NEW DELHI (PTI): The net profits Of TATA Engineering and Locomotive Company Limited (TELCO) have suffered a sharp fall for the year ending March 93. The net profits declined by about Rs 1000 million from Rs 1318.4 million last year to only 3004 million this year.
AS a result of this decrease the dividend of the company has been decreased to 30% as against last year’s dividend of 40%.
A company press note observes that the current upward trend continues the company should show a better performance during the year 199394.
The stock markets have also reacted positively to this assessment and the share value has shown a rise to Rs 202 from the earlier close of Rs 190.
Article extracted from this publication >> June 18, 1993
