Corporate
Videocon unit for hi-tech products
VIDEOCON International Ltd (VIL), the Rs 4,500-crore white goods and brown goods major, would dedicate its proposed Hyderabad unit for developing technology intensive products, according to the VIL President, Mr P.N. Dhoot.
Exporters seek mandate to hire and fire
THE Federation of Indian Exporters' Organisation (FIEO) has suggested to the Second National Commission on Labour that
Balrampur Chini changes strategy
INSTEAD of fresh acquisitions, sugar major Balrampur Chini Mills Ltd will now focus more on by-product utilisation to consolidate its leadership position in the industry.
Tata Metaliks targets 20 pc growth in sales
TATA Metaliks Ltd (TML) has targeted a 20 per cent increase in sales during 2001-2002 against Rs 108.38 crore achieved in 2000-2001. This follows the recently completed capacity expansion exercise.
J.M. Morgan to advise TCIL on open offer
J.M. Morgan Stanley will be advisors for the open offer that follows shareholders' rejection of the special resolution at Thomas Cook India Ltd's (TCIL) June 8 EGM, seeking to grant ``indirect control'' of TCIL to C&N Touristic AG.
Jindal: At the wrong end of the stick
HAS Jindal Aluminium opened the Pandora's box by releasing an advertisement on July 25 alleging favouritism by the Union Finance Ministry in fixing the import tariff for aluminium?
Conference to discuss Dr Reddy's results
HYDERABAD: Dr Reddy's Laboratories Ltd (DRL) has announced that its board would take on record the financial results for the first quarter of the current fiscal ended June 30, 2001 at a meeting scheduled for July 31 after the close of the financial marke
ts.
Be prepared for tough times ahead, refractory sector told
THE Deputy Managing Director of Tata Steel, Mr F.A. Vandrevala, has stated that the steel and allied industries such as the refractory sector are in for more difficult times ahead. According to him, ``things can and are likely to get worse'' for the indu
stry which is already in dire straits.
Financial Performance
Precot Mills profits slide
COIMBATORE: The sluggish market conditions for cotton textiles, especially for cotton yarn in the export market has pulled down the financial performance of Precot Mills Ltd, which has recorded a decline in its sales and also the net profit for the quart
er ending June 30, 2001.
Deferred tax eats into Indian Rayon profits
INDIAN Rayon & Industries Ltd has ended the April-June 2001 quarter with a flat growth in net profit at Rs 9.91 crore as compared to Rs 9.83 crore in the year-ago period.
Indal Q1 net rises 12% to Rs 28.7 cr
INDIAN Aluminium Company Ltd (Indal) has reported a first quarter (April-June 2001) sales of Rs 335.9 crore, 18 per cent higher than the Rs 285.2-crore recorded in the same period the previous year.
Wockhardt Q2 net zooms to Rs 22.7 cr
MUMBAI: Wockhardt Ltd has registered a 71 per cent increase in net profit at Rs 22.7 crore in the second quarter ended June 30, 2001 against Rs 13.3 crore in the same period the previous year.
Titan Industries loss at Rs 14.61 crore
BANGALORE: Titan Industries Ltd has registered a loss of Rs 14.61 crore in the first quarter. The company had made an operating loss of Rs 9.51 crore in the first quarter of the previous year before providing for the extraordinary profit of Rs 9.66 crore
from sale of shares.
TVS Electronics net drops 39 pc
CHENNAI: TVS Electronics Ltd has reported a 39 per cent drop in the net profit for the quarter ended June 30, 2001, compared to the corresponding quarter previous year.
Sical net profit at Rs 7.73 crore
South India Corporation (Agencies) Ltd (SicaL) has reported a net profit of Rs 7.73 crore for the quarter ended June 30, 2001, 12 per cent higher than the Rs 6.91-crore reported for the same period the previous year.
BEL PAT at Rs 13.50 crore
BANGALORE: Bharat Electronics Ltd has reported a profit-after-tax (PAT) of Rs 13.50 crore for the quarter ended June 30, 2001 against Rs 9.65 crore in the same period the previous year. Profit-before-tax stood at Rs 14. 59 crore, (Rs 10.10 crore) on a
turnover of Rs 163.61 crore (Rs 130.10 crore).
Creative Eye net profit falls
MUMBAI: Creative Eye Ltd has reported a fall in net profit at Rs 0.31 crore for the quarter ended June 30, 2001 as against Rs 1.41 crore in the year-ago period.
