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| Shasun Chemicals Q2 net profit down by 25.17% |
| Shasun Chemicals And Drugs Ltd has posted a net profit of Rs 33.80 million in the quarter ended September 30,2000 as compared to Rs 45.50 million in SQ 99. Net Sales for the quarter ended September 30, 2000 are at Rs 424.40 million as compared to Rs 428.90 million in the corresponding period last year. Other income for SQ 2000 is at Rs 32.70 million as compared to Rs 24.40 million in SQ 1999. |
| ACC Q2 net loss at Rs 155.30 million |
Associated Cement Companies Ltd has posted a net loss of Rs 155.30 million for the quarter ended September 30, 2000 as compared to a net profit of Rs 16.70 million in the corresponding period last fiscal. Net Sales for the quarter ended September 30, 2000 are at Rs 6745.10 million as compared to Rs 6289.70 million for SQ 99. Other income for the quarter ended September 30, 2000 is at Rs 243.50 million as compared to Rs 252.90 million in SQ 99.
The outlook for the industry for the near term continues to be challenging. Notwithstanding the same,the industry is surely and steadily marching towards a balance in demand/supply position and it is expected to see an improvement in the cement prices sooner than later.Simultaneously,the company is continuing to relentlessly pursue its cost cutting initiatives and it is expected that these efforts will held to acheive improved results as compared to the past.
The modernisation and expansion of Chanda and Madulkkarai cement plants for increasing their capacities to around to around 1 MTPA each has been completed and the plants commenced commercials production from Sept 1, and October 1, 2000 respectively
The new Wadi Plant project of 2.0 MTPA is under implementation and is progressing as per plans. |
| Silverline to consider acquisition of a US based company |
| A meeting of the Board of Directors of Silverline Technologies Ltd will be held on October 25, 2000 in USA to consider the acquisition of a US based Nasdaq listed company. |
| M&M Q2 net profit down by 78.17% |
| Mahindra & Mahindra Ltd has posted a net profit of Rs 131.76 million for the quarter ended 30th September, 2000 as against Rs 603.73 million in the quarter ended 30th September, 99. Net sales for SQ 2000 stood at Rs 8399.42 million as compared to Rs 8261.54 million in SQ 99. Other income increased to Rs 242.05 million in the quarter ended September 30, 2000 from Rs 149.92 million in the same period previous year. |
| ITC Q2 net profit up by 21.72% |
ITC Ltd has posted a net profit of Rs 2516.5 million for the quarter ended September 30, 2000 as against Rs 2067.4 million for the corresponding period last fiscal. Net sales for SQ 2000 increased to Rs 10028.9 million as compared to Rs 9444.8 million in SQ 99. Other income for the quarter ended 30th September, 2000 stood at Rs 385.8 million as against Rs 358.1 million for the same priod last year.
Consequent to the restructuring of the Companys IT business, approved by the shareholders of the company on 28th July, 2000, ITC Infotech India Limited became a wholly owned subsidiary of the Company effective 21st August, 2000 following purchase of its entire share capital by the Company. During the quarter ended September 30, 2000, the Company further invested Rs.100 million in the share capital of ITC Infotech India Ltd.
The Company has set up the Lifestyle Retailing Business Division during SQ 2000. It has also set up a Strategic Business Unit for the greeting cards business under the Packaging and Printing Division. |
| Novartis Q2 net at Rs 216.50 million |
Novartis India Ltd has posted a net profit of Rs 216.5 million for the quarter ended September 30, 2000 as against Rs 323.8 million in the quarter ended September 30, 1999. Net sales for SQ 2000 stood at Rs 2168.3 million as compared to Rs 2366.4 million in SQ 99. Other income for SQ 2000 declined to Rs 97.1 million from Rs 99.4 million in the similar period previous year.
The Bombay High court vide its order dated 12th October, 2000 has approved the scheme of Arrangement for demerger of agribusiness Undertaking consisting of Agrochemicals and Seeds business to a separate legal entity which has been renamed Syngenta India Limited.Both the compnanies are in the process of implenting the court order which is expected to be completed by second week of November 2000.
