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Sandesh Ltd post 23.45% growth in net profit in Q1

Sandesh Ltd has reported a net profit of Rs 85.88 million for the quarter ended June 30, 2000 as against Rs 69.57 million in JQ 99. The sales for the quarter were Rs 307.09 million as compared to Rs 280.55 million in JQ 99. This represents a 23.45% growth in net profit and a 9.46% growth in the sales for the quarter over the same period in the previous year.

Sun Infoways enters into a MOU with Digitech group

Sun Infoways Ltd has informed BSE that it has entered into a Memorandum of Understanding with Mumbai based 20 crore Digitech Group having interest in software development areas viz, e-comm, m-commerce,CRM,client server architecture Web & Wap,Portal development,telecom software, IT enabled services with clients like Crompton Greaves, S Kumars,Jawaharlal Nehru Port, Bank of India, Forbes Gokak to acquire their R&D capabilities in wireless & telecom solution market VOIP market(which has developed significant R&D capabilities in wireless technology & product development in this segment) as a going concern with all product rights R&D infrastructure & 39 professionals in all cash deals worth $1.6 million. The acquisition would further strengthen the existing R&D base of company in areas Like WAP GPRS G-3 Bluetooth & Edge to be a major player in technology development in wireless convergence & telecom segment.

Mirza Tanners post 16.09% growth in net profits

Mirza Tanners Ltd has posted a net profit of Rs 41.05 million for the quarter ended June 30, 2000 as against Rs 35.36 million in JQ 99, a growth of 16.09%. The sales at Rs 285.04 million were 17.2% higher compared to Rs 243.2 million in JQ 99. Interest expenditure increased 60.26% from Rs 8.73 million in JQ 99 to Rs 13.98 million in JQ 2000. Tax provided during the quarter was Rs 43.05 million as against Rs 35.91 million in JQ 99.

Aptech Board decides to issue GDS aggregating US$ 86.25 million

The Committee of Directors of Aptech Ltd has decided to issue and offer 12,020,906 GDS's (including Green Shoe option) at US$ 7.175 each, aggregating to US $ 86.25 million. This is in accordance with the approval obtained from the members of the company. Each GDS represents one-half of one new equity share. The above decision was taken by the committee at its meeting held at San Francisco, USA on July 25, 2000.

Camlin Ltd Q1 net profit up by 68%, sales rise 30.83%

Camlin Ltd has registered a 68% growth in the net profits and a 30.83% growth in the sales for the quarter ended June 30, 2000. The company recorded a net profit of Rs 24.78 million as against Rs 14.75 million in the same period of the previous year. The sales at Rs 547.76 million were Rs 129.07 million higher compared to Rs 418.69 million recorded in JQ 99.

Cadila Healthcare net profit rises 85.63%, sales up by 13.48%

Cadila Healthcare Ltd has reported a net profit of Rs 203.39 million as against Rs 109.57 million reported in JQ 99. Net sales at Rs 1328.05 million were 13.48% higher compared to Rs 1170.32 million in JQ 99. During the quarter the company earned recurring other income of Rs 5.03 million (JQ 99 Rs 4.06 million) and a non-recurring other income of Rs 42.64 million (JQ 99 Rs NIL). Interest expenditure for the quarter reduced 74.62% from Rs 41.98 million in JQ 99 to Rs 10.66 million in JQ 2000.

Essel Packaging acquires tube business in Romania

Essel Packaging Ltd has informed BSE that it has acquired the laminated tube business of Ms Progresul a state owned enterprise located in Romania last week. Progresul S A is a manufacturer of paints, rubber products leather chemicals and cosmetics creams. The value of the plant is USD $ 5 millions. The deal will be financed through internal accruals.

Panacea Biotech Q1 net profit up by 61.27%, sales up by 23.1%

Panacea Biotech Ltd (Panacea) has registered a 61.27% growth in net profit and a 23.1% growth in the net sales for the quarter ended June 30, 2000. The company recorded a net profit of Rs 32.9 million on a turnover of Rs 320.8 million as against Rs 20.4 million it earned on turnover of Rs 260.6 million in corresponding quarter of last year. The company has redeemed the Preference Share Capital of Rs 26.8 million during the quarter. Panacea has acquired substantial interest in the equity share capital of Nuphar Alipro Ltd and has invested Rs 4.2 million in the equity share capital of Panhebar Biotec Ltd.

Mascot Systems report net profit of Rs 64.59 million in Q1

Mascot Systems Ltd which had recently completed its IPO at Rs 480/- per equity share having face value of Rs 4/- each has reported a net profit of Rs 64.59 million for the quarter ended June 30, 2000. The sales for the quarter were Rs 648.75 million and the company earned other income of Rs 21.63 million in JQ 2000. The company earned Rs 12.68 million as interest on deployment of unutilized funds raised from public issue.

