LLOYD STEEL-High Value Contracts

profits has been very impressive. Profits before tax and after tax rose by 88 per cent and 59 per cent, respectively, despite increase in cost of inputs as well as hike in labour costs. Profits would have been higher but for the delay in the realisation of payments from state electricity boards resulting in avoidable interest burden. The company earned foreign exchange to the tune of Rs 14,68 crore while it used Rs 26.37 crore for import of raw materials, etc. According to the company, the order backlog at the end of December 1990 stood at a lower level of Rs 230.6 crore compared to the 1989-end figure of Rs 280 crore. Reportedly, there was an improvement in the situation in the first three months of 1991.