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| Knoll Pharma Q3 net profit down by 42.53% |
Knoll Pharmaceuticals Ltd has posted a net profit of Rs 233.30 million for the quarter ended September 30, 2000 as compared to Rs 406/- million in the corresponding period last fiscal. Net sales for the quarter ended September are at Rs 901.20 million as compared to Rs 774.70 million in SQ 99.
Extraordinary item of Rs 131.60 million quarter ended September 2000 represents profit on sale of balance portion of property at Sion.
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| Sterlite Industries Board approves buy-back at a maximum price of Rs 200/- |
The Board of Directors of Sterlite Industries Ltd has approved buy-back of outstanding Equity Shares of the Company through the open market using the electronic trading facilities of the Stock Exchange.The Board has proposed the utilisation of an aggregate amount of Rs.280 crore for the buy-back and has proposed a maximum price of Rs.200 per share .The buyback is for up to 25% of the outstanding equity capital of the company and is subject to the approval of the shareholders in the ensuring Annual General Meeting. This price represents a 26% premium to the average of SIILs trading price range since the demerger of the telecommunication business of the Company.
Upon completion the buy-back will result in giving a considerable boost to SIILs ROCE and RONW.
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| Sterlite Industries Q1 net profit up by 67.64% |
Sterlite Industries (India) Ltd has posted a net profit of Rs 354.90 million in the quarter ended September 30, 2000 as against Rs.211.70 million in the same period last fiscal. Net Sales for SQ 2000 are at Rs 7646.20 million as against Rs.4085.8 million in SQ 99. Other Income has decreased from Rs.63.40 million in SQ 99 to Rs 34.10 million for SQ 2000.
Pursuant to the Scheme of Arrangement, the telecommunication business of the Company has been demerged into a separate company - Sterlite Optical Technologies Limited (SOTL) with effect from July 01, 2000. Subsequent to the demerger, the face value of equity share stands reduced from Rs 10 per share to Rs 5 per share and consequently the equity share capital of the Company is appropriately reduced.
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| Other income helps HFCL post a 385.50% rise in net profit for SQ 2000 |
Himachal Futuristic Communications Ltd has posted a net profit of Rs 946.06 million for the quarter ended September 30, 2000 as compared to Rs 194.86 million in the corresponding period last fiscal. Net sales have increased from Rs 1248.84 million in SQ 99 to Rs 3406.41 million in the quarter ended September 30, 2000. Other income has increased from Rs 15.22 million in SQ 99 to Rs 438.64 million in the quarter ended September 30, 2000.
Other income has mainly increased due to increase in interest earned on investments of surplus funds. During the quarter under review M/s HFCL Infotel Ltd a subsidiary of the company has completed its first phase of network implementation in Punjab and has commercially launched its telephony services.
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| Sterlite Optical Q1 net at 571.50 million |
Sterlite Optical Technologies Ltd has posted a net profit of Rs 571.50 million for the quarter ended September 30, 2000 as compared to Rs 282.0 million in the quarter ended September 30, 1999. Net Sales for SQ 2000 increased to Rs 2045.50 million from Rs 1314.50 million in SQ 99. Other income for the quarter ended September 30, 2000 stood at Rs 13.80 million as against Rs 1.10 million in the corresponding period last year.
During the quarter sales revenues of optical revenues of optical fibre cables accounted for 61% of the total sales of the company as compared to 35% in the corresponding previous quarter. Sales volumes of jely filled telephone cables were 30% lower due to delay in receipt of orders from the Department of Telecommunication Services.
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| Britannia Q2 net profit up by 67.71% |
| Britannia Industries Ltd has posted a net profit of Rs 213/- million in the quarter ended September 30, 2000 as compared to Rs 127/- million in the corresponding period last fiscal. Net sales for the quarter ended September 30, 2000 are at Rs 3519/- million as compared to Rs 3054/- million in SQ 99. Other income has increased from Rs 26/- million in SQ 99 to Rs 36/- million in SQ 2000.
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| Titan Industries Q2 net at Rs 106.5 million |
| Titan Industries Ltd has posted a net profit of Rs 106.50 million for the quarter ended September 30, 2000 as compared to 103.20 million for the quarter ended September 30, 1999. Net sales increased to Rs 1733.1 million for SQ 2000 as against Rs 1540.30 million in SQ 99. Other income stood at Rs 3.30 million for SQ 2000 as against Rs 7.10 million for SQ 99.
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| Arvind Mills Q2 net loss at Rs 1088.20 million |
| Arvind Mills Ltd has posted a net loss of Rs 1088.20 million for the quarter ended September 30, 2000 as compared to a net loss of Rs 549.50 million for the same period last year. Net sales for SQ 2000 stood at Rs 2934.90 million as against Rs 2901.80 million in SQ 99. Interest & Finance Costs (net) for SQ 2000 has increased to Rs 873.10 million from Rs 394.60 million in SQ 99.
