Sun Earth Ceramics net profit grows 17.8%, Board recommends Bonus at 1:1

Sun Earth Ceramics Ltd has reported a net profit of Rs 75.4 million on a turnover of Rs 475.2 million for the quarter ended September 30, 2000. This represents a 17.81% increase in net profits and a 14.45% increase in the sales as compared to net profit of Rs 64 million earned on a turnover of Rs 415.2 million in SQ 99. Other income for the quarter was Rs 1.1 million as against Rs 0.7 million in SQ 99. At its meeting held today (October 30, 2000) the Board of Directors of the company also took on record the results for the year ended June 30, 2000. The company earned a net profit of Rs 268.7 million on a turnover of Rs 1.75 billion as against Rs 148 million earned in the previous fiscal on a turnover of Rs 1.17 billion. Other income for the year was Rs 3.9 million as against Rs 4 million in FY 99. At the meeting of the Board of Directors held today (October 30, 2000) the Boards recommended to issue bonus shares in the ratio of 1:1 and a final dividend at the rate of Re 1/- per share. The company's planned expansion for third firing line project at Karjat has been commissioned in July 2000. The company has projected to complete the increase in capacity to 10 million Sqm to be completed by December 2000.

Morepen Lab announces 70% growth in net profits for SQ 2000

Morepen Laboratories Ltd has reported a net profit of Rs 207 million for the quarter ended September 30, 2000 as against Rs 122 million in the corresponding period of the previous fiscal. The gross revenues for the quarter were Rs 1059 million as against Rs 846 million in SQ 99. Interest expenditure increased 21.79% from Rs 78 million in SQ 99 to Rs 95 million in SQ 2000. The depreciation charge was also 50% higher at Rs 54 million as against Rs 36 million in SQ 99.

Exide Industries posts Rs 140.3 million net profit in SQ 2000

Exide Industries Ltd has recorded a net profit of Rs 140.3 million for the quarter ended September 30, 2000 as against Rs 133.8 million reported in the same quarter of the previous year. The net sales for the quarter were Rs 1.99 billion as against Rs 1.96 billion in SQ 99. Depreciation charge for the quarter was 14% higher at Rs 100.9 million compared to Rs 88.4 million in SQ 99.

Kesoram Q2 net profit at Rs 90.76 million

Kesoram Industries Ltd. has posted a net profit of Rs 90.76 million in the quarter ended September 30, 2000 as compared to Rs 23.30 million in the corresponding period last fiscal. Net sales for the quarter ended September 30, 2000 are at Rs 3278.57 million as compared to Rs 1666.52 million in SQ 99. Other income has increased from Rs 133.77 million in SQ 99 to Rs 202.92 million in SQ 2000. Other income includes Rs 110.360 million (30.09.200) being surplus arising on transfer of certain fixed assets to two new companies in terms of Scheme of Arrangement approved by the shareholders and Calcutta High Court. Textile Unit hived off to a new company in 1999-2000.

Procter & Gamble Hygiene Q1 net up by 24.68%

Procter & Gamble Hygiene Health Care Ltd has posted a net profit of Rs 186.40 million for the quarter ended September 30, 2000 as compared to Rs 149.50 million in the similar period last year. Net sales for the quarter ended September 30, 2000 are at Rs 1200.90 million as compared to Rs 1192.90 million in the corresponding period last fiscal. Other income has increased from Rs 1.80 million in SQ 99 to Rs 14.10 million in SQ 2000. Commenting on the first quarter performance Mr Bharat Patel Chairman PGGH said "We are pleased with the first quarter performance as it is driven by a solid growth in the core categories Feminine Hygeine and Health Care. In the Feminine Hygiene Category Whisper continued to grow behind the superior performing Whisper Ultra."

Chennai Petroleum net profit declines 35%, sales up by 24.3%

Chennai Petroleum Corporation Ltd has reported a net profit of Rs 226.8 million for the quarter ended September 30, 2000 as against Rs 350.4 million in SQ 99. The sales for the quarter were Rs 15.22 billion, 24.3% higher compared to Rs 12.17 billion in SQ 99. Other income for the quarter was Rs 26.1 million as against Rs 50.4 million in SQ 99. The Depreciation charge for the quarter was 24.56% higher at Rs 270.1 million compared to Rs 217.2 million in SQ 99.

