Gabriel India Net Down 55% To Rs 6.83 Crore

The net profit of Gabriel India Ltd has recorded a steep fall of 51 per cent to Rs 6.83 crore during 1997-98 as against Rs 13.94 crore clocked during the previous year. Total sales during the year stood at Rs 205 crore, 0.5 per cent below the previous years Rs 207 crore, and over five per cent below the projected turnover of Rs 217 crore. Net interest outgo during the year was Rs 19.36 crore, down from Rs 14.92 crore in the previous year. Gross profit stood at Rs 15.28 crore, a 22 per cent drop from the previous years Rs 20.78 crore. The projected gross profit for the year was Rs 21.57 crore. Exports increased by 38 per cent over the previous year. The board of directors have recommended a dividend of 25 per cent for the year.