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LML scrip zooms on dividend
PRESS TRUST OF INDIA
NEW DELHI, December 29: The LML Ltd scrip witnessed frenetic trading across the exchanges on Monday on the back of a maiden 15 per cent dividend announced by the company. LML Ltd registered a 17.7 per cent increase in net profit for the year ended September and announced a maiden dividend of 15 per cent, a company statement said here on Monday.LML's net profit LML stood at Rs 20.29 crore (Rs 17.31 crore). During the year LML wrote off Rs 21.94 crore as an extraordinary loss arising out of the non-recovery of the unsecured sales consideration from Esslon Synthetics Ltd. Shares of the company shot up to touch Rs 102 in intra-day trading, on the announcement of a 15 per cent dividend, before winding up at Rs 99.25 at the Bombay Stock Exchange. Turnover of the firm grew by 21 per cent to aggregate Rs 748.72 crore on a sale of 2,94,648 scooters compared to a turnover of Rs 618.91 crore and sale of 2,57,037 scooters last year, the statement said.
Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.
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