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Drumbeat: Ad Buzzaar
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Friday, June 26, 1998
Nicco Uco net up to Rs 2 crore
OUR CORPORATE BUREAU
CALCUTTA, June 25: Nicco Uco Financial Services Ltd, a subsidiary of Nicco Corporation Ltd, has registerted a 30 per cent growth in its net profit during 1997-98. The non-banking finance company has proposed a 7.5 per cent dividend.The NBFC's net profit went up from Rs 1.88 crore in 1996-97 to Rs 2.45 crore in 1997-98, a press release said. The company has also registered a higher business volume of Rs 52.50 crore, resulting from a 26 per cent growth in the lease and hire purchase segment. "The company recorded a 38 per cent rise in the income fee-based operations, which increased from Rs 70 lakh to Rs 96 lakh in 1997-98. The dividend interest and other income improved by 11 per cent to Rs 3.16 crore in 1997-98, compared with Rs 2.83 crore in 1996-97," the release stated. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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