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May 26, 2000
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| Rallis India MQ 2000 profit increase 202%, FY 2000 net profit declines 10% |
Rallis India Ltd, a Tata Group Company has declared encouraging results for the quarter ended March 31, 2000. The profits for the quarter are 201.67% higher than that of the corresponding quarter in the previous financial year. The profits for the quarter ended March 31, 2000 stood at Rs 90.20 million as against Rs 29.90 million in MQ 99. The sales were 15.19% higher at Rs 3621.10 million (MQ 99 Rs 3143.60 million).
However in contrast to the quarterly result the profits for the year ended March 31, 2000 are 10.32% lower at Rs 245.80 million as compared to Rs 274.10 million in FY 99. The sales at Rs 14325.10 million are 14.04% higher than Rs 12561.90 million recorded in FY 99.
The company has attributed the lower net profits for the year (inspite of a credible performance in pesticides and pharmaceuticals) to the substantial increase in interest burden and the customs duty hike in fertilisers accompanied by a reduction in their subsidies.
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| Gesco Corporation net profit at Rs 51.39 million, income at Rs 165.78 million |
Gesco Corporation Ltd (Gesco) today announced the results for the period from March 16, 1999 to March 31, 2000. The company has recorded a net profit of Rs 51.39 million on a turnover of Rs 165.78 million for the period ended March 31, 2000. The other income for the year was Rs 59.66 million. The gross profit before depreciation and taxation stood at Rs 117 million.
During the period the High Court at Bombay approved the arrangement entered into between Gesco and Great Eastern Shipping Co. Ltd and their shareholders. In terms of the scheme Gesco has taken over the assets and liabilities pertaining to the business activity of managing, developing, and operating of commercial properties of the property division of G E Shipping as a going concern. As per the scheme Gesco allotted 28,760,134 equity shares to the shareholders of G E Shipping in the ratio of one share of Gesco for every ten shares held in GE Shipping.
The Board of Directors of the company have recommended a dividend at the rate of 10% (Re 1/- per share) for the period ended March 31, 2000. |
| Tata-Yodogawa net profit declines 21.52%, PBDT up 12.84% |
| Tata Yodogawa Ltd has registered a 12.52% decline in its profits for the year ended March 31, 2000. The profits for the year stood at Rs 46.80 million as against Rs 53.50 million in the last financial year. The profits before Depreciation and taxes were however 12.84% higher at Rs 152 million as against Rs 134.70 million in FY 99. While the depreciation charges for the year was Rs 55.30 million (FY 99 Rs 46.70 million) the provision for taxation was 70.25% higher at Rs 26.90 million against Rs 15.80 million in FY 99. The sales for the year have grown 15.52% from Rs 755.90 million in FY 99 to Rs 873.20 million in the year under review. |
| GNFC FY 2000 net profit down by 16.08% at Rs 661.10 million |
Gujarat Narmada Valley Fertilizers Ltd has announced a net profit of Rs 661.10 million for the year ended March 31, 2000 as compared to Rs 787.80 million for FY 99. The total income for FY2000 is up by 4.20% at Rs 12419.40 million. The interest expenses have increased from Rs 729.20 million in FY 99 to Rs 805.70 million in FY 2000.
The Board of Directors of GNFC has recommended a final dividend of 5% for the financial year 1999-2000. |
| Manali Petrochemicals Board meet for amalgamation proposal postponed |
| The Board meeting of Manali Petrochemicals Ltd to consider the Audited financial results for the year ending March 31, 2000 and to consider the proposal for amalgamation of SPIC Organics Ltd with the company has been postponed for further consideration. The results and the amalgamation proposal will be considered at Boards next meeting. |
| Ador Multiproducts FY 2000 net profit at Rs 1.03 million |
| Ador Multiproducts Ltd has announced a net profit of Rs 1.03 million for the year ended March 31, 2000 as compared to Rs 0.62 million for FY 99. The sales for FY2000 are up by 9.09% at Rs 88.26 million. Other income for FY 2000 is Rs 0.80 million (FY 99 Rs 0.39 million). |
| Williamson Financial FY 2000 net profit at Rs 12.23 million |
| Williamson Financial Services Ltd has announced a net profit of Rs 12.23 million for the year ended March 31, 2000 as against a loss of Rs 15.16 million for FY 99. The income from operations for FY2000 is up by 5.20% at Rs 76.69 million. Other income for FY 2000 is Rs 4.17 million (FY 99 Rs 0.34 million). |
| German Remedies FY 2000 net profit up 19.02% at Rs 324.04 million
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German Remedies Ltd has announced a net profit of Rs 324.04 million for the year ended March 31, 2000 as compared to Rs 272.25 million for FY 99. The sales for FY2000 are up by 11.66% at Rs 2232.01 million Other income for FY 2000 is Rs 28.74 million (FY 99 Rs 28.45 million).
