Mahavir Spinning Net At Rs 54 Crore

Mahavir Spinning Mills Ltd has posted its financial audited results for the year ended March 31, 1998. The company has recorded a turnover of Rs 576.34 crore from Rs 539.39 crore posted during the previous year. The net profit of the company stood at Rs 54.01 crore as against Rs 37.45 crore the previous year. The directors have proposed a dividend of 40 percent on the equity shares. Besides, the entire 14 percent preference share capital to the extent of Rs 4.50 crore had been redeemed during the year.