TSL announces 50 dividend

CHENNAI, June 24: TVS-Suzuki Ltd TSL has managed to significantly improve its performance for the year ended March 1998. The board of directors have recommended a higher dividend of 50 per cent compared to last year8217;s 35 per cent.

The turnover during the year was Rs 1018.62 crore Rs 829 crore in the previous year. After providing for a depreciation of Rs 23.90 crore and tax for Rs 32.48 crore, the company has declared a net profit of Rs 68.76 crore as against Rs 54.36 crore made last year. The sales of vehicles in 1997-98 quantitatively increased by 12.27 per cent while in value terms it was higher at around 23 per cent.