Rolta India SQ 2000 net profit up by 40.44%, sales rise 50.58%

Rolta India has reported a net profit of Rs 217.74 million for the quarter ended September 30, 2000 as against Rs 155.04 million in SQ 99. The sales for SQ 2000 were Rs 590.7 million a growth of 50.58% compared to Rs 392.26 million in SQ 99. Other income was Rs 3.71 million as against 3.25 million in SQ99. Interest expenditure for the quarter was 82% higher at Rs 48 million compared to Rs 26.38 million in SQ 99.

IDBI Q2 net profit down by 19.69%

Industrial Development Bank of India has posted a net profit of Rs 1647/- million for the quarter ended September 30, 2000 as compared to Rs 2051/- million in the corresponding period last fiscal. Income from operations is at Rs 19173 million for the quarter ended September 30, 2000 as against Rs 19241 million in SQ 99. Other income has decreased from Rs 438/- million in SQ 99 to Rs 382/- million in SQ 2000. Government of India vide notification dated June 5, 2000 and corrigendum dated June 7, 2000 has out of its holding of 485,58 million equity shares of Rs.10/- each of the Bank) converted 247 million equity shares into 247 million fully paid-up redeemable preferance shares of Rs.10/- each aggregating Rs.2470 million on June 5, 2000.

L&T SQ 2000 net profit declines 86%, sales down by 0.89%

Larsen & Toubro Ltd has announced a net profit of Rs 124.9 million on a turnover of Rs 17.41 billion for the quarter ended September 30, 2000. This represents a 85.74% decline in the net profits and a 0.89% decline in the sales compared to a net profit of Rs 876.1 million earned on a turnover of Rs 17.26 billion in SQ 99. Other income for the quarter was Rs 633.41 million (SQ 99 Rs 244.1 million). The company had earned a profit of Rs 126.9 million on transfer of undertaking during the SQ 99. The Board of Directors of the company has approved the scheme of the cement business of the company subject to a detailed scheme of demerger to be approved by the shareholders and appropriate authorities.

Burroughs Wellcome net profit declines 38.28%, sales down by 18%

Burroughs Wellcome has reported a 38.28% decline in the net profits for the quarter ended September 30, 2000 over the corresponding quarter of the previous year. The company recorded a net profit of Rs 55.3 million in SQ 2000 as against Rs 89.6 million in SQ 1999. The sales for the quarter were Rs 524.2 million in SQ 2000, 18.19% lower compared to Rs 640.8 million in SQ 1999. The other income declined 28.49% from 35.8 million in SQ 1999 to Rs 25.6 million in SQ 2000. A Significant price reduction on Septran the companys Number 1 product, has adversely affected both sales and profits in the quarter ended 30th September, 2000.

Hindalco post 8.74% growth in SQ 2000 net profits, sales grow 6.8%

Hindalco Industries Ltd has reported a net profit of Rs 1.75 billion as against Rs 1.61 billion in SQ 99, representing a growth of 8.74%. The sales for the quarter were 6.8% higher at Rs 5.51 billion as against Rs 5.16 billion in SQ 99. Other income for the quarter was 329 million in SQ 2000 as against Rs 331 million in SQ 99. During the current quarter company provided Rs 700 million for tax as against Rs 605 million in SQ 99.

