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April 28, 2000
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| P&G MQ 2000 Sales up 13%, Net profit rises 29%
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Procter & Gamble Hygiene and Health Care Ltd (P&G) has announced a net profit of Rs. 173.60 million for the quarter ended March 31, 2000 as against Rs. 134.40 million in MQ 99. The sales are up by 12.97 % at Rs 1307.60 million. Other income is Rs. 16.10 million (MQ 99 Rs 5.60 million). The gross profit is Rs 268.80 million. The company has provided Rs 38.50 million as tax in MQ 2000 as against Rs 21.40 million for the MQ 99. For the nine months ended March 31, 2000 the company has reported a net profit of Rs 530 million as compared to Rs 459.10 million in the same period of the last financial year.
Commenting on the third quarter performance Mr Sumit Bhattacharya, Director, P&G said "The Company has registered good profit growth during the quarter behind a strong feminine care business, export sales growth and an ongoing cost reduction drive. In the health care business, the company has initiated several initiatives including re-launching of Vicks Cough Drops and a drive against counterfeit/pass off products. Early signs indicate recovery of this business."
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| Siemens net profit up 80.33% in MQ 2000, turnover falls by 7.71%
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| Siemens Ltd posted a net profit of Rs. 300.25 million for the quarter ended March 31, 2000 as against Rs. 166.50 million in MQ 99, thus registering an increase of 80.33%. The sales are down by 7.71% at Rs. 2666.08 million as against a figure of Rs. 2888.80 million in MQ 99. Other income is Rs.277/- million (MQ 99 Rs. 224.80 million). On the paid-up equity share capital of Rs. 354.94 million, the company has reported a basic and diluted earning of Rs. 9.04 per share. The equity capital of the company has gone up from Rs. 283.97 million in MQ 99 to Rs. 354.94 million in the quarter ended March 31,2000 as a result of the rights issue which was fully subscribed to and the underlying shares were allotted on November 26, 1999.
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| ICICI Ltd net profit up by 37.25% in MQ 2000, income from operations rises 8.15% |
ICICI Ltd has reported a net profit growth of 37.25% at Rs. 3845.50 million for the quarter ended March 31, 2000 as against Rs. 2801.90 million in MQ 99. The income from operations are marginally up by 8.15 % at Rs. 21305.50 million for the quarter ended March 31, 2000. The profit on sale of investments has gone up from Rs.69.20 in MQ 99 to Rs.1129.70 in the quarter ended March 31,2000. Other income is Rs. 188.20 million (MQ 99 Rs 272.50 million).
The profits for the year ended March 31, 2000 are Rs. 12057.50 million, as compared to Rs.10144.60 million in the previous financial year, an increase of 18.86%. The annual income from operations are 12.19 % higher at Rs. 8114.80 million as against Rs. 72299.70 million in the financial year ending March 1999. The annual profit on sale of investments went up 560.58% from Rs. 444.20 million to Rs. 2934.30 million.
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| Wellwin net profit up 61.18% in MQ 2000, turnover rises 71.86%
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| Wellwin Industry Ltd declared its results for the quarter and half year ended March 31, 2000. The company recorded a net profit of Rs. 20.40 million for the quarter ended March 31, 2000 as against Rs. 12.65 million in MQ 99, an increase of 61.18%. The income from operations for MQ 2000 is higher by 71.86 % at Rs. 138.32 million (MQ 99 Rs. 80.49 million). Other income for the quarter ended March 31, 2000 is Rs. 3.44 million. For the half-year ended March 31,2000, Wellwin Industry Ltd's net profits increased by 65.14% at Rs. 37.46 million as compared to the corresponding period in 1999. Income from operations for HY ended March 31, 2000 also went up by 76.98% at Rs.255.46 million.
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| CMC net profit in MQ 2000 rises 43.36%, turnover up by 36.85% |
| CMC Ltd registered a net profit of Rs. 45.59 million for the quarter ended March 31, 2000 as against Rs. 31.80 million in MQ 99, a rise of 43.36%. The sales are up by 36.85 % at Rs 1672.97 million (MQ 1999 Rs. 1222.47 million). Other income for the company stood at Rs. 52.34 million (MQ 99 Rs 54.04 million). The profits for the year ended March 31, 2000 are Rs. 128.91 million, as compared to Rs.73.09 million in the previous financial year, an increase of 76.36%. The annual sales increased by 35.39% at Rs. 4579.20 million as against Rs. 3382.24 million in the financial year ending March 1999. On the paid up equity share capital of Rs. 434.61million, the EPS increased to Rs. 8.51 for the year ended March 31,2000 from Rs. 4.82 in the corresponding period last year. |
| Dynamatic Technologies net profit up 55.56% in MQ 2000 |
Dynamatic Technologies Ltd registered a net profit growth of Rs. 8.02 million for the quarter ended March 31, 2000 as against Rs. 5.16 million in MQ 99. The net sales for the quarter are up by 26.91% at Rs 126.80 million (MQ 99 Rs. 99.92 million). Other income is Rs. 0.28 million for the quarter ended March 31, 2000 (MQ 99 Rs 0.05million).The company declared an interim dividend of 20% on March 22, 2000.
