Tata Daewoo Commercial Vehicle Company Limited (TDCV), Korea, a 100% subsidiary of the Company is the second largest manufacturer and marketer of heavy and medium commercial vehicles in Korea. The Company continued its endeavour to accelerate exports which helped it to maintain its position as the largest exporter of heavy commercial vehicles from Korea. Global financial crisis and the economic slow down hit the operations of Company adversely in the second half of the year, both in the domestic and overseas markets. The domestic market saw a declined by 23% in 2008-'09 after registering a steady growth in the last three years. The Company sold 4,857 units of M&HCV in the domestic market in 2008-'09 (previous year 8,587 units) and exported 4,184 units of HCV (3,000 units previous year). The Company's turnover amounted to KRW 673.07 billion (Rs. 2,497.59 crore) which was lower by 5.7% compared to KRW 713.86 billion (Rs. 2,865.02 crore) in the previous year. Profit before Tax at KRW 48.57 billion (Rs. 180.25 crore) declined by 8.0% compared to KRW 52.83 billion (Rs.212.03 crore) in 2007-'08. After providing for tax, the profit was KRW 34.22 billion (Rs. 126.98 crore) against KRW 38.15 billion (Rs.153.11 crore) in the previous year, a decrease of 10.3%. In March 2009 The Company declared and paid an interim dividend at KRW 2,500 per share, on 3,016,060 Common Shares of KRW 5,000 each, aggregating to KRW 7.54 billion in March 2009 from out of un-appropriated retained earnings as at 31 March, 2008.