TITAN PAT DOWN 39.5%, DIVIDEND TRIMMED TO 25%
Article Abstract:
Titan Industries Ltd has recorded a 39.55 percent drop in its net profit though turnover rose by eight percent in 1997-98. Jewellery sales of the company went up to Rs60 crore after the launch of 22 karat gold jewellery in June 1997. The inventories came down to around Rs52 crore, including Rs31 crore in finished goods. (gsh) --------------------------------------------------------- Financial Results: Titan Industries Limited (Rs in crore) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Turnover 445.22 411.33 --------------------------------------------------------- Operating Profit 16.24 17.67 --------------------------------------------------------- Interest 52.95 56.39 --------------------------------------------------------- Taxation 1.60 3.58 --------------------------------------------------------- Net Profit 14.63 24.21 --------------------------------------------------------- Dividend (%) 25.00 33.00 ---------------------------------------------------------
Comment:
Records 39.55% drop in net profit though turnover increases by 8% in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ANOTHER TITAN LOSES CAP IN MARKET
Article Abstract:
The scrip price of Century Textiles and Industries fell to a 10- year low of Rs29.40 at the Bombay Stock Exchange on September 1, 1998. The flagship of the BK Birla group has seen its market capitalisation eroded by about 93 percent to Rs274 crore from Rs4515 crore in the past four years. The company's five major businesses of textiles and yarn, cement, shipping, tyres, pulp and paper have been adversely affected by the recession in core sectors. It showed a net loss of Rs87 crore in 1997-98 despite posting a turnover of Rs2208 crore. (khr)
Comment:
Shows a net loss of Rs87 crore in 1997-98 despite posting a turnover of Rs2,208 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GOVERNMENT GIVES GEMS, AND JEWELLERY EXPORTS A FILLIP
Article Abstract:
The Government of India has extended the duty drawback facility to gems and jewellery exports to give a boost to the sector. Following this, exporters of these items will be able to offset the effect of the five percent duty paid by the channeling agencies for importing gold under open general licence on their behalf. Zero duty import of gold will be permitted for value addition. The drawback facility is being extended following demand from the Gems and Jewellery Council. Export of gems and jewellery increased to $7 billion during April-November 1998. (uh)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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