ICI Q1 net profit down by 30.77%

ICI India Ltd has reported a net profit of Rs 138.80 million for the quarter ended June 30, 2000 as compared to Rs 200.50 million in the same period last year. The net sales for the quarter ended June 30,2000 are down by 9.59% at Rs 2091/- million as compared to Rs 2312.90 million for the quarter ended June 30, 99. Other income has grown from Rs 8/- million in JQ 99 to Rs 15.90 million in the quarter ended June 30,2000. Explosives business was transferred to Indian Explosives, a subsidiary of the company on September 29, 1999 hence the figures for the quarter are not comparable. In the area of Paints, gross margins were squeezed, as significant raw material price increases could not be recovered from the market. Additionally, the business increased its investment in market development, promotion and channel rationalisation. The Rubber Chemicals business continued to deal with the ongoing pressure on prices and product portfolio rationalisation in order to focus on the specialties range, Nitrocellulose, Synetix, National Starch, Polyurethanes, Pharmaceuticals, Uniqema, Trading & Acrylics continue to perform very strongly with most of them registering double digit growths. ICI India results for the first quarter of 2000-2001 reflect the ongoing restructuring and revamping consistent with its strategy to focus on chosen specialty products. The Rishra unit, housing a Paints factory and Rubber Chemicals, is being restructured with selective focus on chosen speciality products.

Logix Microsystems net profit and revenue grow 48%

Bangalore based Logix Microsystems Ltd has reported a net profit growth of 48.24% and a growth of 48.08% in the operating income for the quarter ended June 30, 2000 over the corresponding quarter of the previous year. This software company recorded a net profit of Rs 10.44 million on a turnover of Rs 42.99 million in JQ 2000 as against Rs 7.04 million in JQ 99 on a turnover of Rs 29.03 million. The company's shares got listed on the Bombay Stock Exchange on July 03, 2000 and will be traded in demat form from July 24, 2000. The company has established its second office in the USA at San Francisco in July 2000.

Global Tele-Systems net profit at Rs 1623.79 million, acquires Thermax Systems & Software and Fine Infotech

Convergence major Global Tele-Systems Ltd (GTL) has reported a net profit of Rs 1623.79 million for the quarter ended June 30, 2000. Of this net profit, Rs 1319 million is from the conversion of NCD's worth Rs 1800 million into equity shares of Global Electronic Commerce Services Ltd (GECL) at a base price of Rs 200/- (held as investment by GTL). The company has treated this income as extra-ordinary being profit on sale on investment (net of tax and expenses). The company recorded sale of Rs 1050.4 million reflecting a growth of 35.04% over Rs 777.87 million reported in the same period of the last year. The profits excluding the profit on sale of above-mentioned investments were Rs 304.79 million as against Rs 130.01 million representing a growth of 134.44%. The company earned other income of Rs 84.21million of which Rs 75 million was interest income generated from investment of cash generated from operating activities, sale of shares of GECL etc... The Company has in the second quarter of this FY 2000-2001, divested its entire shareholding in GECL resulting in an additional gross profit of Rs 392.3 million. This profit will be reflected net of expenses and taxes in the second quarter of FY 2000-2001. The Board of Directors of the Company in its meeting held on July 25,2000, approved acquisition /merger of Thermax Systems and Software Ltd (TSSL) and Fine Infotech Ltd (FIL) with GTL. TSSL is engaged in software consultancy and software development. It has achieved a turnover of Rs 52.9 million and enabled a group company to generate revenue of Rs 75 million (GTL will acquire both these revenue streams) and a net profit of Rs 14.8 million for the F.Y.1999-2000. The purchase consideration for the acquisition / merger is 100,000 equity shares of GTL having a face value of Rs.10/- per share. Upon issue of these shares, GTL's share capital will go up by One million Rupees. FIL has expertise in systems and banking software. FIL achieved a turnover of Rs 10.2 million and a net profit of Rs 0.77 million for the FY 1999-2000. The purchase consideration for the acquisition / merger is 50,000 equity shares of GTL having face value of Rs.10/- per share. Upon issue of these shares, GTLs share capital will go up by Rs 0.5 million. This valuation includes Business/Software development premises, contracts and business relationships on hand with FIL. The skill level possessed by these two Companies, their existing customer relationship, software development tools and capabilities are expected to enhance GTL capabilities to deliver application and software service solutions.

Crompton Greaves Q1 net loss higher by 62.74%

Crompton Greaves Ltd has posted a net loss of Rs 674.70 million for the quarter ended June 30, 2000 as compared to a net loss of Rs 414.60 million in the same period last year. The net sales for the quarter ended June 30, 2000 are down by 21.20% at Rs 2242.20 million as compared to Rs 2845.30 million in the quarter ended June 30, 99. Other income has grown from Rs 3.70 million in JQ 99 to Rs 24.90 million in the quarter ended June 30, 2000.The Company has entered into an Agreement for disposal of its Low Tension Control Gear Division at Satpur Nasik. The said Agreement is subject to approval of Members and other approvals.