BPCL reports a 73.55% growth in net profit in SQ 2000

Bharat Petroleum Corporation Ltd has reported a growth of 73.55% in the net profit for the quarter ended September 30, 2000 and a 43.37% growth in sales over the same period of the last fiscal. The company recorded a net profit of Rs 3.59 billion on a turnover of Rs 108.97 billion in SQ 2000 as against Rs 2.07 billion on a turnover of Rs 76 billion in SQ 99. Other income for the quarter was Rs 359 million as against Rs 318 million in SQ 99. Depreciation charge for the quarter was 20% higher at Rs 1.69 billion as against Rs 1.40 billion in SQ 99. Tax provision increased by a substantial 133.64% from Rs 740 million in SQ 99 to Rs 1.73 billion in SQ 2000. Market sales during April - September 2000 was 9.56 million tonnes as against 9.27 million tonnes during the corresponding period of the previous year increases in major products are in Motor Spirit (16.3%) High Speed Diesel (10%), Liquefied Petroleum Gad (18.2%) Superior Kerosene Oil (0.9%)and Naphtha (3.3%). During the same period the Refinery Processed 4.11 million tonnes as compared to 4.56 million tonnes or crude in the corresponding period of the previous year. The power throughput was on account of planned shutdown during the April-May, 2000.

Dr Reddy's Laboratories report net profit of Rs 294.73 million SQ 2000

Dr Reddy's Laboratories Ltd has reported a net profit of Rs 294.73 million for the quarter ended September 30, 2000 as against Rs 119.65 million in SQ 99. The sales for the quarter were Rs 1.64 billion as against Rs 1.14 billion in SQ 99. The results as announced by the company were taken on record by the directors of the company today (October 30, 2000) and are subject to due compliance with the final order passed by the Hon'ble High Courts of Tamilnadu and Andhra Pradesh with respect to the merger of American Remedies Ltd and Cheminor Drugs Ltd with Dr. Reddy's Laboratories Ltd.

Videocon International Q2 net profit declines 12.61%, sales up by a half per cent

Videocon International Ltd has reported a net profit of Rs 368.4 million in SQ 2000 as against Rs 421.6 million in SQ 99. The sales for the quarter were Rs 7.61 billion as against Rs 7.57 billion in SQ 99. This represents a 12.61% decline in the net profits and a 0.56% reduction in the sales. Other income for the quarter was Rs 6.7 million as against Rs 4.5 million in SQ 99.

Glaxo India reports 4% drop in net profits, sales down by 4.74%

Glaxo India has reported a net profit of Rs 153.3 million on a turnover of Rs 2361 million for the quarter ended September 30, 2000 as against a net profit of Rs 159.8 million in SQ 99. This represents a 4% decline in the net profit and a 4.74% reduction in sales as compared to the same period in the last year. The company attributes the depressed sale in the current quarter to the extended trade boycotts in certain southern states and reduced purchases by the trade in other states, primarily because of several significant changes in Sales tax in Eastern and Central India. According to the company the secondary sales at the retail level were healthy.

India Cements SQ 2000 net profit declines 28%, sales down by 3.5%

India Cements reported a net profit of Rs 195.3 million in SQ 2000 as against Rs 271.8 million in SQ 99. The sales for the quarter were Rs 3374.4 million as against Rs 3497.2 million in SQ 99.This translates into a 28% decline in the profits and a 3.5% decline in the net sales as compared to the same period in the last year. Other income for the quarter was Rs 14.5 million as against Rs 10 million in SQ 99.

German Remedies posts Rs 105.65 million net profit in SQ 2000

German Remedies Ltd has posted a net profit of Rs 105.65 million in SQ 2000 as against Rs 98.23 million in SQ 99. The sales for the quarter were Rs 667.5 million as against Rs 645.29 million in SQ 99 representing a marginal growth of 3.44%. Other income increased 299% from Rs 2.248 million in SQ 99 to Rs 8.96 million in SQ 2000. Interest expenditure for the SQ 2000 declined from Rs 3.63 million in SQ 99 to Rs 2.13 million in SQ 2000.

Bata India SQ 2000 net profit declines 89%, retail sales up by 6%

Bata India Ltd has reported a net profit of Rs 3.8 million for the quarter ended September 30, 2000 as against Rs 36.4 million in SQ 99. The sales for the quarter were Rs 1.73 billion as against Rs 1.64 billion in SQ 99, a growth of 5.45%. The other income for the quarter increased 68.42% from Rs 1.9 million to Rs 3.2 million in SQ 2000. The retail sales for the quarter increased 6% in terms of value and 7% in volume during the nine months ended September 30, 2000. The company continued wholesale sales to ensure recovery of outstanding debts. Although the lockout at company's factory in Peenya, Karnataka was lifted w.e.f. July 2000, production is yet to restart.