Additionally, it has redeemed preference shares of Punjab National Bank amounting to Rs. 5 million on March 31, 2000.
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| Waterbase net profit up 22.82% in FY 2000 |
| At a meeting of the Board of Directors on April 27, 2000, The Waterbase Ltd reported a net profit of
Rs. 59.47 million for the year ended March 31, 2000 as against Rs. 48.42 million in FY 99. The sales are up by 12.45 % at Rs 899.46 million (FY 99 Rs. 799.89 million). Other income is Rs.1.10 million (FY 99 Rs 1.57million). On a paid-up equity share capital of Rs. 247.35 million, the basic and diluted EPS (not to be annualised) for the year ended March 31, 2000 was Rs. 2.40.
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| Hinduja Finance defers decision on swap ratio to next board meeting |
| At a meeting held on April 27, 2000, the Board of Directors of Hinduja Finance Corporation could not arrive at the swap ratio for both the mergers between Hinduja Telecom India Ltd and FASCEL Ltd and Melody Trading Private Ltd and Cable Video (India) Ltd. The decision will now be taken at the next board meeting. |
| Times Guaranty to write-off losses by reducing equity share capital |
At a board meeting held on April 27, 2000, Times Guaranty Ltd decided to write-off the accumulated losses of the company amounting to Rs. 42,96,53,000/- This would be subject to the approval of the members at the annual General Meeting to be held on June 1, 2000.
The Board of Directors of Times Guaranty has decided to reduce the subscribed equity share capital of Rs. 10/- each fully paid up to Rs. 5/- paid up, with a face value of Rs. 10/-. This would lower the subscribed equity share capital by an amount of Rs. 8,99,31,000/- The balance amount of Rs. 33,97,22,000/- would be written-off by utilising the amount lying to the credit of the share-premium account.
Further, the company will consolidate two equity shares of Rs. 10/- each, Rs. 5/- paid up to Rs. 10/- each, Rs. 10/- fully paid up.
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| KFA to consider foray into software, e -Commerce |
| At a meeting to be held on April 28, 2000, the Board of Directors of KFA Corporation Ltd will consider proposals to include the business of information technology support, information infrastructure, software development and e-commerce in their existing business portfolio. The company would effect this through an alteration of the Objects clause of its Memorandum of Association. |
| BSE imposes special margin on three scrips |
| The BSE on April 27, 2000 imposed a special margin of 25% on three scrips, namely Hitech Entertainment, Mascon Global and Sun Earth Ceramics Ltd effective April 28, 2000. |
| Ishan Dyes & Chemicals ties up with multinational for marketing products |
| Ishan Dyes & Chemicals Ltd. has entered into agreement with a multinational company for marketing its products in India and abroad. |
| Hatsun Agro to forfeit 14,000 shares |
| The Board of Directors of Hatsun Agro Products Ltd. has decided to forfeit 14,000 shares on which allotment money has not been paid. No re-allotment of forfeited shares has been made. |
| Ranbaxy to acquire Bayer's generic business in Germany |
In keeping with its strategy to enhance its presence in the Western European market for generic pharmacueticals, Ranbaxy Laboratories Ltd announced on April 27, 2000 that it would buy Bayer's German generic business. Operating as a wholly owned subsidiary, the entity would trade under the name of 'Basics GmbH'.
Bayer's German generic business has a current turnover of 4 million USD. Ranbaxy would add to Bayer's current business portfolio of 20 marketed generic products.
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| Raymond to sell its cement division to Lafarge |
| Raymond Limited entered into an agreement with Lafarge India Holding Ltd on April 27, 2000 to sell its cement division for a consideration of Rs. 7850 million. The cement division has a 2.24 MT plant at Bilaspur in Madhya Pradesh. The agreement is subject to receipt of necessary regulatory and other approvals. |
| Shrenuj & Co. net profit up 95.20% in MQ 2000, recommends 25% dividend |
Shrenuj & Company Ltd reported a net profit growth of 95.20% at Rs. 25.million for the quarter ended March 31, 2000 as against Rs. 13.05 million in MQ 99. The sales are higher by 58.65 % at Rs 569.75 million (MQ 99 Rs.359.13 million). Other income is nil for the quarter ended March 31, 2000 (MQ 99 Rs 0.04 million). The profits for the year ended March 31, 2000 are Rs. 77.99 million, as compared to Rs. 56.58 million in the previous financial year, marking an increase of 37.85%. The annual sales are up by 50.48% at Rs. 1839.28 million as against Rs. 1222.30 million in the financial year ending March 1999.
At a meeting held on April 27, 2000, the Board of Directors recommended a dividend of 25% for the financial year ended March 31,2000.
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