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Goodyear net up

Our Bureau

NEW DELHI, March 24

GOODYEAR India Ltd (GIL) has reported a 28.60 per cent increase in net profit for the year ended December 31, 1999, at Rs. 18.93 crores as compared to a net profit of Rs. 14.72 crores recorded in the corresponding period of the previous year.

Net sales of the company during the accounting year ended December 31, 1999, increased to Rs. 665.64 crores as against net sales of Rs. 535.28 crores recorded during the year

ended December 31, 1998.

The board of directors of the company, at a meeting

here on Friday, adopted the audited accounts and recommended a dividend of Rs. 3 per equity share for the year ended December 31, 1999.

``Our unit sales volume in 1999 has shown a growth of over 37 per cent compared to 1998, with significant gains in both replacement and original equipment channels. To ensure deeper market penetration, we plan to open more exclusive tyre centres in major cities,'' Mr. Neville P. Moos, Chairman and Managing Director, Goodyear India, said in a statement here.

Other income for the period under review stood at Rs. 2.58 crores (Rs. 2.62 crores). Interest outgo increased by 31.89 per cent during the year to Rs. 16.71 crores (Rs. 12.67 crores).

Gross profit (after interest but before depreciation and taxation) increased from Rs. 28.01 crores during the year ended December 31, 1998 to Rs. 31.45 crores during the year ended December 31, 1999. Depreciation for the period under review stood at Rs. 9.10 crores (Rs. 6.22 crores). The company has provided a sum of Rs. 3.42 crores (Rs. 7.07 crores) towards taxation.

Hoechst to pay

35% interim

Our Bureau

MUMBAI, March 24

THE board of directors of Hoechst Marion Roussel Ltd has declared an interim dividend of 35 per cent i.e. Rs. 3.50 per equity share for the financial year ending March 31, 2000, a company press release said on Friday.

The interim dividend will absorb an amount of Rs. 8.06 crores excluding the dividend distribution tax.