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Tata Power net soars 128%

Mumbai, May 28: Tata Power Company has posted a 128 per cent rise in net profit at Rs 155.27 crore for the quarter ended March 31, 2003, compared with Rs 67.86 crore in the corresponding previous quarter. The company has recorded a higher income at Rs 943.28 crore in the reporting quarter against Rs 905.69 crore in the previous corresponding period.

For the year ended March 31, 2003, the company has posted a net profit of Rs 519.92 crore, a rise of 2 per cent over Rs 508.23 crore in 2001-02. Total income has increased from Rs 4,067.71 crore in 2001-02 to Rs 4452.53 crore in 2002-03.

On a consolidated basis, the group has posted a net profit of Rs 324.78 crore in 2002-03, down 33 per cent, compared with Rs 487.42 crore in 2001-02.

However, its total income increased to Rs 4,953.31 crore from Rs 4,120.85 crore in 2001-02.

The board has recommended a divided of 65 per cent for the year under review. At its meeting today, the board also decided to delist equity shares of the company from Ahmedabad, Pune and Delhi exchanges.

Colgate pays second interim

Colgate Palmolive India Ltd has announced a second interim dividend of 20 per cent or Rs 2 per share for the financial year ended March 31, 2003.

The company added that the interim dividend would require a total payout of Rs 30.6 crore (inclusive of dividend tax) and it will be paid on or about June 25. On December 13, 2002, the company had paid a first interim dividend of 22.5 per cent for the financial year 2002-03. With the second interim dividend declared today, the total dividend for the year is at 42.5 per cent, Rs 4.25 per share.

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