Financial Daily from THE HINDU group of publications
Friday, Jul 12, 2002
Financial Daily from THE HINDU group of publications Friday, Jul 12, 2002 |
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Corporate
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Announcements Oriental Hotels to pay 45 pc Our Bureau
CHENNAI, July 11 THE Oriental Hotels Ltd board has recommended a dividend of 45 per cent. According to a statement, the `schemes of amalgamation' of Covelong Beach Hotel (India) Ltd. (CBHIL), and Coromandel Hotels Ltd (wholly-owned subsidiary of Oriental Hotels), with Oriental Hotels was sanctioned by the High Courts of Madras and Andhra Pradesh. The two companies were merged on April 1, 2001 and the schemes have been given effect in the accounts for the year ended March 31 2002. The annual financial results for the year ended March 31, 2002 include the results of the amalgamating companies and are not comparable with the previous year figures. The company registered a total income of Rs.100.11 crore and an extraordinary income of Rs.2.75 crore aggregating to Rs.102.86 crore for the year ended March 31, 2002.
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