In addition to the interim dividend of 70% already paid the company has recommended a final dividend of 20% for the financial year 1999-2000. |
| Advani-Oerlikon FY 2000 net profit down by 46.09% at Rs 50.30 million
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| Advani-Oerlikon Ltd has announced a net profit of Rs 50.30 million for the year ended March 31, 2000 as compared to Rs 93.30 million for FY 99. The sales for FY2000 are down by 15.04% at Rs 1749.50 million. Other income for FY 2000 is Rs 40.20 million (FY 99 Rs 47.30 million).
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| Dutron Polymers FY 2000 net profit at Rs 6.17 million
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| Dutron Polymers Ltd has announced a net profit of Rs 6.17 million for the year ended March 31, 2000 as compared to Rs 5.97 million for FY 99. The sales for FY2000 are up by 30.81% at Rs 164.46 million. Other income for FY 2000 is Rs 0.24 million (FY 99 Rs 0.07 million).
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| Marico declares 40% interim dividend
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| The Board of Directors of Marico Industries Ltd at its board meeting held today (May 26, 2000) has declared an interim dividend of 40% (Rs 4/- per share) on its equity shares for the financial year 2000-2001 The record date for the aforesaid dividend is August 18, 2000. |
| Kalyani Sharp FY 2000 net profit at Rs 73.06 million
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| Kalyani Sharp India Ltd has reported a net profit of Rs 73.06 million for the year ended March 31, 2000 as compared to Rs 56.96 million for FY99. The sales for FY 2000 are up by 15.49% at Rs 3333.16 million. Other income is Rs 59.91 million (FY 99 Rs 12.62 million). |
| Transcon Research MQ 2000 net profit at Rs 0.21 million
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| Transcon Research and Infotech Ltd has reported a net profit of Rs 0.21 million for the quarter ended March 2000 as compared to Rs 0.64 million for MQ 99. The sales for MQ 2000 are up by 20.75% at Rs 2.63 million. The profits for FY 2000 are at Rs 3.07 million as compared to Rs 2.71 million for FY 99.The sales for FY 2000 are up by 48.64% at Rs 9.54 million.
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| Gordon Herbert allots equity shares on preferential basis at Rs 54 per share |
| At its meeting held today (May 26, 2000) the Committee of Directors of Gordon Herbert (India) Ltd has made the preferential allotment of 1,00,000 equity shares of Rs10/- each fully paid up for a premium of Rs 44/- per share aggregating to Rs 54,00,000 on private placement basis to M/s Selectronic Equipment & Services Pvt Ltd in accordance with Sebi's guidelines on preferential allotments.
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| Hindustan Powerplus FY 2000 net profit at Rs 62.28 million
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| Hindustan Powerplus Ltd has reported a net profit of Rs 62.28 million for the year ended March 31, 2000 as compared to Rs 58.60 for FY99. The sales for FY 2000 are down by 2.81% at Rs 1576.36 million. Other income is Rs 97.32 million (FY 99 Rs 68.88 million).
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| Parekh Platinum 18 months profits at Rs 102.11 million
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Parekh Platinum Ltd has reported a net profit of Rs 102.11 million for 18 months period ended March 31, 2000. The sales for the same period are at Rs 5692.79 million and the other income is Rs 9.77 million. The profits for the previous year ended on September 1998 (12 months) were Rs 147.13 million and the sales for the same period were Rs 4020.83 million.
The company has commenced the state of the art jewellery project at Bhat near Ahmedabad set up with an outlay of Rs 1100 million. The plant has become fully operational. The company is promoting a unique portal with e-commerce services thereby laying down a strong technology in e-commerce & internet field for marketing of jewellery, precious metal products mainly for both industrial and consumer division of the company. The portal will provide both B2B & B2C services.
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| Omega Interactive FY 2000 net profit at Rs 52.55 million
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Omega Interactive Technologies Ltd has registered a net profit of Rs 52.55 million for the year ending March 31, 2000 as compared to Rs 2.28 million earned in FY 99. The major part of the revenues flowed from the sale of its portal business to a 100% subsidiary Omega Portals Ltd. The said business was transferred at a lumpsum consideration of Rs 50 million. The income from software development was Rs 14.40 million of which Rs 13.71 million came from exports. The financial activities generated revenues of Rs 1.79 million as compared to Rs 5.02 million in the last financial year. The total expenditure incurred during the year was Rs 11.99 million against Rs 4.84 million incurred last year.
The Company claims to have successfully commenced medical transcription operations and has signed contracts for live medical transcription. The Company has also tied up with South Cost College USA for training and examining in Medical Trascription. The Company has obtained permission from the RBI for opening an office in U.S.A. at New York. This office is has began operations since January 2000.
