Business

Parry Agro skips dividend

CHENNAI: Parry Agro has achieved a higher net profit of Rs. 1.23 crores in 2001-02 against Rs. 1.13 rores. But the company has skipped the equity dividend. The turnover was lower at Rs. 82.71 crores against Rs. 83.65 crores and the profit before taxation at Rs. 1.38 crores against Rs. 1.63 crores. The continued adverse market conditions coupled with over-supply of tea from other countries affected the tea industry. A dividend of 10.25 per cent has been recommended on preference shares.

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