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April 20, 2000
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| Hughes Software MQ 2000 Net rises 302.35 % |
Hughes Software Ltd has reported a net profit of Rs 119.90 million for the quarter ended March 31, 2000 as against Rs 29.80 million in MQ 99 an increase of 302.35 %. The sales are up by 83.66 % at Rs 332.80 million. Other income is Rs 27.20 million (MQ 99 Rs 2.40 million). Last year the company had made a provision of Rs 9.10 million on account of Y2K transition and the same has been reversed during the year on successful rollover of Y2K, the amount being included in other income.
The profits for the year ended March 31, 2000 are Rs 377/- million, as compared to Rs 146.60 million in the previous financial year, an increase of 157.16 %. The annual sales are 56.70 % up at Rs 1072.90 million as against Rs 684.70 million in the financial year ending March 1999. On the equity capital of Rs 166.30 million the company has reported an EPS of Rs. 22.67. The company has earned an interest income of Rs 17.30 million for the quarter and Rs 101/- million for the year ending March 31, 2000.
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| Indian Rayon FY 2000 loss at Rs 2.41 billion, Exceptional loss Rs 2.99 billion |
Indian Rayon Ltd has announced a net loss of Rs 2.41billion for the year ended March 31, 2000 as against a profit of Rs 1.06 billion in FY 99. The loss incurred due to the company's decision to exit from the Sea Water Magnesia business was written off during the year amounting to Rs 2.99 billion. Due to this exceptional item the company's results and the EPS are showing negative. The sales for the year are down by 17.83 % at Rs 10.72 billion. Other income is Rs 521.20 million (MQ 99 Rs 944.30 million).
The results for the year ended March 31, 2000 includes 3 months operation of Madura Garments, which was acquired by Indian Rayon as a going concern with effect from January 1, 2000. The results for the previous year ending included the operation of the erstwhile cement division of the company that was demerged with effect from September 1, 1998. For these reasons the results for the two periods may not be strictly comparable.
During the year company bought back 7,606,419 equity shares at a price of Rs 85/- per share as a results of which the equity stands reduced to Rs 598.80 million.
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| Cadbury MQ 2000 net profit up by 13.27 %, turnover rises 20.07 % |
| Cadbury India Ltd has announced a net profit of Rs 105 million for the quarter ended March 31, 2000 as against Rs 92.70 million in MQ 99. The sales are up by 20.07 % at Rs 1393.40 million. Other income is Rs 17.20 million (MQ99 Rs 7.70 million). The gross profit is 18.86 % higher at Rs 211.80 million than the MQ 99 figures of Rs 178.20 million. The interest expenditure at Rs 8.30 million has reduced by 31.97 % (MQ 99 Rs 12.20 million). The tax provision for the reported quarter is Rs 55.40 million as compared to Rs 39.50 million representing an increase of 40.25 %. The depreciation charged for the quarter is Rs 49.80 million. |
| Swojas Energy Loss down by 50.50 %, Turnover down 87.19% |
| Swojas Energy Foods Ltd has reported a net loss of Rs 9.30 million for the quarter ended March 31, 2000 as against a loss Rs 18.79 million in MQ 99, a decrease of 50.50%. The sales are down by 87.19 % at Rs 5.41million. The interest burden is 94.06 % higher at Rs 2.32 million as against Rs 1.20 million for MQ 99. Depreciation is lower by Rs 0.19 million at Rs 2.119 compared to Rs 2.308 million in March quarter 1999. |
| Hindustan Copper net loss down by 46.40%, Operating revenue rises 22.65% |
| Hindustan Copper Ltd has announced a net loss of Rs 373.02 million for the quarter ended March 31, 2000 as against Rs 695.91million in MQ 99. The sales are up by 22.65 % at Rs 1484.48 million. Other income is Rs 7.45 million (MQ 99 Rs 51.93 million). The interest for the quarter ended March 31, 2000 is Rs 166.27 million 21.95 % higher as compared to Rs 136.34 million in MQ 99. |
| Ranbaxy denies Newspaper reports regarding "Net trading posts for bulk drugs" |
In a correspondence to the BSE, Ranbaxy Laboratories Ltd has denied the reports appearing in a daily newspaper on April 20, 2000 reporting the company's plans to set up a portal for trading, largely in Bulk Drugs.
In its correspondence, the company has stated that the contents of the news appear to be based on hearsay and speculation and that none of the contents are factual.
