After posting losses for seven consecutive quarters, Tata Engineering has finally turned the corner and posted a net profit of Rs 161.2 crore in the fourth quarter of 2001-02 (January-March), against losses of Rs 146.55 crore during the same period in 2000-01. The company has also reduced its annual losses to Rs 53.73 crore in 2001-02 from its record losses of Rs 500.34 crore posted in 2000-01.
The net sales during the fourth quarter of 2001-02 increased 16.9 per cent to Rs 3,062 crore against Rs 2,618 crore during the same quarter of 2000-01. The net sales during 2001-02 were up 10.1 per cent at Rs 8,894 crore from Rs 8,077 crore during 2000-01.
The company has decided to skip dividends for the second consecutive year in view of the losses. The company
