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Rolta India posts 42.86% growth in net profits, sales up by 64.51%

Rolta India Ltd has registered a 42.86% growth in the net profits for the quarter ended June 30, 2000 and a 64.51% growth in the turnover over the same period of the last year. The company has reported a net profit of Rs 215.32 million as against Rs 150.72 million in JQ 99. The sales for the quarter were Rs 588.84 million as against Rs 357.94 million in JQ 99. Staff cost has increased 100% from almost Rs 57 million in JQ 99 to Rs 114.09 million in JQ 2000. Interest expended during the quarter has increased 36.95 from Rs 26.66 million in JQ 99 to Rs 36.5 million JQ 2000.

Trent Ltd post Rs 41.07 million profit in JQ 2000

Trent Ltd has posted a net profit of Rs 41.07 million for the quarter ended June 30, 2000 as against Rs 36.53 million recorded for the same period in the previous fiscal. The sales for the quarter were Rs 128.22 million as against Rs 102.82 million reflecting a growth of 24.7 %. Other income for the quarter was Rs 31.73 million as against Rs 21 million in JQ 99.

Bausch & Lomb India post Rs 5.05 million profit in Q1

Bausch & Lomb India Ltd announced today (July 28, 2000) its unaudited financial results for the quarter ended June 30, 2000. The company has reported a net profit of Rs 5.05 million for the quarter ended June 30, 2000 on a turnover of Rs 170.18 million for the quarter ended June 30, 2000. The company's profits have been adversely impacted due to no exports of sunglasses in the quarter and lower off take in the domestic market. The shareholders of the company earlier during the month approved the sale of the vision care business to wholly owned subsidiary of Bausch & Lomb Inc. USA.

Sesa Goa Q1 net profit declines 75%, sales up by 7.68%

Sesa Goa Ltd has reported a 75% decline in the net profits in the quarter ended June 30, 2000 over the same period in the last year. The company registered a net profit of Rs 32.68 million for the quarter ended June 30, 2000 as against Rs 131.21 million in JQ 99. The sales for the quarter were Rs 805.35 million as against Rs 747.88 million. However the profits for the quarter were lower, primarily due to higher ocean freights and inland transport costs and a change in the sales mix. The Ocean freight increased from Rs 62.15 million in JQ 99 to Rs 177.89 million in JQ 2000.

Knoll Pharma Q2 PBT up by 35.51%, earns profit 160.5 million on sale of mutual funds

Knoll Pharmaceuticals Ltd has earned a profit before tax of Rs 143.5 million for the quarter ended June 30, 2000 as against Rs 105.9 million in JQ 99. The sales for the quarter were Rs 896.9 million as against Rs 789.6 million in the same period of the last year reflecting a growth 13.59%. The company earned a profit of Rs 160.5 million on sale during the 3/6 months ended June 30, 2000 of units held by it in Mutual funds.

BHEL Posts Rs 20.2 million net profit in JQ 2000, sales down by 24.14%

Bharat Heavy Electricals Ltd has announced a net profit of Rs 20.2 million on a turnover of Rs 9311.1 million as against Rs 162.5 million recorded on a turnover of Rs 12274.4 million in JQ 99. The company wrote off Deferred Revenue expenditure of Rs 235.6 million during the quarter as against Rs NIL in JQ 99. The net profit before writing off this expenditure is Rs 255.8 million, up by 57.42% compared to Rs 162.5 million in JQ 99. The tax provided by the company for the quarter was significantly lower at Rs 4.7 million compared to Rs 119.4 million provided in the same period of the last year.

Novartis India register 12% growth in net profits, sales up by 12%

Novartis India Ltd has reported a net profit growth of 12% for the quarter ended June 30, 2000 over the same period in the last year. The company recorded a net profit of Rs 186 million for the quarter as against Rs 166 million recorded JQ 99. The sales for the quarter were Rs 2106 million as against Rs 1879 million in JQ 99. The other income rose 24.53% from Rs 53 million in JQ 99 to Rs 66 million in JQ 2000. The Company charged Rs 44 million for depreciation in JQ 2000. Mr U.V. Rao has resigned from the Board of Directors with effect from today (July 28, 2000).

Spic Organics- Manali Petrochemicals swap ratio fixed at 1:1

The Directors of Spic Organics Ltd at its meeting held today (July 28, 2000) has approved the Scheme of Amalgamation of Spic Organics Ltd with Manali Petrochemical Ltd with a swap ratio of 1:1. The decision is subject to the approval of TIDCO and other necessary statutory approvals in this regard.

