June 22, 2002 | Business Standard

Nelco declares dividend after 7 years

After a gap of 7 years, Tata group compay Nelco has declared a 10 per cent dividend for 2001-02. The satellite communication company returned to the dividend list having recorded a net profit of Rs 1.34 crore on sales of Rs 91.33 crore for the nine months ended March 31, 2002. Mahashur, executive director, ISG group, and Zal Engineer, executive director, Tatanet division, said: "This turnaround is the result of a completion of a large order in strategic electronics business and due to sustained improved performance of the Tatanet division".