Corporate
Gland Pharma plans bio-informatics foray -- To set up co at Rs 15 cr
BIO-INFORMATICS seems to be the new flavour of the corporates, especially pharma and information technology (IT). After Satyam and the GVK group, it is now the turn of Gland Pharma, a pioneer in the manufacture of injectables such as Heparin, to float a
new initiative in this emerging field.
R. Thompson is new Novartis chief
NOVARTIS India Ltd has announced that Dr R. Thompson would succeed Dr E. Schillinger as President and Managing Director of the company, a company release said here.
Jeypore Sugar plans co-generation plant
FOLLOWING the acquisition of the Chagallu distillery of the Nizam Sugars Ltd, the management of Jeypore Sugar Company Ltd, has drawn up plans to install a 27 MW co-generation project with a total outlay of Rs 40 crore.
Revised revival plan -- Proposal to split Sol Pharma mooted
THE Board for Industrial and Financial Reconstruction (BIFR) has circulated a revised draft rehabilitation scheme for the ailing Sol Pharmaceuticals Ltd (SPL). The proposal envisages splitting of the existing company into two firms.
Lakme-Lever to host HLL's joint venture with ICI
FAST moving consumer goods (FMCG) major Hindustan Lever Ltd (HLL) has identified Lakme-Lever as the subsidiary company to host its proposed joint venture with the ICI group, for the Quest division of HLL's flavours and fragrances business.
Hyderabad Security Printers gets ISO
HYDERABAD: Hyderabad Security & Offset Printers Ltd (HYSEP) has been awarded the ISO 9002 certification for excellence in the manufacture and delivery of printed packaging and publicity materials.
Dr Reddy's unveils new corporate identity
DR Reddy's Laboratories Ltd (DRL), which recently tapped the overseas capital market with its American Depository Shares (ADS) offering and got listed on the New York Stock Exchange (NYSE), has unveiled its new corporate identity and philosophy -- Life,
Research, Hope.
Dr Reddy's still caught in eco litigation
DR REDDY's Laboratories Ltd (DRL), which is currently eying the overseas generic non-branded formulations markets and simultaneously upgrading its manufacturing facilities to the US-FDA standards, may not be discharged from the environmental litigation p
ending against it in the Supreme Court in the near future.
`Approach paper' on cos' valuation
THE Institute of Chartered Accountants of India (ICAI) has decided to draft an ``approach paper'' that would help in the development of a monograph on valuation of companies.
Financial Performance
Gujarat Ambuja Q3 net at Rs 65.69 cr
GUJARAT Ambuja Cement Ltd (GACL) has posted a net profit of Rs 65.69 crore for the third quarter ended March 31, 2001, as against Rs 49.90 crore in the same period the previous year, according to an official statement here.
Guj Ambuja: A well-managed show
GUJARAT Ambuja Cements has set the ball rolling for what might be a good earnings growth in the January-March quarter for the cement industry based on high prices despite flat volumes growth. As a pure cement player, Gujarat Ambuja's numbers are a good p
ointer to what is in store for the sector. This is despite the fact that not too many companies match it in terms of efficiency.
Crisil net down 34 pc; to pay Rs 5.50
MUMBAI: Credit Rating Information Services of India Ltd (Crisil) has reported a 33.65 per cent fall in net profits at Rs 9.66 crore for the year ended March 31, 2001, as against Rs 12.91 crore in the previous year.
BHEL PAT rises
NEW DELHI: Bharat Heavy Electricals Ltd has posted a net sales of Rs 3,040.50 crore and a profit after tax (PAT) of Rs 490.03 crore for the quarter ended March 31, 2001. For the corresponding period of the previous year, the company posted a net sales of
Rs 2,802.42 crore and a PAT of 353.64 crore.
GAIL sales up
NEW DELHI: Gas Authority of India Ltd (GAIL) has posted a net sales of Rs 2,570.77 crore and a profit after tax (PAT) of Rs 335.63 crore for the quarter ended March 31 2001. For the corresponding period of the previous financial year, the company registe
red a net sales of Rs 2,388.89 crore and a PAT of Rs 223.93 crore.
Maars Soft net drops 17 pc in Q1
CHENNAI: Maars Software International Ltd, which is set to merge with Mascon Global Ltd, has reported a 17 per cent drop in net profit of Rs 3.05 crore, on a turnover of Rs 20.27 crore for the first quarter ended March 31, 2001, compared to Rs 3.71 crore
, on a turnover of Rs 20.08 crore during the corresponding quarter last year.
CMC net up 92 pc
THE State-owned CMC Ltd has registered a 92.6 per cent jump in its net profit at Rs 24.46 crore for the fiscal 2000-01 as compared to Rs 12.70 crore in the previous year.
Procter & Gamble Q3 net up 20 pc
PROCTER & Gamble Hygiene and Health Care Ltd (P&G) has posted a 20 per cent increase in net profit for the third quarter ended March 31, 2001 at Rs 20.82 crore compared to Rs 17.36 crore during the corresponding period last year.
Bharat Electronics turnover, net higher
BANGALORE: Bharat Electronics Ltd has registered a record turnover of Rs 1,715 crore during the 2000-01 fiscal, an increase of 14.8 per cent over the previous year. The company's profit-before-tax was 20.4 per cent higher at Rs 199.89 crore.
Burroughs Welcome net falls
The net profit of Burroughs Welcome (India) Ltd has dipped to Rs 2.61 crore for the quarter ended March 31, 2001, against Rs 2.68 crore in the same period the previous year.
Coates of India PAT up
Coates of India Ltd, for the first quarter ended March 31, 2001, has achieved a marginal increase in profit after tax at Rs 2.6 crore against Rs 2.4 crore reported for the same period the previous year.
UB net profit drops to Rs 8 lakh
MUMBAI: United Breweries has recorded a 23 per cent growth in income for the year ended March 31, 2001, at Rs 331 crore.
McDowell net down
McDowell & Co Ltd has posted a net profit of Rs 22.24 crore for the year ended March 31, 2001 as compared to Rs 24.59 crore during the corresponding period last year.
Exide Industries net declines
KOLKATA: The board of directors of Exide Industries Ltd has recommended a final dividend of Rs 1.50 per Rs 10 share, which together with an interim of Rs 2.50 declared on April 5, 2000 made for a total dividend of Rs 4 for the year ended March 31, 2001.
Exide had paid Rs 3.50 for the past few years including 1999-2000.
Glaxo India Q1 net slips 27.8 pc
MUMBAI: Glaxo India Ltd has registered a 27.8-per cent drop in net profit at Rs 10.17 crore in the first quarter ended March 31, 2001, against Rs 14.10 crore in the same period the previous year.
Hero Honda overtakes sluggish market -- Posts 29 pc rise in profit
HERO Honda Motors Ltd (HHML) has registered impressive growth rates of 35 per cent and 41 per cent in sales volume and turnover respectively during the year 2000-01.
Hoechst Marion Roussel net rises 59 per cent
Hoechst Marion Roussel has posted a 59 per cent increase in net profit at Rs 21.1 crore for the quarter ended March 31, 2001 against Rs 13.2 crore in the same period the previous year.
Rolta India's net higher at Rs 30.70 cr
MUMBAI: Rolta India Ltd has posted a net profit of Rs 30.70 crore for the first quarter ended March 31, 2001 compared to Rs 21.36 crore during the same quarter last year, recording a growth of 43.7 per cent.
Mutual Funds
Tata Steel, Cipla emerge favourites of most MFs
CHANGES in portfolios of mutual funds continue unabated, with Cipla and Tisco emerging surprise winners in March.
