Punjab Tractors Q1 net down 75 pc

Mumbai, July 27 (UNI) Punjab Tractors has witnessed a sharp decline of 75 per cent in its net profit for the quarter ended June 30 to Rs 17.7 crore from the similar quarter of the previous fiscal at Rs 70.7 crore.

Announcing the results, the company said its total revenue has increased from Rs 237.85 crore for the quarter ended June 30, 2005, to Rs 243.8 crore for the quarter ended June 30, 2006.

Recently, the Delhi-based Burman family has increased its share holding in the company to 12.5 per cent through purchases in the open market.

Currently, Actis is the largest shareholder in Punjab Tractors with a stake of 29 per cent, followed by LIC, which has a holding of over 15 per cent.

UNI SN SSS SKB1943