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| Timex Watches Operating Profit at Rs 52.91 million, Turnover up by 36%
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Timex Watches Ltd, a subsidiary of Timex Watches B.V, has reported a improved performance in the operations for the year ending March 31, 2000. The company recorded an operating profit of Rs 52.91 million for the year ending March 31, 2000 as compared to Rs 3.68 million in the last financial year. The gross sales for the year were Rs 904.82 million registering a 36% growth over Rs 665.20 million of sales in the year ending March 13, 1999. The other income for the year was Rs 14.60 million (FY 99 Rs 17.36 million). The Gross loss for the year was 41.54% lower compared to gross loss of Rs 98.45 million incurred in FY 99.
The net loss for the quarter ended March 31, 2000 was 50.86% lower at Rs 17.55 million against Rs 35.71 million in MQ 99. The sales were 22.74% higher at Rs 342.84 million as against Rs 279.32 million in the same period of the last financial year.
The Board of Directors of Timex Watches has approved the preferential issue of equity shares in favour of Timex Watches B.V, the promoter company, for a rupee equivalent to US$ 5 million. This is in addition to the equity infusion of rupee equivalent to US$ 2.5 million made in March, 2000. The company's accumulated losses as on March 31, 2000 exceeded 50% of its net worth. The fresh infusion of Capital will help the company to reduce its reliance on borrowings, interest expenditure, and is likely to improve its net worth.
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| Kinetic Fincap Q4 2000 net profit at Rs 9.62 million
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Kinetic Fincap Ltd has declared a net profit of Rs 9.62 million for the quarter ended April 2000 as compared to Rs 6.54 million for the quarter ended April 99.The income from operations for the quarter ended April 2000 is up by 9.14% at Rs 116.45 million. Other income is Rs 2.21 million for quarter ended April 2000 as compared to Rs 1.25 million for the quarter ended April 99.
The profits for the year ended April 2000 are up 21.59% at Rs 30.65 million. Income from operations is up 8.31% at Rs 434.79 million for the year ended April 2000.Other income is Rs 16.51 million for the year ended April 2000 as compared to Rs 10.82 million for the year ended April 99.
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| Wipro Technologies announces strategic tie up with Open Market to provide E-Business Solutions |
Wipro Technologies, a global provider of IT services for the enterprise and technology markets and Open Market Inc, a leader in integrated enterprise e-business solutions, have announced a strategic relationship through which Wipro will use Open Market's e-business suite to provide systems integration services focused on e-business transformation.
Under the terms of the agreement, Wipro will create a business development strategy for Open Market's products in e-marketing, personalization and content and commerce management. Working closely with Open Market to identify customers and opportunities Wipro will deliver e-business solutions to Fortune 1000 companies.
Founded in Burlington, in 1994 Open Market has a presence in 31 countries and offers an integrated set of open, scaleable applications that enable enterprises to build dynamic, personalized revenue sharing websites that are cost effective, easy to manage and quickly adapt to changing business requirements .The list of Open Market's global customers include Lycos.com, AOL.com, Lucent Technologies, Chase Manhattan Bank, Acer, Ingram Micro, Milacron, Siemens and 10 of the world's top 13 national telephone companies.
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| Asian Hotels FY 2000 Net Profit down by 22.57% at Rs 361.50 million |
| Asian Hotels Ltd has reported a net profit of Rs 361.50 million for the year ended March 31, 2000 as compared to Rs 466.90 million for FY 99.The sales have declined from Rs 1359.50 million in FY 99 to Rs 1158.80 million in FY 2000. Other income is Rs 57.10 million (FY 99 Rs 59.30 million) |
| IDL Industries FY 2000 net profit at Rs 50.83 million |
| IDL Industries Ltd has reported a net profit of Rs 50.83 million for the year ended March 31, 2000 as compared to Rs 50.25 million for FY 99.The sales have increased by 6.63% from Rs 1424.74 in FY 99 million to Rs 1519.14 million in FY 2000. Other income is higher by 82.07% at Rs 60.50 million for FY 2000. |
| Super Spinning FY 2000 net profit up by 32.91% at Rs 42/- million
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| Super Spinning Mills Ltd has reported a net profit of Rs 42/- million for the year ended March 31, 2000 as compared to Rs 31.60 million for FY 99. The sales have increased from 1659.40 million in FY 99 to Rs 1814.20 million in FY 2000. Other income is Rs 8.70 million (FY 99 Rs 8.80 million). |
| JSL Industries MQ 2000 net profit at Rs 2.31 million
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JSL Industries Ltd has reported a net profit of Rs 2.31 million for the quarter ended March 31, 2000 as compared to Rs 2.62 million for MQ 99.The sales have increased from Rs 36.71 million in MQ 99 to Rs 44.09 million in MQ 2000. Other income is Rs 0.38 million (MQ 99 Rs 0.15 million).
The profits for the year ended March 31, 2000 are lower by 52.27% at Rs 2.34 million. Sales for the year ended March 31, 2000 are at Rs 153.25 million as compared to Rs 139.02 million in FY 99.
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