ALF TO PAY 50% DESPITE FALL IN NET
Article Abstract:
In spite of a decrease in its net profit, Ashok Leyland Finance Ltd (ALF) plans to maintain its dividend for 1997-98 ended June 30, 1998, at 50 percent. It proposes to mobilise Rs100 crore during 1998-99 through the private placement of non-convertible debentures. (ag) ------------------------------------------------------------ Financial results of Ashok Leyland Finance Ltd ------------------------------------------------------------ Particulars Year ended June 30 (Rs in crore) 1998 1997 ------------------------------------------------------------ Operational income 300.29 263.90 ------------------------------------------------------------ Other income 12.73 9.99 ------------------------------------------------------------ Interest 203.11 176.07 ------------------------------------------------------------ Gross profit 86.56 73.33 ------------------------------------------------------------ Depreciation 40.28 38.80 ------------------------------------------------------------ Tax 18.00 3.72 ------------------------------------------------------------ Net profit 28.27 34.42 ------------------------------------------------------------ Disbursals 1,015.00 675.00 ------------------------------------------------------------ Equity 20.47 - ------------------------------------------------------------ Reserves 169.89 142.87 ------------------------------------------------------------ EPS (Rs) 13.81 16.82 ------------------------------------------------------------ Dividend (50%) 50.00 50.00 ------------------------------------------------------------
Comment:
Plans to maintain dividend for 1997-98 ended 6/30/98 at 50%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ESCORTS INCOME BOND FUND - BONDING FOR GROWTH
Article Abstract:
The Escorts Income Bond Fund, launched in September 1996 as a close-ended debt-oriented scheme, had an initial collection of Rs20.95 crore. The 5-year fund assured a return of 16 percent in the first year to small investors. But there was a marginal decline of Rs60 lakh in the unit capital of the scheme at Rs20.35 crore on June 30, 1998. But the fund has performed well till now, with a return of 19.08 percent since inception and 20.12 percent in 1997-98. The scheme earned a gross income of Rs5.13 crore in 1997-98 and a net income of Rs69.87 lakh. In the first quarter ended June 1998, its total income was Rs1.15 crore and the net profit Rs98.08 lakh. (gsh)
Comment:
Earns a gross income of Rs5.13 crore in 1997-98 and a net income of Rs69.87 lakh
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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