MBT net profit up 53 per cent at Rs 96.66 crore

Mumbai, May 16: MAHINDRA-British Telecom Ltd (MBT) has reported a 53 per cent rise in net profit at Rs 96.66 crore for the financial year ended March 31, 2001, compared to Rs 63.03 crore in the previous fiscal.

The board has recommended a 20 per cent dividend (Rs 1.94) for each share of Rs two, MBT said in a release here on Wednesday.

Income registered a growth of 63 per cent in the year under review at Rs 391.32 crore as against Rs 240.32 crore in 1999-2000, it said.

MBT chairman Anand Mahindra said the slowdown in the US had not adversely affected the company because of the strategic decisions taken last year.

In 2000-01, equity shares of nominal value of Rs 10 each were sub-divided into five equity shares of Rs two each. (PTI)