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Journalism of Courage
Colour-Chem pays 65 pc
MUMBAI: Colour-Chem Ltd, a group company of Clariant, Switzerland, has reported a 35 per cent rise in operating profit profit before exceptional items and tax for the year ended March 1999. The directors have recommended a dividend of 65 per cent compared with a dividend of 52 per cent in 1997-98. Total income from operations amounted to Rs 296.32 crore against Rs 336.30 crore last year included sales of Rs 31.07 crore relating to the textiles dyes business and Rs 14.50 crore towards compensation. It has earned a gross profit of Rs 40.98 crore against Rs 32.08 crore last year.
Mirc Electronics raises dividend
MUMBAI: Mirc Electronics has posted excellent performance for the year ended March 1999. The board of directors of the company has raised the dividend to 65 per cent against 60 per cent paid for 1997-98. The company has achieved a turnover of Rs 688.58 crore compared with Rs 522.57 crore. The gross profit has jumped to Rs 37.88 crore Rs 27.62 crore. Thenet profit has risen sharply to Rs 27.02 crore Rs 20.42 crore.
Tata Telecom slips into red
MUMBAI: Tata Telecom has posted a net loss of Rs 19.65 crore for the year ended March 1999 compared to Rs 1.36 crore last year. The sales turnover too dipped to Rs 175.45 crore compared to Rs 176.58 crore last year. The losses have been incurred owing to poor market conditions and write off of Rs 9.51 crore of doubtful debts and Rs 5.90 crore due to material obsolescence based on technical evaluation and phasing out of certain product lines. quot;These provisions were made in the background of poor market conditions and phasing out of some product lines,quot; a company statement said.
