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Drumbeat: Ad Buzzaar
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Wednesday, June 10, 1998
Eicher net profit falls 6.6%
ENS ECONOMIC BUREAU
NEW DELHI, June 9: Eicher group flagship Eicher Ltd on Tuesday announced a 6.6 per cent fall in net profit to Rs 26.21 crore on a higher turnover of Rs 590 crore but has maintained the dividend at Rs 3 per share during the year ended March 1998.Though turnover grew 5.7 per cent to Rs 590 crore from Rs 558 crore in 1996-97, company officials attributed the decline in net profit to higher interest charges (up to Rs 5.18 crore from Rs 3.33 crore in 1996-97) and depreciation (up to Rs 10 crore from Rs 8.80 crore). The earnings per share (EPS) stood at Rs 12 against Rs 12.94 in the previous year. Net worth is placed at Rs 168 crore. The tractor division contributed Rs 431 crore while Royal Enfield Motors chipped in with Rs 101 crore and the gear business unit Eicher-Demm Rs 107 crore in the total turnover. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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