Chandigarh, Feb 1: The Chandigrh-based Punjab Tractors Ltd on Monday reported Rs 104.5 crore profit after tax for the first nine months of fiscal 1999-2000 against Rs 89.7 crore in the corresponding period of previous year. The company announced a third interim dividend of 65 per cent, taking cumulative dividend for the first three quarters to 195 per cent against financial year 1999's full year dividend of 250 per cent.Commenting on company performance, the vice-chairman and managing director Yash Mahajan said the improved performance "had something to do with the way the company focussed on a customer-oriented business strategy. It is this approach that drives the improvement processes of core business."
For nine-month period ended December, 1999, the PTL has shown improvement in both tractor sale volumes and market share. Volumes have registered a growth of 10.6 per cent reaching 38,370 tractors, with market share rising to 18.8 per cent.
The company is also moving aggressively towards establishing a presence in the United States market. Initial pilot batch of 3 models incorporating several new features required for the US market has already been shipped.
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