Hindustan Inks Q1 net profit up by 21.99%, declares bonus in the ratio of 1:1

Hindustan Inks & Resins Ltd has posted a net profit of Rs 74.90 million for the quarter ended June 30, 2000 as compared to Rs 61.40 million for the same period last year. Net sales for the quarter ended June 30, 2000 are up by 40.76% at Rs 613.70 million as compared to Rs 436/- million for JQ 99. Other income has increased from Rs 0.60 million in JQ 99 to Rs 5.20 million in the quarter ended June 30, 2000. The Board of Directors of Hindustan Inks & Resins Ltd has recommended issue of Bonus Shares in the ratio of one share for one share held in the Company by capitalisation of Reserves. These shares shall rank pari passu in all respects with the existing fully paid equity shares and shall be entitled to participate in full in dividend, if any declared relating to the current year. The net profit for the quarter ended June 30, 2000 grew only by 21.99% despite increase in sales by 40.76% due to aggressive marketing and passing on cost advantages to domestic customers with a view to increase market share Trial shipments to USA have commenced. However, evaluation and increase in business would still take some more time. Steady progress has been made in the project in USA and the company expects to commence operations in USA towards the end of 2000. Investment in Flushed Colours, pigments and high performance Resins are at an advanced stage and the commissioning of these plants would take place soon.

Marico Industries net profit grow 95.85%, sales up by 8.71%

Reduced expenditure has helped Marico Industries Ltd post a net profit growth of 95.85% in the quarter ended June 30, 2000 over the same period of previous year. The company posted a net profit of Rs 118.2 million JQ 2000 as against Rs 60.35 million for JQ 99. The sales for the quarter were Rs 1468.15 million as against Rs 1350.48 million in JQ 99, a growth of 8.71%. The raw material costs including stock adjustments, of the company declined 7% from Rs 951.19 million in JQ 99 to Rs 888.642 million in JQ 2000. The company expended Rs 9.99 million for interest as against Rs 1353.2 million in JQ 99. Depreciation charge went up 87.89% from Rs 14.95 million in JQ 99 to Rs 28.09 million in JQ 2000. The advertisement and sales promotion expenditure increased 31% from Rs 109.79 million in JQ 99 to Rs 143.71 million in JQ 2000.

KSB Pumps Q1 net profit falls by 87.45%

KSB Pumps Ltd has posted a net profit of Rs 3.40 million for the quarter ended June 30, 2000 as compared to Rs 27.10 million for the same period last year. Net sales for the quarter ended June 30, 2000 are down by 13.08% at Rs 434.50 million as compared to Rs 499.90 million in the quarter ended June 30, 99. Other income has increased from Rs 8.30 million in JQ 99 to Rs 20.30 million in the quarter ended June 30, 2000.

Telco Q1 net loss at Rs 743.40 million

Tata Engineering & Locomotive Company Ltd has posted a net loss of Rs 743.40 million for the quarter ended June 30, 2000 as compared to a net loss of Rs 335.30 million for the same period last year. Net sales for the quarter ended June 30, 2000 are up by 14.10% at Rs 18029.20 million as compared to Rs 15801 million for the same period last year. Other income has risen from Rs 38.40 million in JQ 99 to Rs 284.60 million in the quarter ended June 30,2000. Commercial vehicles sales recorded a fall of 4% in the current period mainly on account of adverse impact of sales tax equalization moves initiated by all the states. The Company launched a EURO II compliant Petrol Indica with Multi Point Fuel Injection (MPFI), which will help the Company in consolidating its market share in the petrol segment. The Company's Early Separation Scheme (ESS) aimed at improving productivity levels received a satisfactory response and has so far led to a reduction of around 2800 employees. The Company is also vigorously pursuing various initiatives in the areas of cost reduction and improvement in operating efficiencies.

Abbott Lab Q1 net profit up by 51.57%

Abbott Laboratories Ltd has posted a net profit of Rs 16.47 million for the quarter ended June 30, 2000 as compared to Rs 10.87 million for the same period last year. The net sales for the quarter ended June 30, 2000 are up by 19.08% at Rs 286.84 million as compared to Rs 240.88 million for the same period last year. The interest costs have fallen from Rs 6.75 million in JQ 99 to Rs 1.38 million for the quarter ended June 30, 2000.