Voltas Ltd reports 335.64% rise in SQ 2000 net profit

Voltas Ltd has reported a net profit of Rs 44 million for the quarter ended September 30, 2000 as against Rs 10.1 million in SQ 99. The sales for the quarter were Rs 2.02 billion as against Rs 1.89 billion in SQ 99, a growth of 6.79%. Other income for SQ 2000 declined 2.8% from Rs 59.9 million in SQ 99 to Rs 58.2 million. Interest expenditure for the quarter was 31% lower at Rs 36 million as against Rs 52.2 million in SQ 99. During the quarter ended 30, 2000 the company earned a net extraordinary income of Rs 310 million as against an extraordinary expense of Rs 327 million in SQ 99.

ITC Bhadrachalam posts Rs 100.33 million net profit in SQ 2000

ITC Bhadrachalam Paperboards Ltd has reported a net profit of Rs 100.33 million for the quarter ended September 30, 2000 as against a loss of Rs 75.97 million incurred in SQ 99. The sales for the quarter were 47.73 % higher at Rs 1.6 billion as against Rs 1.08 billion in SQ 99. Other income reduced 31.36% from Rs 18.08 million in SQ 99 to Rs 12.42 million in SQ 2000.

Hoechst Marion posts 161.7% profit growth, sales decline 5.8%

Hoechst Marion Roussel Ltd has reported a net profit of Rs 123 million for the quarter ended September 30, 2000 as against Rs 47 million recorded in SQ 99. The sales for the quarter were Rs 1444 million as against Rs 1533 million in SQ 99, representing a decline of 5.8%. The other income for the quarter was 50% higher at Rs 21 million compared to Rs 14 million in SQ 99. Interest expenditure for the quarter decreased 73% from Rs 30 million in SQ 99 to Rs 8 million in SQ 2000. Hoechst incurred a net exceptional item of expenditure of Rs 27 million that was 61% lower compared to Rs 70 million in SQ 99. Provision for tax reduced 30% from Rs 70 million in SQ 99 to Rs 49 million in SQ 2000. The company reported an EPS of Rs 5.35 for SQ2000 as against Rs 2.04 for SQ 99.

Reliance Petroleum Q2 net profit at Rs 4.02 billion

Reliance Petroleum Ltd has reported a net profit for the quarter ended September 30, 2000 on a turnover of Rs 83.25 billion. Other income for the quarter was Rs 700 million. Interest expenditure for the quarter was Rs 2.84 billion and company charged Rs 1.62 billion towards depreciation for the current quarter.

Kochi Refineries net profit decline 62%, Interest expenditure up by 254%

Kochi Refineries Ltd has reported a 62.38% decline in the net profits for the quarter ended September 30, 2000 over the same period in the previous fiscal. The company reported a net profit of Rs 376.2 million on a turnover of Rs 19.66 billion as against a profit of Rs 1 billion on a turnover of Rs 14.06 billion in SQ 99. The other income for the quarter was Rs 291.3 million as compared to Rs 198.4 million in SQ 99. The interest expenditure for the quarter was 254% higher at Rs 297.9 million as against Rs 84 million in SQ 99. Depreciation charge for the quarter was also 68.68% higher at Rs 244.6 million as against Rs 145 million in SQ 99.

Bank of India Q2 net up 75.55%

Bank of India has posted a net profit of Rs 790 million for the quarter ended September 30, 2000 as against Rs 450 million reported for the same period in the last fiscal. The interest income for the quarter was Rs 13.61 billion, 14.36% higher compared to Rs 11.9 billion reported in SQ 99. The operating profit for SQ 2000 was 2.22 billion as against Rs 990 million in SQ 99. The company made a higher provision of Rs 1.43 billion in SQ 2000 as against Rs 540 million in SQ 99. The Bank has changed the method of valuation of its investment in securities from individual scrip method to basket method in accordance with RBI guidelines issued on October 16, 2000.

