Tata Motors Ltd has decided to skip dividend for 2014-15 because of the colossal loss of over Rs.4,700 crore suffered by it during the year.
In a communication to the stock exchanges, TML said that its Board of Directors today decided that in view of the ‘continued weak operating environment in the standalone business and in view of the losses for the year’ no dividend was permitted to be paid to the shareholders for 2014-15 as per the Companies (Declaration and Payment of Dividend) Rules, 2014.
For the full year on a standalone basis, the company's net income stood at Rs.36,294.74 crore as against Rs.34,288.11 crore in the earlier fiscal, an increase of 5.9 per cent. But the company posted net loss of Rs.4,739 crore as against net profit of Rs.335 crore in 2013-14.
Shares of Tata Motors closed at Rs.497.10, a loss of Rs.8.10, on the BSE
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