South Indian Bank Q1 net profit at Rs 131.90 million

South Indian Bank Ltd has reported a net profit of Rs 131.90 million for the quarter ended June 30, 2000 as compared to Rs 21.10 million in the same period last year.Interest earned has increased from Rs 1097.40 million in JQ 99 to Rs 1298.10 million for the quarter ended June 30, 2000. Other income for the quarter ended June 30, 2000 is at Rs 189.60 million as compared to Rs 114.60 million in the same period last year. Provisions & Contingencies for the quarter ended June 30,2000 have increased by 117.11% at Rs 156.10 million as compared to Rs 71.90 million for the quarter ended June 30,99.

Navneet Publications Q3 net up by 25.02%

Navneet Publications India Ltd has posted an increase of 25.02% in net profits for the quarter ended June 30, 2000 at Rs 195.51million as compared to Rs 156.38 million for the same period last year. Net sales for the quarter ended June 30, 2000 are up by 18.40% at Rs 1025.54 million as compared to Rs 866.18 million Other income for the quarter ended June 30, 2000 is at Rs 1.06 million (JQ 99 other income was nil). Navneet has initiated internet based school partnership programme, through the website "connectschool.com" through its wholly owned subsidiary Navneet Edutainment Ltd. In view of the seasonal nature of business the financial results of this quarter of the year are not representative of the operations of the company for the year as a whole.

Foods & Inns Q1 net profit down by 48.45%, sales down by 5.22%

Foods & Inns Ltd has posted a fall of 48.45% in net profits for the quarter ended June 30, 2000 at Rs 1.73 million as compared to Rs 3.36 million for the same period last year. Net sales for the quarter ended June 30, 2000 are down by 5.22% at Rs 92.52 million as compared to Rs 97.62 million for the quarter ended June 30, 99. Other income has increased from Rs 1.03 million in JQ 99 to Rs 1.18 million in the quarter ended June 30, 2000. Due to steep increase in the Raw Material prices, the profitability for this quarter has been adversely affected. The Companys business is seasonal in nature, & the first quarter earnings are not representative of the yearly earnings of the Company.

Atlas Cycle Q1 net profit up by 4.69%

Atlas Cycle Industries Ltd has posted a net profit of Rs 20.10 million for the quarter ended June 30, 2000 as compared to Rs 19.20 million for the same period last year. The total income for the quarter ended June 30, 2000 is up by 7.82% at Rs 894.70 million as compared to Rs 829.80 million for the quarter ended June 30, 99.

L&T to take final decision of its stake in cement division after Investment Bankers advice

With reference to news item appearing in a financial daily "L&T to hold 51% stake in cement division" Larsen & Toubro Ltd has informed BSE that at the analyst meet the CEO had mentioned that the company desires to retain operational control of the demerged cement business. However the final decision on shareholding pattern will be taken after the Investment Bankers have examined all the issues.

HDFC clarifies on news item

With reference to the news item appearing in a financial daily "HDFC hits home run, bags nod for 19% foreign stake in insurance JV" Housing Development Finance Corporation Ltd. has informed BSE that as on date the company has not made any application seeking approval of shareholding by a foreign insurance company in their proposed life insurance company. HDFC has also stated that the company has not directly received any communication or approval from any authority on the above matter.

BSE imposes special margin on Vital Communications

BSE has imposed special margin in the under mentioned scrip is imposed as mentioned alongside with effect from Tuesday, July 25, 2000. Sr No Scrip Code Scrip Name Scrip Group Special Margin Per Share (%) 1. 32325 VITAL COMMUNICATIONS LTD B2 25%

Novartis India shareholders approve demerger of Agribusiness, face value to be reduced

Novartis India Ltd.has informed BSE that shareholders of the company has approved the Recommendation of the Board of Directors to demerge the company's Agribusiness comprising Crop Protection and Seeds business into a separate legal entity. The Bombay High Court will now be approached for approval of the Scheme of Arrangement. Under the scheme the face value of an equity share of the company will be reduced from Rs.10/- to Rs.5/. each Shareholders will also receive one equity share of Rs.5/- fully paid-up in the demerged Agribusiness entity for each fully paid-up equity share held by them in the company. Both entities will be listed on the Stock Exchange.

SB&T International Q1 net profit up by 122.23%

SB&T International Ltd has posted a net profit of Rs 14.42 million for the quarter ended June 30, 2000 as compared to Rs 6.49 million in the same period last year. The net sales for the quarter ended June 30, 2000 are up by 103.73% at Rs 267.34 million as compared to Rs 131.22 million for the quarter ended June 30, 99. Pursuant to the approval of the Shareholders obtained at the Extraordinary General Meeting held on 24.03.2000, the Directors have allotted 52,00,000 Equity Shares of Rs 10/- each at a premium of Rs 20/- per share on a Preferential Basis.

Zee Tele plans of acquiring equity stake in Asianet still on

ZEE Telefilms Ltd has informed the BSE that the deal of acquiring equity stake in Asianet as reported in a financial daily is correct. Certain legal issues which have cropped up during the legal due diligence are being sorted out and the deal is still on course.

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