of over Rs 10 crore,'' said S P Sahni, chairman. According to Sahni, from 1992-93 onwards, the company had started making profits. Within two years of the announcement of the BIFR package, it had ceased to be a sick company and the net worth became positive. The company is one of the two companies which has been restored to the present state of good health after being declared sick by the BIFR.

During 1997-98 itself, the company had wiped off all its losses and it had made surplus of Rs 63 lakh as on March 1998. During 1998-99, the economic environment remained turbulent with depressed domestic market and lower production, shortfall in sales and profit of the main product. In spite ofsuch a recessionary trend, the company has been able to earn profit though comparatively lower than the last year. ``We're hopeful of paying a higher dividend this year,'' Sahni said.

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