SBI Q2 net profit at Rs 6.06 billion, interest income up by 14.35%

State Bank of India has reported a net profit of Rs 6.06 billion for the quarter ended September 30, 2000 as against Rs 3.55 billion reported in the corresponding quarter of the previous fiscal. The interest income for the quarter was Rs 62.04 billion, representing a 14.35% growth over Rs 54.25 billion incurred in SQ 99. The Other income for the quarter ended September 30, 2000 was Rs 9.05 billion as against Rs 7.81 billion in SQ 99. The interest expenditure for the quarter was Rs 41.76 billion, 8.32% higher compared to Rs 38.55 billion in SQ 99. The employee cost increased 21% from Rs 10.79 billion in SQ 99 to Rs 13.06 billion in SQ 2000. The investment portfolio of the Bank has been classified in accordance with the instructions issued by RBI recently, vide their letter DBOd No. BP. BC. 32/21.04.048/2000-2001 dated the 16th October, 2000 & the relative accounting policies have been modified accordingly. As a consequence thereof, provision for depreciation in investments which would have otherwise been required to be made (gross Rs 1840/- million) during this quarter has not been made, & the depreciation of Rs 700/- million provided in the previous quarter has been written back. The consequential change had a favourable net of tax impact of Rs 1. 56 billion on the net profit of the quarter under reference.

EIH Q2 net profit up by 48.88%

EIH Ltd has posted a net profit of Rs 99.90 million for the quarter ended September 30, 2000 as compared to Rs 67.10 million in the same period last year. Total Income for the quarter ended September 30, 2000 is up by 18.10% at Rs 1192.90 million as compared to Rs 1010/- million in the corresponding period last fiscal Traditionally, in the hotel industry, the results of the first six months are not indicative of a full years working. Oberoi Kerala Hotels & Reosrts Ltd, a Joint Venture with Government of Kerala has become a subsidiary of the Company.

Rhone Poulenc Net profit up by 34%, sales up by 14%

Rhone Poulenc (India) Ltd has reported a net profit of Rs 90.3 million for the quarter ended Septemeber 30, 2000 as against Rs 67.3 million in the same period of the last fiscal. The sales for the quarter were Rs 696.7 million, representing a growth of 14.43% over the corresponding period of the previous financial year. Other income increased 35.85% from Rs 19.8 million to Rs 26.9 million. The company reported an EPS of Rs 20.07 for SQ 2000 as against Rs 14.96 in SQ 99.

BPL Ltd posts net profit of Rs 222.6 million for SQ 2000

BPL Limited has reported a net profit of Rs 222.6 million for the quarter ended Spetember 2000 on a net turnover of Rs 4404.1 million as against a net profit of Rs 238.1 million reported last year for the same period on a turnover of Rs 4676.2 million. The depreciation charge for the quarter was 32% higher at Rs 78.9 million as against Rs 59.8 million in SQ 99. The interest cost was more or less constant at Rs 110.9 million as against Rs 104.5 million an increase of 6.12%. The turnover in the second quarter of 1999-2000 included turnover from sales of Audios of Rs 253 million and dry cell batteries of RS 227.8 million which are now being sold by BPL's associate companies on their own. Export of color monitors aggregating to Rs 230.5 million has been discontinued w.e.f April 1, 2000. The weakening of the Indian rupee during the last six months has contributed to the rise in the cost of goods sold. The company has estimated its impact to be around Rs 30 million. The company has undertaking a massive product development effort as a result of which 74 new products are being launched, twice the number that of the previous year. Re-engineering cost reduction activities have resulted in improved Alkaline Batteries performance. Supply chain cost efficiency was enhanced to 35 days of inventory.

Krebs Biochemicals report 31.53% improvement in Q2 net profit

Krebs Biochemicals Ltd has reported a net profit of Rs 31.29 million for the quarter ended September 30, 2000 representing a 31.53% growth over a net profit of Rs 23.78 million reported in the same period last fiscal. The company reported operating income of Rs 87.57 million in SQ 2000 as against Rs 70.26 million in SQ99. Depreciation for the quarter was Rs 10.62 million as against Rs 9.5 million in SQ 99. Interest cost for the quarter declined 15.44% from Rs 14.99 million in SQ 99 to Rs 12.68 million in SQ 99.

