Digital Equipment to pay 240

BANGALORE, AUGUST 31: Digital Equipment India Ltd has recorded a 98.5 per cent surge in net profit during the year ended June 26, 1999, to touch Rs 54.33 crore as against Rs 27.38 crore a year ago.

The company provided for Rs 13.25 crore as tax. The company has restructured its businesses and has sold its domestic computer products and services business to Compaq Computer India Private Ltd for a consideration of Rs 83.99 crore and a non-compete fee of Rs 5 crore. The actual business transfer date was June 26, 1999. The proceeds of the transaction are still being received. Subsequent to the transaction, Digital India is now a focus software and services exports company.