ALL NET SLUMPS 85% SALES TOO NOSE DIVE
Article Abstract:
Ashok Leyland Limited (ALL) registered a steep decline in profit after tax to Rs18.4 crore in 1997-98 (Rs124.93 crore in 1996-97). ALL's sales also fell by 18.9 percent to Rs2,020.62 crore (Rs2,490.14 crore). The decline is due to the recession in the commercial vehicle segment which is more evident in the heavy duty vehicles segment. The board of directors have cut down dividend to 10 percent (50 percent). (uh) ------------------------------------------------------------ Ashok Leyland Limited: Financial Results (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Net Sales 2020.62 2490.14 ------------------------------------------------------------ Operating Profit 148.81 232.80 ------------------------------------------------------------ Profit After Tax 18.40 124.93 ------------------------------------------------------------ Earnings Per Share (in Rs) 1.55 10.50 ------------------------------------------------------------ Depreciation 70.55 65.59 ------------------------------------------------------------ Dividend (in %) 10 50 ------------------------------------------------------------
Comment:
Registers a steep decline in profit after tax to Rs18.4 crore in 1997-98 vs profit after tax of Rs124.93 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TELCO TO FORM ANOTHER JOINT VENTURE WITH CUMMINS
Article Abstract:
Tata Engineering and Locomotive Company (Telco) and Cummins of USA plan to set up a joint venture company in India for servicing the diesel engines of the latter after sales. Both the companies plan to invest equally in the joint venture. The joint venture company will be operational in 12 months. Cummins has projected an investment of $5 million in the joint venture company. It plans to develop engines for small cars. It is to supply engines to all the commercial vehicles of Tata Engineering and Locomotive Company. (rk) (kvr)
Comment:
Tata Engineering and Locomotive Company (Telco) and Cummins of USA plan to set up a joint venture company in India for servicing the diesel engines of the latter after sales.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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