Ranbaxy announces Q1 results, posts 14.6% growth in revenues

The Board of Directors of Ranbaxy Laboratories Ltd at their meeting held today (July 27, 2000), took on record the unaudited results for the quarter ended June 30, 2000. For the quarter ended June 30, 2000, the company recorded Sales of Rs 4236 million, an increase of 14.6% over the corresponding quarter of the previous year (Rs 3695 million). Domestic sales at Rs 2321 million (Rs 1995 million) registered an increase of 16.3%. Export sales at Rs 1915 million (Rs 1700 million) registered a growth of 12.6%. R&D Expenditure was Rs 137 million (Rs 127 million), an increase of 7.9%. Profit before tax was at Rs 437 Million. (Rs 464 million), a decrease of 5.8%. Profit after tax at Rs 404 million. (Rs 427 million.) was lower by 5.4%. Both the domestic & export businesses posted impressive growth rates for the quarter. The net profit during the period was impacted due to continuing investments in international business development, particularly in Western Europe & Brazil, higher expenditure in domestic & international product launches, market inventory corrections, fall in other operating income & lower net realisation on API sales. The Company expects the working of the remaining quarters of the year to have a significantly positive impact with most of such expenditures & corrections having been completed during the first two quarters.

ICICI PAT increases 110%, shareholders equity increase 54%

The Board of Directors of ICICI Ltd at its meeting held today (July 28, 2000) approved the audited accounts of the company for the first quarter ended June 30, 2000. During Q1-2001, the profit before tax & provisions (including write-down of equity Investment) was Rs 4550 million compared to Rs 4040 million in the quarter ended June 30, 1999 (Q1-2000), resulting in a growth of 13%. Notwithstanding the enhanced provisions & write offs of Rs 1420 million in Q1-2001, compared to Rs 1150 million in Q1-2000, profit after tax in Q1-2001 increased 10% to Rs 2870 million from Rs 2620 million in Q1-2000. The profit after tax for Q1-2001 includes the impact of the following two items: a) a higher provisioning requirement of about Rs 180 million in Q1-2001 consequent to the revision of the Reserve Bank of India provisioning guidelines whereby sub-standard assets being classified as NPA instead of 24 months; and b) an additional interest expense of about Rs 80 million in Q1-2001 as ICICI redeemed a significant portion of its preference shares consequent to the increase in the distribution tax rates. Excluding the impact of these two items the profit after tax for Q1 2000 would have been Rs 3110 million an increase of 19% over Q1-2000. The operating expenses increased 25.8 % in Q1-2001 compared to Q1 2000 primarily an account of the higher expenses in respect of technology, brand building and customer servicing for deriving competitive advantage.

Apollo Tyres Q1 net profit up by 44.54%, sales rise 7.47%

Apollo Tyres Ltd has reported a 44.54% growth in the net profit and a 7.47% growth in the net sales for the quarter ended June 30, 2000 over the same period of the last year. The company has recorded a net profit of Rs 129.8 million for the quarter ended June 30, 2000 as against Rs 89.8 million reported in the same period of the last year. The sales for the quarter were Rs 3508.8 million as against Rs 3264.9 million in JQ 99. Interest expenditure for the quarter increased 10.92% from Rs 117.2 million in JQ 99 to Rs 130 million in JQ 2000. The depreciation provided for the quarter was Rs 70 million as compared to Rs 62.5 million in JQ 99.

Dr. Reddy's Q1 net profit rise 125.55%, sales up by 9.82%

Dr. Reddy's Laboratories Ltd has reported a net profit of Rs 195.93 million for the quarter ended June 30, 2000, up 125.55% compared to Rs 86.87 million reported in the same quarter of the previous year. The sales for the quarter were Rs 1385.09 million as against Rs 1261.24 million in JQ 99. The other income for the quarter was Rs 16.46 million as against Rs 3.89 million in JQ 99. The interest expenditure for the quarter increased 34.11% from Rs 32.87 million in JQ 99 to Rs 32.87 million in JQ 2000. Depreciation for the quarter increased 7.14% to Rs 44.3 million compared to Rs 41.35 million in June quarter of the previous year. The tax provided for the quarter at Rs 30 million was 200% higher compared to Rs 10 million in JQ 99.

Hindustan Lever June quarter net profit up by 26.43%, sales rise 4.61%

Hindustan Lever Ltd has reported a net profit of Rs 2.87 billion for the quarter ended June 30, 2000, a growth of 26.43% over Rs 2.27 billion reported in the same period of the last year. The company recorded net sales of Rs 28.8 billion for the quarter as compared to Rs 27.53 billion in JQ 99, representing a growth of 4.61%. For the half-year ended June 30, 2000 the sales grew 5.78% from Rs 51.94 billion to Rs 54.94 billion in the same period of the last year. Similarly the net profits grew 24.96% from Rs 4.4 billion to Rs 5.49 billion in the corresponding period of the last year. Other income for the half-year 2000-01 increased 32.53 % from 1.26 billion in first half of FY 99 to Rs 1.67 billion in first half of FY 2000.