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| Alok Textiles to issue 473,000 equity shares at Rs 63.40 per share to ICICI Ltd |
| The Board of Directors of Alok Textile Industries Ltd will meet on April 28, 2000 consider amongst other things the issue and allotment of 473, 000 equity shares of Rs 10/- each to ICICI Ltd. The shares will be issued at a premium of Rs 53.40 per share. The issue is being made as an outcome of ICICI's decision to convert 3 million preference shares aggregating Rs 30 million subscribed by them on private placement basis in the company into equity shares. At the same meeting the Board will also consider the unaudited financial results for the quarter ended March 31, 2000. |
| Smithkline Consumer MQ 99 net up by 14.47%, turnover rises 5.11% |
| Smithkline Beecham Consumer Healthcare Ltd has announced a net profit of Rs 227/- million for the quarter ended March 31, 2000 as against Rs 198.30 million in MQ 99. The sales are up by 5.11 % at Rs 1726.40 million. Other income is Rs 110.30 million (MQ 99 Rs 92.70 million). The interest expenditure for the quarter has increase by 535 % from Rs 3.40 million to Rs 21.60 million in the MQ 2000. The depreciation is Rs 37.10 million as against Rs 26.30 million in MQ 99. The company had acquired the brands VIVA and MALTOVA in mid February. However the invoicing for these brands started only from last week of March 2000, reported the company. |
| Indsil Electrosmelts MQ net rises 53%, turnover up by 72.57% |
| Indsil Electrosmelts Ltd has announced a net profit of Rs 21.16 million for the quarter ended March 31, 2000 as against Rs 13.82 million in MQ 99. The sales are up by 72.57 % at Rs 105.61million. Other income is Rs 3.22 million (MQ 99 Rs 1.32 million). The profits for the year ended March 31, 2000 are Rs 63.49 million, as compared to Rs 48.40 million in the previous financial year, an increase of 31.17 %. The annual sales are 44.98 % up at Rs 359.05 million as against Rs 247.66 million in the financial year ending March 1999. On the equity capital of Rs 77.23 million the company has reported a basic & diluted EPS of Rs 8.14 for the year 1999-2000. |
| Polaris Software AGM on May 24, Board seeks approval for preferential issue
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| The Board of Directors of Polaris Software Ltd has convened the Seventh Annual General Meeting of the company on May 24, 2000. The Board has sought the approval of members of the company for further issue of equity shares, equity linked securities or other financial instruments to various investors. The sum so raised shall not exceed USD150 million or its equivalent in any other currency of any other country or Rs 7 billion in Indian currency whichever is higher.
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| HCL Technologies Q3 Net rises 122.24%, Turnover up by 32.27%
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| HCL Technologies Ltd has announced a net profit of Rs 519.19 million for the quarter ended March 31, 2000 on a turnover of Rs 968.89 million. The sales for the corresponding quarter in the previous year were Rs 732.51 and profits were Rs 233.62 million. Other income for the current quarter is Rs 206.10 million (MQ 99 Rs 3.36 million). The profits for the nine months ended March 31, 2000 are Rs 1273.29 million, as against Rs 622.93 million in the previous financial year, an increase of 104.40 %. The annual sales are 36.40 % up at Rs 2725/- million as against Rs 1997.83 million in the financial year ending March 1999. On the equity capital of Rs 559.05 million the company has reported a basic earning of Rs 3.73 per equity share of face value Rs 4/- each (for quarter ended March 31, 2000).
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| VisualSoft Bonus in the ratio of 2:1, 1999-2000 Profits up by 144.40%
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VisualSoft Ltd has announced a net profit of Rs 90.55 million for the quarter ended March 31, 2000 as against Rs 44.82 million in MQ 99. The sales are up by 104.95 % at Rs 222.04 million. Other income is Rs 6.74 million (MQ 99 Rs 1.53 million). The profits for the year ended March 31, 2000 are Rs 283.84 million, as compared to Rs 116.14 million in the previous financial year. The annual sales are 124.25 % up at Rs 679.84 million as against Rs 303.17 million in the financial year ending March 1999. The total sales for the year includes Rs 333.86 million from export of software products and for the quarter its is Rs 115.43 million. On the equity capital of Rs 65.50 million, the company has reported a basic EPS of Rs 43.33, and diluted earnings of Rs 43.20 per share. The Board has recommended to issue Bonus shares in the ratio of 2:1 i.e. two shares for every one share held. The Board has recommended a dividend of Rs 3/- per share.
At the Board meeting held today the Board also decided to issue equity shares not exceeding 500,000 shares to various investors on preferential basis at a price to be decided as per the SEBI guidelines. The Board has been authorised to take all the actions as may be required to give effect to the same. The Board also decided to enter into strategic alliances/ joint ventures/acquisitions etc. at an opportune time subject to the approval of the RBI, Central Government and other appropriate authorities.
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