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Titagarh Wagons Ltd has reported a net profit of Rs 4.69 crore during the fourth quarter of FY2013 against Rs 12.94 crore in the comparable quarter of FY2012. Net profit for the year to March 31, 2013 stood at Rs 23.88 crore (Rs 76.62 crore).
In a note to the accounts, TWL said that Rs 2.81-crore compensation received for the termination of the joint venture agreement with FreightCar America Inc was considered as “other income” during Q4.
Total income including other income during the quarter was Rs 152.86 crore (Rs 129.42 crore).
The company has recommended a dividend of Rs 4 a share.
Titagarh Wagons also said that business segments based on the company products include wagons & coaches and heavy earth moving machines.
The statement clarified and reconfirmed TWL’s position vis-à-vis a cancelled restructuring proposal. TWL said that the company’s board in February had “cancelled” an earlier proposed scheme of arrangement to hive off the rail coach and earth moving divisions.
jayanta.mallick@thehindu.co.in
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