ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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RAYMOND-Good Show

TELCO Demand Slump A SHARP downtrend in overall market demand, especially in the demand for medium and heavy commercial vehicles (MCVs and HCVs), Telco's mainstay, affected the company's performance during 1997-98. While net sales fell by 28.7 per cent over 1996-97, the company' s operating profit was lower by 32.4 per cent. Steep increases in interest (up 54.1 per cent) and depreciation (up 23.9 per cent) only added to the company's woes. Consequently, the company's net profit fell drastically by 61.4 per cent.

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