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Journalism of Courage
Lakme pays 600 pc
MUMBAI: The directors of Lakme have declared an interim dividend of 600 per cent Rs 60 per share for the 15-month financial period ended June 1998, payable to the shareholders of the company whose name appear on the register of members on June 30, the record date.
The high dividend payout follows the sale of plant and brands to Hindustan Lever Ltd. Lakme had assured this dividend earlier if shareholders approve the sale of plant to HLL.
Torrent Pharma
MUMBAI: Torrent Pharmaceuticals has recorded a 13.8 per cent growth in sales while gross profit grew at 25 per cent for the year ended March 1998. Sales grew from Rs 317.94 crore to Rs 361.79 crore, while net profit for the year increased by 19.6 per cent from Rs 33.20 crore to Rs 39.72 crore. The directors have recommended a dividend of 50 per cent.
Leelaventure
MUMBAI: The directors of Hotel Leelaventure Ltd have cut the dividend by 5 per cent to 35 per cent for the year ended March 1998. This follows dropin net profit of the company to Rs 42.59 crore from Rs 45.15 crore last year. The total income has also declined to Rs 117.33 crore from Rs 134.78 crore and gross profit to Rs 55 crore from Rs 61.78 crore last year.
Madras Cements
MUMBAI: The net profit of Madras Cements has dropped to Rs 33.10 crore during the year ended March 1998 from Rs 77.74 crore last year. The directors have recommended a dividend of 55 per cent. Net sales amounted to Rs 475.28 crore Rs 404.07 crore but gross profit dropped to Rs 78.96 crore from Rs 108.74 crore.
Apollo Tyres
NEW DELHI: Apollo Tyres has reported a higher net profit of Rs 40.7 crore on a lower turnover of Rs 1,365.2 crore Rs 36.3 crore for the year ended March 1998. Apollo8217;s total sales in the previous fiscal stood at Rs 1,413.7 crore. The board has decided to maintain the dividend pay out at 40 per cent. The decline in turnover is due to downward revision of excise duties, says a company release.
