TVS-SUZUKI BUCKS TREND, SALES CROSS Rs1,000 CR
Article Abstract:
TVS-Suzuki Ltd (TSL), a leading two-wheeler manufacturer, has posted a 26 percent rise in its net profit to Rs68.76 crore in 1997-98 (Rs54.36 crore in 1996-97). Its net sales has crossed the RS1,000 crore mark to Rs1,018.62 crore (Rs829.93 crore). The company has recommended a dividend of 50 percent on a paid-up capital of Rs23.1 crore for 1997-98 (35 percent). Its earnings per share was at Rs29.77 (Rs23.53). The company has managed to post a good performance for 1997-98 despite the general recession in the automobile sector. TSL has also managed to improve its market share from 17.3 percent in 1996-97 to 18.9 percent now. (gs)
Comment:
Posts 26% rise in net profit to Rs68.76 crore in 1997-98, as against Rs54.36 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HONDA TO SELL OFF KINETIC JV STAKE
Article Abstract:
Honda Motor Company (HMC) of Japan has decided to sell its 50.92 percent stake in Kinetic Honda Motor Ltd (KHML), its joint venture with Kinetic Engineering Ltd (KEL). HMC has decided to sell its entire holding of 7,660,000 shares to KEL at Rs45 per share, which comes to Rs34.47 crore. HMC will continue to give technical support to KHML for manufacturing, marketing and servicing its current scooter models. Sources say that HMC was not happy with the performance of KHML, whose sales of scooters fell by 29 percent to 25,581 units in April-July 1998 against 35,890 units in April-July 1997. (khr)
Comment:
Decides to sell its 50.92% stake in Kinetic Honda Motor to Kinetic Engineering for Rs34.47 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HERO HONDA TO CUT PRICES IN OVERSEAS MARKET
Article Abstract:
Hero Honda, plans to reduce the prices of its motorcycles in international markets due to slump in exports. Its exports dropped by 33 percent to 4,371 vehicles during April to September 1998 (6,686 in April to September 1997). The fall is attributed to the devaluation of the yen and reduction of prices by competitors. (nr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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