Differential Tax Rates In Calcutta May Be Phased Out

Indian Shaving Products (ISPL), a subsidiary of US-based Gillette, yesterday reported a 43 per cent rise in net profits at Rs 4.69 crore in its second quarter ended June 30, 1999. The total sales of the company went up by Rs 20 per cent to Rs 58.04 crore during the second quarter over Rs 48.34 crore in the corresponding period last. year, ISPL said in a statement here. Indian Shaving said its domestic sales alone went up by 27 per cent while exports grew by a healthy 13 per cent. Profit before provision for tax and interest rose by 51 per cent at Rs 7.62 crore as against Rs 5.06 crore during last year, it said. ISPL has a paid-up share capital of Rs 12.87 crore.