On Implementation of the Scheme,the paid-up share capital of the Company will stand reduced to Rs.159.3 million divided into 31,861,624 equity shares fully paid-up of Rs.5/- each. Existing shareholder of Novartis India Limited will also receive one fully paid up equity share of Rs.5/- each in the demerged entity Syngenta India Limited. |
| NOCIL Q2 net at Rs 23.3 million |
| National Organic Chemical Industries Ltd has posted a net profit of Rs 23.3 million for the quarter ended September 30, 2000 as against a net profit of Rs 50/- million for the quarter ended September 30, 1999. Net sales for SQ 2000 increased to Rs 2284.1 million from Rs 2174/- million in the same period last year. Other income stood at Rs 202.7 million in SQ 2000 as against Rs 128.6 million in SQ 99. |
| LIC Housing Q2 net up by 6.10% |
| LIC Housing Finance Ltd has posted a net profit of Rs 278.5 million for the quarter ended September 30, 2000 as against Rs 262.5 million in the quarter ended September 30, 1999. Total income for SQ 2000 stood at Rs 1974.9 million as compared to Rs 1577.3 million in the corresponding period last fiscal. |
| Aftek Infosys Q1 net profit up by 132.23% |
| Aftek Infosys Ltd has posted a net profit of Rs 35.13 million for the quarter ended September 30, 2000 as compared to Rs 15.12 million in SQ 99. Net sales for the quarter ended September 30, 2000 are at Rs 74.02 million as compared to Rs 40.23 million in the corresponding period last fiscal. Other income for the quarter ended September 30, 2000 is at Rs 8.84 million as compared to nil in SQ 99. |
| CMC Q2 net profit up by 54.65% |
| CMC Ltd has posted a net profit of Rs 32.32 million for the quarter ended September 30, 2000 as compared to Rs 20.90 million in the corresponding period last fiscal. Net sales have increased from Rs 1016.48 million in SQ 99 to Rs 1303.85 million in SQ 2000. Other income for SQ 2000 is at Rs 41.36 million as compared to Rs 42.66 million in SQ 99. |
| Amara Raja Q2 net profit down by 6.82% |
| Amara Raja Batteries Ltd has posted a net profit of Rs 60.29 million for the quarter ended September 30, 2000 as compared to Rs 64.70 million in the corresponding period last fiscal. Net sales for SQ 2000 are at Rs 308.92 million as compared to Rs 257.08 million in SQ 99.Other income for SQ 2000 is at Rs 11.90 million as compared to Rs 15.35 million in SQ 99. |
| Wyeth Lederle Q2 net profit up by 21.68% |
Wyeth Lederle Ltd has posted a net profit of Rs 105.50 million for the quarter ended September 30, 2000 as compared to Rs 86.70 million in the corresponding period last fiscal. Total Income for the quarter ended SQ 2000 is at Rs 821.60 million as compared to Rs 653.50 million in SQ 99.
Staff Costs have increased from Rs 96.10 million in SQ 99 to Rs 150/- million in SQ 2000. Staff costs for the quarter ended September 30, 2000 includes Rs 26.79 million paid to employees under the Voluntary Retirement Scheme. |
| Colgate Palmolive Q2 net profit up by 32.33% |
Colgate Palmolive India Ltd has posted a net profit of Rs 176/- million in the quarter ended September 30,2000 as compared to Rs 133/- million in the corresponding period last fiscal. Net sales for the quarter ended September 30, 2000 are at Rs 2948/- million as compared to Rs 2704/- million in SQ 99. Other income has increased from Rs 53/- million in SQ 99 to Rs 92/- million in SQ 2000.
Other Income for the quarter ended September 30, 2000 includes profit of Rs 42/-million (not subject to tax) on sale of a residential apartment. |
| Ceat Q2 net loss at Rs 33.90 million |
Ceat Ltd has posted a net loss of Rs 33.90 million in the quarter ended September 30, 2000 as compared to a net profit of Rs 46.60 million in the corresponding period last fiscal. Total Income for the quarter ended September 30, 2000 is at Rs 2532.60 million as compared to Rs 2939.10 million in SQ 99.
The performance for the quarter July-September 2000 continues to witness lower demand for truck tyres in the automobile industry in view of general sluggishness in the economy. Further increase in oil prices and other input costs have reflected in the results.
The trial production of passenger car radials is in progress at Company's new facility at Nasik plant. |
| Zandu Q2 net profit up by 82.16% |
| Zandu Pharamaceuticals Works Ltd has posted a net profit of Rs 42.14 million for the quarter ended September 30, 2000 as compared to Rs 23.13 million in the corresponding period last year. Net sales for the quarter ended September 30, 2000 are at Rs 281.97 million as compared to Rs 232.62 million in SQ 99. Other income has increased from Rs 2.59 million in SQ 99 to Rs 3.50 million in SQ 2000. |
| Ingersoll-Rand recommends 50% interim dividend |
| The Board of Ingersoll-Rand (India) Ltd has recommended an interim dividend of Rs 5/- per share (50%) after considering the unaudited accounts for the six months ended September 30, 2000. The proposed interim dividend will absorb Rs 157.84 million. The record date for payment of interim dividend has been fixed as November 03, 2000 |
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