|
April 18, 2000
Books
Columnists
Indian Tax
Insurance
Interview
Mutual Funds
NRI Tax
Personal Finance
Personal Banking
Real Estate
Stocks
|
| Reliance Industries MQ 2000 Net Profit up by 71.65 % at Rs 6.54 billion |
| Reliance Industries Ltd has announced a net profit of Rs 6.54 billion for the quarter ended March 31, 2000 as against Rs 3.81 billion in MQ 99. The sales are up by 82.81 % at Rs 65.94 billion. Other income is Rs 2.61 billion (MQ99 Rs 2.02 billion). The Gross Profit for the quarter is 88.30 % up at Rs15.93 billion as against Rs 8.46 billion in corresponding quarter of the last financial year. The profits for the year ended March 31, 2000 are Rs 24.03 billion, as compared to Rs 17.04 billion in the previous financial year. The annual sales are 39.50 % up at Rs 203.01 billion as against Rs 145.53 billion in the financial year ending March 1999. The Gross Profit for the year is 43.04 % up at Rs 47.46 billion as against Rs 33.18 billion in last year. The company has informed that the profits for the year would have been higher by Rs 3/- billion had there been no change in the depreciation policy from SLM to WDV in respect of certain assets. |
| Gujarat Gas MQ 2000 Net Profit at Rs 125.45 million |
| Gujarat Gas Company Ltd has reported a net profit of Rs 125.45 million for the quarter ended March 31, 2000 as against a loss of Rs 161.96 million in MQ 99. The sales are up by 37.28 % at Rs 705 million. Other income is Rs 35/- million (MQ99 Rs 21.90 million). However, during the finalisation of accounts for the financial year 1998-99, the Company as a prudent accounting policy provided for various extraordinary items. As a result the figures for the quarter ending 31 March 1999 may not exactly match with figures published last year. The Board of Directors has approved an interim dividend of Rs 4/- per share. The Board has fixed May 25, 2000 as the record date for the purpose of the aforesaid interim dividend. |
| Gujarat Ambuja Net rises 66%, Extraordinary income of Rs 2216.90 million |
Gujarat Ambuja Cements Ltd announced a net profit of Rs 3760.30 million for the first nine months ending March 31, 2000 as against Rs 927.30 million for the corresponding period of the previous year. During the first nine months the company has produced 41.25 lac tonnes of clinker as against 37.79 lac tonnes in the previous period. The total sale of cement including clinker during the first nine months has been 42.01 lac tonnes as against 42.11 lac tonnes in the previous period.
The turnover of the company for the first nine months has gone up to Rs 9435 million as against Rs 8815.80 million during the previous period, an increase of 7%. The operating profit from ordinary business has gone up to Rs 3141.50 million from Rs 2651.50 million, an increase of 18%. The net profit for the same period is higher by 66% at Rs 1543.40 million as against Rs 927.30 in the corresponding of the previous year. The company has attributed the higher net profit to its continuos efforts to reduce costs. This profit has been arrived at after charging interest of RS 69.40 million, depreciation Rs 926.20 million and tax of Rs 25 lacs.
In addition to this profit the company has earned an extraordinary income of Rs 2216.90 million on account of profit on sale of shares of Ambuja Cement Eastern Ltd. After including this income the net profit for the nine months period is Rs 3760.30 million as against Rs 927.30 million in the same period of the last year. The net worth of the company as on March 31, 2000 is Rs 14.28 billion.
|
| BEML MQ 2000 Net Profit up by 87.28 % at Rs 310.70 million |
| Bharat Earth Movers Ltd has reported a net profit of Rs 310.70 million for the quarter ended March 31, 2000 as against Rs 165.90 million in MQ 99. The sales are up by 5.87 % at Rs 5951.60 million. Other income is Rs 158.60 million (MQ99 Rs 222.40 million). The Profit before tax is higher by 106.37 % at Rs 385.70 million as compared to Rs 186.90 million in MQ 99. The year to date net profit for the current year is Rs 150 million. |
| Jammu & Kashmir Bank MQ 2000 Net Profit up by 41.07 % at Rs 278.90 million |
| The Jammu & Kashmir Bank Ltd has announced a net profit of Rs 278.90 million for the quarter ended March 31, 2000 as against Rs 197.70 million in MQ 99. The interest earned is up by 27.81 % at Rs 2521.10 million. Other income is Rs 437.20 million (MQ99 Rs 93.40 million). The profits for the year ended March 31, 2000 are Rs 1190 million, as compared to Rs 854.50 million in the previous financial year. The annual sales are 26.64 % up at Rs 8785.10 million as against Rs 6937.30 million in the financial year ending March 1999. The working results for the quarter ended 31st March, 2000 have been arrived at after considering provisions for tax, bonus, gratuity & NPAs on an estimated basis. |
| Thomas Cook MQ 2000 Net Profit up by 11.32 % at Rs 43.17million |
| Thomas Cook Ltd has announced a net profit of Rs 43.17million for the quarter ended March 31, 2000 as against Rs 38.78 million in MQ 99. The sales are up by 11.29 % at Rs 200.25 million. Other income is Rs 2.64 million (MQ99 Rs 2.98 million). The profits for the quarter have been arrived at after amortizing proportionate start up expenses of new business. |