Bombay Dyeing to consider amalgamation of Scal Investments

The Board of Directors of The Bombay Dyeing and Manufacturing Co. Ltd will meet on October 31, 2000 to consider the amalgamation of the company's wholly owned subsidiary, Scal Investments Ltd with the company.

Mascot Systems reports net profit of Rs 93.7 million for quarter ended September 2000

Mascot Systems Ltd has reported a net profit of Rs 93.7 million for the quarter ended September 30, 2000 on a turnover of Rs 954.88 million. Other income for the quarter at Rs 29.24 million includes Rs 11.32 million earned on deployment of unutilized funds out of public issue and Rs 16.98 million sundry credits written back. The company had incurred a net loss of Rs 5.3 million in SQ 99 on a turnover of Rs 57 million. However the figures pertaining to the previous quarter are not comparative with those of the current year due to restructuring of the operations of the company during the current fiscal.

Krone Communications Q3 net profit slides 32%, sales decline 21%

Krone Communications Ltd has reported a net profit of Rs 15 million on a turnover of Rs 113.3 million for the quarter ended September 30, 2000 as against a net profit of Rs 22.2 million on a turnover of Rs 143.1 million reported for the same period in the last fiscal. This translates into a 32% decline in net profits and a 20.82% fall in the net on a YOY basis. Other income for the Q3 was 2.4 million as against Rs 1.8 million in SQ 99. The company has initiated steps to establish a 100 thousand sq ft facility in Hi-Tech city, Hyderabad, to accommodate about 1500 software engineers apart from its current development facility as Medchal, Andhra Pradesh.

MICO Q3 net profit declines 22.34%, sales up by 9%

Motor Industries Company Ltd has reported a net profit of Rs 245.1 million for the quarter ended September 30, 2000 as against Rs 315.6 million for the same period last year. The sales for the quarter were Rs 4163.4 million representing a 9% growth over Rs 3817.7 million reported in SQ 99. Other income for the quarter were Rs 63.6 million as against Rs 68.8 million in SQ 99. The results are not inclusive of thecost of Rs 400 million incurred towards a reconstruction programme launched as a consequence of rapid change in customer demand for products manufactured by the company.

Frontier Info net profit up by 212%, sales up by 185% for Q2, partners with Jeralsy Computer, Saudi Arabia

Hyderabad based Frontier Information Technologies Ltd has reported a net profit of Rs 13.64 million for the quarter ended September 30, 2000 as against Rs 4.37 million for the same period in the last year. The sales for the quarter were Rs 58.50 million as against Rs 20.55 million in SQ 99. This represents a 212% growth in net profit and a 185% growth in the sales for the quarter ended September 2000. The other income increased drastically from Rs 250 thousand in SQ 99 to Rs 3.06 million in SQ 2000. The company has reported to have added Sun Micro, Semi Conductors and Delloite & Touche to its clients list. Frontier has entered into an agreement with Jeralsy Computer & Communication Services for Saudi Arabia for the promotion of company's products and services in Saudi Arabia. The company has initiated steps to establish a 100 thousand sq ft facility in Hi-Tech city, Hyderabad, to accommodate about 1500 software engineers apart from its current development facility as Medchal, Andhra Pradesh.

Sun Infoways Q2 net profit at Rs 77.21 million, Board recommends 10% interim dividend

Sun Infoways Ltd has declared a net profit of Rs 77.21 million for the quarter ended September 30, 2000 as against a loss of Rs 7.58 million recorded for the same period last year. The sales for the quarter were Rs 242.71 million as against Rs 1.14 million in SQ 99. The Board of Directors of the company has recommended an interim dividend of 10% (Re 1.00 per share). With this interim dividend the total dividend declared by the company till date for the FY 2000-01 has totalled to 30%. Earlier during the year the company had taken over Zap Infotech in all-stock deal for a consideration of Rs 4750 million. The above result does not include the performance of Zap Infotech as the acquisition is in process. Zap Infotech is reported to have a USD 30 million order book position.

