New Delhi, June 16: Tractor manufacturer Escorts Ltd has registered 33 per cent jump in net profit at Rs 112.35 crore on an increased sales turnover of Rs 1295.75 crore for the year ended March 31, 2000. Escorts sales turnover in 1998-99 stood at Rs 1105.60 crore. The company's profit before tax (PBT) for the year ended March 31, 2000 stood at Rs 142.35 crore as against Rs 110.17 crore. The board decided that the recommended payment of interim dividend of Rs 4.50 per share announced for 1999-2000 would be the final dividend for the year.During the year, Escorts registered a total income of Rs 1391.27 crore, which includes an operational other come of Rs 22.54 crore and a non-recurring component of Rs 72.98 crore. The company's interest costs came down from Rs 58.10 crore in the previous year to Rs 52.54 crore this year.
The gross profit after interest but before depreciation and tax increased to Rs 177.73 crore from Rs 141.46 crore in the previous year, a jump of 26 per cent. The company recorded a profit before interest, depreciation and tax of Rs 230.27 crore as against Rs 199.56 crore in the previous year.
The earnings per share went up from Rs 11.65 in 1998-99 to Rs 15.55 this year. During the year, the group continued the restructuring process by divesting 24 per cent stake in its joint venture with Yamaha Motor Co of Japan in Escorts Yamaha Motor Ltd. It will also concentrate on its four core areas namely agri-business, telecom, software and healthcare.
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