Bhagyanagar Metals Q2 net up by 4.41%

Bhagyanagar Metals Ltd has posted a net profit of Rs 19.04 million for the quarter ended September 30, 2000 as compared to Rs 18.24 million for the same period last year. Net sales for the quarter ended September 30, 2000 are at Rs 474.03 million as against Rs 355.55 million in SQ 99. Other income has increased from Rs 0.95 million in SQ 99 to Rs 2.47 million in the quarter ended September 30, 2000. Sales in the 1st half year are low as orders have been received from DOT only at the end of August 2000.

Bharat Forge Q2 net profit down by 26.26%

Bharat Forge Ltd has posted a net profit of Rs 133.90 million for the quarter ended September 30, 2000 as compared to Rs 181.60 million for the quarter ended September 30, 99. Net sales for the quarter ended September 30, 2000 are at Rs 1319.90 million as compared to Rs 1458.60 million in SQ 99. Other income has decreased from Rs 17.4 million in SQ 99 to Rs 6.10 million in the quarter ended September 30, 2000. Interest expenditure has increased from Rs 101.50 million in SQ 99 to Rs 148.40 million. The increase in interest and depreciation is largely on account of commercialisation of second Forging Press Line on March 27,2000. The Board in its meeting on September 15, 2000 has decided to demerge with effect from March 01, 2001, the non-core businesses of the Company and in pursuance thereof, an application to the Mumbai High Court has been made. The demerger will entail, upon approval of shareholders and of various authorities, allotment of shares without any payment in the resulting Company to the shareholders of Bharat Forge Limited.

Paramount Communications expects sales of Rs 200 crores for FY 2001

Paramount Communications Ltd has recently bagged an order worth Rs 120 crores from Department of Telecommunication (DOT) for the supply of jelly telecom cables within the current financial year itself. On the basis of this order & other expected orders from DOT & other private as well as Public Sector companies ,Paramount Group hopes to close the current financial year with the total turnover of over Rs 200 crores after considering the expected revenues of Rs 20 crores for the newly setup plant of its subsidiary company M/S Paramount Wires & Cables Ltd.For the fiscal year ended 31st March 2000 company's Total Turnover was Rs 130 crores. Paramount manufactures the complete range of telecom cables including the installation for electronic telephone exchange jelly filled telephone cables for the external plant as also the subscriber's premises cable and switchboard cables for terminal equipment. Paramount is the only company which offers the 'Total Telecom Cable Solutions' for laying of telecom network.

Vikas WSP Q2 net profit up by 61.71%

Vikas WSP Ltd has posted a net profit of Rs 260.71 million for the quarter ended September 30, 2000 as compared to Rs 161.22 million in the same period last year. Net sales for the quarter ended September 30,2000 are at Rs 725.79 million as compared to Rs 523.41 million in the same period last year. Other income for the quarter ended September 30, 2000 is at Rs 0.87 million as compared to Rs 0.83 million in the quarter ended September 30, 99. The company is holding export orders in hand for an approximate value of Rs 662/- million. The Board of Directors of the company at its meeting held today (October 14, 2000) has accepted the resignation of two Promoter Directors as mentioned below: 1. Shri J D Agarwal 2. Shri B M Jindal After the acceptance of resignation of Mr J D Agarwal Managing Director the Board has decided that Mr B D Agarwal should officiate the office of Chairman and Managing Director pending shareholders approval in the eventual Extra Ordinary General Meeting (EGM).The management is in the process of induction of two Professional Directors.

Orient Information Q2 net profit up by 142.65%, sales up by 94.02%

Orient Information Technology Ltd has posted a net profit of Rs 49.60 million for the quarter ended September 30, 2000 as compared to Rs 20.44 million in the corresponding quarter of the same period last year. Net sales have increased from Rs 100.55 million in SQ 99 to Rs 195.09 million in the quarter ended September 30, 2000. Other income for the quarter ended September 30, 2000 is at Rs 10.06 million as compared to nil in the corresponding quarter of the same period last year.

UTI Bank to consider ESOP

UTI Bank Ltd has informed BSE that at the meeting of the Board of Directors of the bank scheduled to be held on October 18, 2000 the board is likely to consider offering Employee Stock Option Plan to its employees and Directors. The above offer will be subject to approvals of the shareholders of the Bank and also Regulatory Authorities.

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