BASF India posts 10.36% net profit growth in Q2 2001

Specialty Chemicals manufacturer BASF India Ltd has recorded a 10.36% growth in the net profits for the second quarter ended September 30, 2000 over the same period of the last year. The company recorded a net profit of Rs 67.1 million on a turnover of Rs 1141.2 million as against a net profit of Rs 60.8 million on a turnover of Rs 997.7 million in Q2 2000. Other income for the quarter was Rs 8.6 million 36% lower compared to Rs 13.5 million recorded in Q2 2000. The company earned a net profit of Rs 118 million for the half year ended September 30, 2000 as against Rs 100.9 million in the same period last year. The net sales for the period were Rs 2208.6 million as against Rs 1876.8 million last year. Other income for the half-year September 2000-2001 was 3.15% higher at Rs 19.6 million (Rs 19 million in SQ 1999-2000).

Bausch & Lomb Q2 net loss at Rs 36.29 million

Bausch & Lomb India Ltd has posted a net loss of Rs 36.29 million for the quarter ended September 30, 2000 as compared to a net profit of Rs 0.73 million in the corresponding period last fiscal. Net Sales have decreased from Rs 160.50 million in SQ 99 to Rs 79.33 million in the current quarter ended September 30, 2000. Other income has increased from Rs 6.13 million in SQ 99 to Rs 14.13 million in the quarter ended September 30, 2000. The shareholders of the company in its tenth general meeting held on the July 21st 2000 approved the sale of the Vision Care business to a wholly owned subsidiary of Bausch & Lomb Inc USA.The sale of the Vision Care Business was effected on 23rd october 2000 and the consequential financial impact will be reported in the next quarter. Sales of the Company for the current period were significantly lower compared to the corresponding period in the previous period due to a steep decline in the eyewear sales primarily as a result of modification of the distribution structure of the eyewear business.This change the distribution structure has resulted in a significant increase in trade and channel discounts during the current period.Sales of Vision Care products have remitted constant compared to the corresponding period last year.

Indian Oil Corporation Q2 net profit at Rs 9779.60 million

Indian Oil Corporation Ltd has posted a net profit of Rs 9779.60 million for the quarter ended September 30,2000 as compared to Rs 9878/- million in the corresponding period last fiscal. Total Income for SQ 2000 is at Rs 30326.40 million for SQ 2000 as compared to Rs 222658.30 million in thye corresponding period last fiscal.

Wockhardt Q3 net profit at Rs 225/- million

Wockhardt Ltd has posted a net profit of Rs 225/- million for the quarter ended September 30, 2000 as compared to Rs 197/- million in the corresponding period last fiscal. Net sales for the quarter ended September 30, 2000 are at Rs 1531/- million as compared to Rs 1355/- million in SQ 99. Pursuant to a Scheme of Arrangement, the pharmaceutical business of erstwhile Wockhardt Limited vests with the Company with effect from January 1, 2000. In terms of the aforementioned Scheme, 35,061,652 fully paid-up equity shares of Rs 10/- each were allotted. Further, pursuant to a scheme of amalgamation, Wockhardt Veterinary Limited was merged with the Company with effect from January 2, 2000. In consideration thereof, 1,200,000 fully paid-up equity shares of Rs 10/- each were allotted.

SSI Q1 net profit up by 307.62%

SSI Ltd has posted a net profit of Rs 275.77 million for the quarter ended September 30, 2000 as compared to Rs 67.65 million in the corresponding period last fiscal. Net Sales for the quarter ended September 30, 2000 are at Rs 1015.33 million as compared to Rs 344.30 million in the quarter ended September 30, 99. Other income has increased from Rs 6.88 million in SQ 99 to Rs 121.24 million in SQ 2000. The other income includes Rs 59.54 million on account of Exchange rate difference. The Company has signed a definitive purchase agreement with M/s. AlbionOrion Company (AOC), LLC, Delaware, USA, for a total consideration of US$ 63.65 million. The Members approved in the Extra-ordinary General Meeting held on 12th October 2000 for issue of GDSs to the shareholders of AOC for an amount not exceeding US$ 43.65 million. The Company is setting up 2 wholly owned overseas in Australia & Singapore.

Money

Rapid Information on Stocks & Corporates

Tell us what you think of this report