The Hindu : Telco reduces loss

Online edition of India's National Newspaper
Thursday, Jun 06, 2002

Business

Business

Telco reduces loss

By Our Special Correspondent

MUMBAI JUNE 5. Tata Engineering today stated that it reduced its loss to Rs. 54 crores for the year ended March 31, 2002 against the loss of Rs. 500 crores in the previous year.

The company's revenues have improved by 9 per cent to Rs. 8,918 crores from Rs. 8,164 crores in 2000-01. "The company continued its aggressive thrust in several areas such as cost reduction of Rs. 332 crores, market share gains and prudent fiscal management, all of which enabled it to improve the operating profit to Rs. 740 crores, an increase of 80 per cent over Rs. 411 crores in 2000-01. Operating margins improved to 8 per cent in 2001-02 from 5 per cent in 2000-01," the company stated in a release.

It further stated that the market share in the medium and heavy commercial segments increased to 68 per cent with the market share in the truck segment rising to 72 per cent. Indica V2 broke the record in the B segment to remain the largest selling model in the last nine months of the year. Indica's market share increased to 23 per cent in its segment. "Indica operations generated a cash profit for the year, in the third year of operation, with volumes of over 64,000 units," it added.

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