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Greaves Cotton Declares Special Interim Dividend For FY12

Greaves Cotton Ltd. said its board approved a special interim dividend of 40 percent or Re.0.80 per equity shares of Rs.2 each for the fiscal year 2012, with a view to distribute part of the one-time gain arising from the sale of land at Thoraipakkam, Chennai.

The company sold its land situated at Old Mahabalipuram Road (Rajiv Salai) for a consideration of Rs.80 crore.

The company reported a stand-alone net profit of Rs.107.75 crore on total income of Rs.1,310.58 crore for the nine months ended December 31, 2011.

At the BSE, Greaves Cotton shares are currently trading at Rs.84.45, down 0.65 percent from the previous close.

by RTTNews Staff Writer

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