| National Fertilizers MQ 2000 Net Profit down by 76.21 % at Rs 45 million |
| National Fertilizers Ltd has announced a net profit of Rs 45/- million for the quarter ended March 31, 2000 as against Rs 189.16 million in MQ 99. The sales are down by 8.05 % at Rs 4.50 billion. Other income is Rs 62.76 million (MQ99 Rs 82.18 million). The profits for the year ended March 31, 2000 are Rs 260.51 million, as compared to Rs 411.48 million in the previous financial year. The sales for the year are 8.48 % up at Rs 24.98 billion as against Rs 23.02 billion in the financial year ending March 1999. The net profit for the quarter and the year ended March 31, 2000 and the year ended March 31, 1999 have been arrived at after making a provision on account of revision in pay scales w.e.f. January 1, 1997. |
| Beehive Trading EGM approves name change, preferential issue |
| The Members of Beehive Trading and Exports Ltd have approved the company's proposal to change the name of the company from its present name to ETC Networks Ltd. The members also passed resolutions enabling the issue of 1,500,000 equity shares of Rs 10/- each for cash, at a premium of Rs 190/- per share on preferential basis. The total sum to be raised would amount to Rs 300,000,000/-. The shares shall be issued in one or more tranches to individuals, OCBs, Bodies Corporate, NRIs, FIIs, Mutual Funds on preferential basis. The above decisions were taken at the Extra Ordinary general Meeting of the company held today (April 18, 2000). |
| Vashisti Detergents net profit up by 10% |
The Board of Vashisti Detergents announced its annual results on April 17, 2000 for the year ended March 31, 2000.
The gross turnover for the year, at Rs 2256.50 million was higher by 1.80% as compared to Rs 221.60 million reported for the previous year. Other income rose significantly to Rs 11.50 million as compared to Rs 1.80 million in the previous year mainly due to the income from deployment of surplus funds.
Profit after interest but before depreciation and tax rose by 10.50% to Rs 99.10 million as compared to Rs 89.70 million in the previous year. Depreciation for the year was Rs 39.80 million as against Rs 39.60 million in the previous year. Interest for the year was Rs 16.80 million as against Rs 17.90 million in the previous year. The company, for the first time had to make provision for Minimum Alternative Tax of Rs 4.20 million, as as compared to Zero Tax last year. Net profit for the year at Rs 55.10 million reflects an increase of 10 % (previous year Rs 50 million.)
|
| Hinduja Finance to consider exchange ratio for Richman Investrade on April 20
|
| The Board of Hinduja Finance Corporation Ltd (HFCL) had earlier given its in-principle approval for the merger of Richman Investrade Pvt. Ltd with the company. M/s A.F.Ferguson & Co., Chartered Accountants, were appointed as the Valuers to do the valuation of Richman Investrade and recommend the Exchange Ratio. They are likely to submit their report by April 19, 2000. The Board of Directors of HFCL at its meeting scheduled on April 20, 2000 would consider the said valuation report and the Exchange Ratio.
|
| Ranbaxy-Knoll enter into marketing alliance
|
Ranbaxy Laboratories Ltd has entered into an agreement with Knoll India to market a basket of leading Knoll brands in select overseas markets, a press release issued by the company said.
Under the terms of the agreement, Ranbaxy will have exclusive, long term marketing rights for leading Knoll brands including Digene, Epilex and Nausadine, amongst others, in the markets like Myanmar, Vietnam, Cambodia, Malaysia, Singapore, Thailand, Philippines, Russia, Africa, Iraq, Bangladesh, Latin America, and the Central America/Carribbean Islands. The company already has significant operations and a well established marketing and distribution infrastructure in most of these countries which would be leveraged to establish these brands as the leading products in their respective therapeutic segments, added the press release.
According to the company the potential of this relationship to yield results is immeidate since brands like Digene are well known in some of these countries. Further products will receive approval for marketing shortly, providing the initial thrust to the alliance.
|
| DSQ Software MQ 2000 Net Profit up by 130.45 % at Rs 224 million
|
| DSQ Software Ltd has reported a net profit of Rs 224 million for the quarter ended March 31, 2000 as against Rs 97.20 million in MQ 99. The sales are up by 36.74 % at Rs 902.20 million. Other income is Rs 3.50 million (MQ99 Rs 13.10 million). The interest charges have gone down 75.76 % from Rs 62.70 million in MQ 99 to Rs 51.20 million in MQ 2000. The depreciation charges are also down at Rs 109.10 million as against Rs 127 million in MQ 99. The paid up share capital has gone up from Rs 202.50 million to Rs 302.50 million.
|
RISC
Tell us what you think of this feature
|
