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Drumbeat: Ad Buzzaar
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Sunday, June 28, 1998
Escorts pays 45 pc dividend
ENS ECONOMIC BUREAU
MUMBAI, JUNE 27: Escorts Ltd has recorded a marginal increase in net profit to Rs 129.84 crore and a 15.7 per cent growth in sales to Rs 1275.58 crore for the year ended March 1998. Escorts sales stood at Rs 1,102.35 crore for the corresponding period the previous year.The board has recommended a dividend of 45 per cent. This is payable on an enhanced capital of Rs 68.07 crore (Rs 65.16 crore). The EPS is Rs 19.07 on the increased equity. It had posted a net profit of Rs 127.22 crore. The total income for the year is Rs 1412.26 crore, higher by 12 per cent over Rs 1259.64 crore during 1996-97. The previous year's total income included sales of Rs 397.85 crore for business divested. The total share-holder funds have gone up to Rs 879 crore which translates to an equity reserve ratio of almost 12 times. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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