NTC Aims 20Pc Increase In Operational Income

Coimbatore: The sick public sector monolith National Textile Corporation (NTC), now on its organisational and financial restructure, expects to increase its operational income by 20 per cent to Rs 716 crore during 2007-08 as compared to previous year''s earnings of Rs 600 crore. The Corporation has managed to bring down its cash losses to as low as Rs 90 crore for the just ended fiscal 2006-07, from a cash loss of Rs 454 crore it incurred during 2002-03 when NTC started its restructure programme. The NTC for which this year, being the terminal year for completing its restructuring exercise, is going to be crucial has in fact forayed into an MoU with the Ministry of Textiles, giving out all physical indicators of its modernization-cum-restructuring proposals and targets including its anticipated turnovers, productivity and workload contributions.