Rhone-Poulenc post Rs 71 million net profit in Q1

Rhone-Poulenc (India) Ltd has reported a net profit of Rs 71 million for the quarter ended June 30, 2000 as against Rs 54 million in the same period of the previous year. The sales for the quarter were Rs 648.6 million as against Rs 553.8 million in the corresponding quarter of the last fiscal. Other income for the quarter was Rs 21.1 million as against Rs 16.3 million in JQ 99.

Eveready Industries incurs Rs 112.08 million loss in JQ 2000

Eveready Industries India Ltd has incurred a net loss of Rs 71.75 million for the quarter ended June 30, 2000 as against a profit of Rs 71.75 million in JQ 99. The sales for the quarter were Rs 1349.4 million as against Rs 1433.91 million in JQ 99, a decline of 5.89%. The interest expenditure for the quarter was Rs 181.98 million representing an 44.08% increase over Rs 126.3 million incurred in the same period of the previous year. Depreciation charged for the quarter was Rs 61.22 million, 12.68% higher compared to Rs 61.22 million in JQ 99.

Net Vista Information post Rs 22.64 million net profit in JQ 99

Net Vista Information Technology Ltd has reported a net profit of Rs 22.64 million for the quarter ended June 30, 2000 on a turnover of Rs 53.6 million. For the same quarter in the previous year the company earned a net profit of Rs 3.91 million on a turnover of Rs 40.75 million. The net profit for the year ended on the same date was Rs 42.79 million as against Rs 3.92 million in FY 99. The sales for the year increased 100.81% from Rs 86.4 million to Rs 173.5 million in FY99.

Tata Chemicals report net loss of Rs 37.6 million in Q1

Tata Chemicals Ltd has reported a net loss of Rs 37.6 million for the quarter ended June 30, 2000 as against a profit of Rs 65.6 million reported in the same period of the fiscal. The sales for the quarter were Rs 18.37% higher at Rs 3251.9 million as against Rs 2747.2 million representing a growth of 18.37%. Other income for the quarter is Rs 50.3 million as compared to Rs 21million in JQ 99. Depreciation charged for the quarter was Rs 334.7 million as against Rs 296.6 million in JQ 99.

VSNL Q1 net profit up by 7.83%

Videsh Sanchar Nigam Ltd has posted a net profit of Rs 3829/- million for the quarter ended June 30, 2000 as compared to Rs 3551/- million in the quarter ended June 30, 99. Net sales for the quarter ended June 30, 2000 are at Rs 16958/- million for the quarter ended June 30, 2000 as compared to Rs 16901/- million in JQ 99. Other income has grown from Rs 910/- million in JQ 99 to Rs 1553/- million in the quarter ended June 30, 2000. Interest on GDR Funds has been considered as income earned during the construction period and adjusted against carrying cost of the assets as in the past. Gross Sales for the quarter ended 30th June, 2000 are on the basis of proposed Total Accounting Rates (TAR) which are approximately 15% lower than the TAR applicable for the corresponding period in the previous year.

BASF Q1 net profit up by 26.30%

BASF India Ltd has posted a net profit of Rs 50.90 million for the quarter ended June 30,2000 as compared to Rs 40.30 million for the quarter ended June 30, 99. Net sales for the quarter ended June 30, 2000 are up by 21.42% at Rs 1067.40 million as compared to Rs 879.10 million in the quarter ended June 30, 99. Other income has grown from Rs 5.50 million in JQ 99 to Rs 11/-million in the quarter ended June 30, 2000.Crop protection chemicals business, which forms a significant portion is seasonal in nature and hence the quarterly figures are not representative of the full year.

Oriental Bank of Commerce Q1 net up by 8.16%

Oriental Bank of Commerce has posted a net profit of Rs 801.50 million for the quarter ended June 30, 2000 as compared to Rs 741/- million for the same period last year. Interest earned has increased by 24.98% for the quarter ended June 30, 2000 which stood at Rs 7091.70 million as compared Rs 5674.40 million in the quarter ended June 30,99. Other income has increased from Rs 476.80 million in the quarter ended June 30, 99 to Rs 567/- million in the quarter ended June 30, 2000. The advances have grown from Rs 75334.60 million in JQ 99 to Rs 94310.40 million in the quarter ended June 30,2000.

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