Hm Net Profit At Rs 39.35 Crore, Declares 10% Payout

Hindustan Motors has been able to maintain its net profit at Rs 39.35 crore during the 1997-98 fiscal and declare a dividend of 10 per cent despite recessionary trends in the auto market. Net profit grew marginally by 0.07 per cent over Rs 39.32 crore in the previous fiscal, while profit before tax during the year under review grew by 8.66 per cent to Rs 48.30 crore as against Rs 44.45 crore in 1996-97. Gross profit after interest but before depreciation and taxation stood at Rs 73.26 crore, indicating a growth of 6.49 per cent over Rs 68.79 crore in the previous year. While total income grew by 5.68 per cent to Rs 1012.49 crore in 1997-98, gross sales stood at Rs 1298.73 crore as against Rs 1253.34 crore in the previous fiscal.