Adani Exports posts net Rs 24.52 cr
AHMEDABAD: The Adani Exports Ltd (AEL) has posted a net profit of Rs 24.52 crore for the first quarter of 2000-01, down 11.5 per cent from Rs 27.71 crore in the corresponding period in the previous year. The net sales also was down to Rs 614.28 crore fro
m Rs 631.56 crore in 1999-00.
CESC Q1 loss up at Rs 40 crore
KOLKATA: The RPG-controlled power utility CESC Ltd has reported an around 160 per cent increase in its net loss in the first quarter of the current fiscal.
BOC India on growth path -- Guarded on dividend payment
DESPITE improvement in performance in 2000-01 over 1999-2000, the shareholders of BOC India Ltd, at the company's annual general meeting here today, could not extract any firm commitment from the management on dividend payment.
Sterlite net up 22% at Rs 127.91 cr
MUMBAI: Sterlite Industries (India) Ltd has ended the year (July-June) 2001-2002 with a 22 per cent increase in net profit at Rs 127.91 crore against Rs 105.11 crore in the previous year.
Arvind Mills loss down at Rs 67.88 cr in Q1
Arvind Mills Ltd has restricted losses in the first quarter ended June 30, 2001 to Rs 67.88 crore compared to a loss of Rs 94.9 crore for the period ended June 30, 2000.
Charminar Breweries net at Rs 1.4 cr in Q1
HYDERABAD: Charminar Breweries Ltd (CBL) has registered a significant growth both in sales turnover and net profit for the first quarter of current fiscal year ended June 30, 2001.
Kesoram Industries net up at Rs 12.29 cr
KOLKATA: Kesoram Industries Ltd, a B K Birla group outfit, has reported a net profit of Rs 12.29 crore during the first quarter ended June 30, against a loss of Rs 4.66 crore in the corresponding period in 2000-2001.
Nirma net down 13 pc at Rs 58.63 cr
AHMEDABAD: The Nirma Ltd has posted a net profit of Rs 58.63 for the first quarter of the current fiscal, down 13.3 per cent from Rs 67.6 crore for the corresponding period last year. The quarter also saw the chemicals and detergent company's net sales s
lip to Rs 533.5 crore, down from Rs 552.14 crore in the quarter ended June 30, 2000.
Natco Pharma net up at Rs 4 lakh in Q1
HYDERABAD: Natco Pharma Ltd (NPL) has turned the corner during the first quarter of the current fiscal ended June 30, 2001 by posting a nominal profit of Rs 4 lakh as against a net loss of Rs 9.58 crore in the same period the previous year.
Aventis Cropscience PBT at Rs 8.2 cr
MUMBAI: Aventis Cropscience India Ltd has reported a 61 per cent increase in sales for the quarter ended June 30, 2001. Major restructuring efforts during last year and increased market focus have produced improved financial results for the company.
Vera Labs net loss at 3.18 cr
Vera Laboratories Ltd, the Hyderabad-based ailing pharmaceutical company, has recorded a steep rise in its losses for the quarter ended June 30, 2001 despite having registered a growth in sales turnover.
Unichem Labs net up 63 pc in Q1
MUMBAI: Unichem Laboratories has registered a 63 per cent increase in net profit at Rs 8.66 crore in the first quarter ended June, 30, 2001 as against Rs 5.31 crore in the corresponding period last year.
Sri Vishnu Cement turns the corner
CHENNAI: Sri Vishnu Cement Ltd, in which India Cements Ltd has an almost 95 per cent stake, has posted a net profit of Rs 3.24 crore on a turnover of Rs 34 crore for the quarter ended June 30, 2001 against a loss of Rs 1.27 crore on a net sales of Rs 37.
30 crore in the same period the previous year.
Mutual Funds
`US-64 will comply with SEBI norms'
THE US-64 scheme will voluntarily comply with the norms of the Securities and Exchange Board of India (SEBI) governing mutual funds from January 1, 2002 when the scheme is scheduled to become net asset value (NAV) based.
Textiles
SIV Industries in trouble again
THE ailing SIV Industries at Sirumugai near Mettupalayam is in trouble again. After the Tamil Nadu Pollution Control Board, it is now the Tamil Nadu Electricity Board that has put the company on notice for non-payment of dues amounting to Rs 2.8 crore.
