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 year’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.