The Hindu : Tata Tea maintains dividend

Online edition of India's National Newspaper
Thursday, Jun 26, 2003

Business

Business

Tata Tea maintains dividend

CHENNAI JUNE 25. Tata Tea will be maintaining the equity dividend at 70 per cent for the year ended March 31, 2003.

The company has posted a net profit of Rs. 3.50 crores for the quarter ended March 31, 2003 against a net loss of Rs. 16.33 crores in the same period in the previous year. Total income has risen to Rs. 222.85 crores from Rs. 206.77 crores.

In the year ended March 31, 2003 the net profit was Rs. 70.60 crores against Rs. 71.96 crores while the total income stood at Rs. 811.99 crores against Rs. 812.53 crores. The company attributed the drop in net profit to higher provision for taxation on account of taxation on the maiden dividend of Rs. 25.3 crores received from its overseas subsidiary, Tata Tea GB, the owners of the Tetley Group of companies.

The group has posted a net profit of Rs. 97.82 crores for the year ended March 31, 2003 against Rs. 98.67 crores. Total income was Rs. 3,387.48 crores against Rs. 3,071.33 crores in the previous financial year.

Apollo Hospitals

Apollo Hospitals Enterprise has increased the equity dividend to 30 per cent for the year ended March 31, 2003 from 25 per cent in the previous year. The company has posted a net profit of Rs. 7.20 crores for the quarter ended March 31, 2003 as compared to Rs. 5.90 crores in the same period last year. Total income has risen to Rs. 117.20 crores from Rs. 105 crores.

In the year ended March 31, 2003 the net profit was Rs. 27.50 crores (Rs.24.70 crores) and total income Rs. 448.50 crores (Rs.376.80 crores).

TVS Autolec

TVS Autolec has reported total sales of Rs. 107.52 crores in the year ended March 31, 2003 against Rs. 86.58 crores in the previous year. The gross profit before depreciation and interest charges was sharply higher at Rs. 10.96 crores against Rs. 4.67 crores. Interest charges claimed Rs. 1.87 crores (Rs. 2.36 crores) and deprecation Rs. 5.74 crores (Rs. 2.31 crores). After making provision of Rs. 2.40 crores (including deferred tax), the net profit was Rs. 1.25 crores against Rs. 18.47 lakhs. The net profit of Rs. 18.47 lakhs last year was due to the credit of a similar amount under deferred taxation in that year. The directors have recommended a dividend of 10 per cent (Re. 1 per share).

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