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| SAIL Q2 net loss at Rs 2895.70 million |
Steel Authority of India Ltd has posted a net loss of Rs 2895.70 million for the quarter ended September 30, 2000 as against a net loss of Rs 7508.20 million for the quarter ended September 30, 1999. Net sales for SQ 2000 stood at Rs 35382.5/- million as against Rs 34618/- million for SQ 99.
Pending final settlement, liability for wage revision is unascertainable. However provision has been made in the accounts to the extent of ad hoc adjustable advances /interim relief paid to the employees in line with the practice followed in the previous year.
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| Indian Shaving Q3 net up by 16.35% |
Indian Shaving Products Ltd has posted a net profit of Rs 56.20 million for the quarter ended September 30, 2000 as compared to Rs 48.30 million in the corresponding period last fiscal. Net Sales for the quarter ended September 30, 2000 are at Rs 730.50 million as compared to Rs 627.90 million in the corresponding period last fiscal. Other income has increased from Rs 7.80 million in SQ 99 to Rs 24.70 million in SQ 2000.
The Scheme of Amalgamation of Duracell (India) Ltd. and Wilkinson Sword India Ltd. with the Company has been sanctioned by the Honble High Court of Rajasthan and Delhi on 12th October, 2000 subsequent to the close of the 3rd quarter the financial impact of the Amalgamation,Therefore, is not reflected in these results and will be reported in full year results.
Other income in SQ 2000 is higher on account of job work carried out for Wilkinson Sword India Ltd.
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| McDowell Q2 net up by 10.77% |
McDowell & Co Ltd has posted a net profit of Rs 50.4 million for the quarter ended September 30, 2000 as compared to Rs 45.5 million for the quarter ended September 30, 1999. Net sales for SQ 2000 increased to Rs 1929.7 million from Rs 1900.7 million in SQ 99. Other income for the quarter ended September 30, 2000 stood at Rs 38.5 million as against Rs 25.1 million in the same period last year.
Consequent to the favourable verdict from the Honourable High Court of Andhra Pradesh,the Company has resumed supply of its flagship brands in Andhra Pradesh from September 20, 2000.The supply of these brands had been suspended for the past 4 months. |
| Tata Tea Q2 net down by 21.96% |
| Tata Tea Ltd has posted a net profit of Rs 360.6 million for the quarter ended September 30, 2000 as against Rs 462.1 million for the quarter ended September 30, 1999. Net sales for SQ 2000 stood at Rs 2274.9 million as compared to Rs 2312.8 million in SQ 99. Other income stood at Rs 62.8 million for the quarter ended September 30, 2000 as against Rs 131.7 million in the corresponding period last year. |
| Reliance Q2 net up by 20.09% |
Reliance Industries Ltd has posted a net profit of Rs 7350/- million for the quarter ended September 30, 2000 as compared to Rs 6120/- million in the corresponding period last fiscal. Net sales for SQ 2000 are up by 73.57% at Rs 83940/- million as compared to Rs 48360/- million in the corresponding period last fiscal.
Other income has decreased from Rs 1280 million in SQ 99 to Rs 760/- million in SQ 2000. |
| Bombay Dyeing Q2 net at Rs 84.9 million |
Bombay Dyeing & Manufacturing Company Ltd has posted a net profit of Rs 84.9 million for the quarter ended September 30, 2000 as compared to Rs 199.5 million for the quarter ended September 30, 1999. Net Sales for SQ 2000 stood at Rs 2184.7 million as against Rs 2363.9 million for SQ 99. Other income for the quarter ended September 30, 2000 increased to Rs 386.1 million from Rs 311.2 million in the same period previous year.
The Board of Directors of the company at its meeting held today October 31, 2000 has approved the proposal of amalgamation of the company's wholly owned subsidiary Scal Investments Ltd with the company.
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| United Phosphorus Q2 net at Rs 66.49 million |
| United Phosphorus Ltd has posted a net profit of Rs 66.49 million for the quarter ended September 30, 2000 as against Rs 140.78 million in the corresponding period previous year. Net Sales for SQ 2000 stood at Rs 1758.90 million as compared to Rs 1832.97 million in SQ 99. Other income for SQ 2000 decreased to Rs 36.24 million from Rs 39.57 million in SQ 99. |
| GE Shipping Q2 net profit down by 25.12% |
| Great Eastern Shipping Co Ltd has posted a net profit of Rs 327.50 million in the quarter ended September 30, 2000 as compared to Rs 437.40 million in SQ 99. Net sales have increased from Rs 2077.20 million in SQ 99 to Rs 2278.40 million in SQ 2000. Interest exp has increased from Rs 140.90 million in SQ 99 to Rs 188/- million in SQ 2000. |
| Corporation Bank Q2 net profit up by 23.14% |
| Corporation Bank has posted a net profit of Rs 710.20 million for the quarter ended September 30, 2000 as compared to Rs 576.70 million in the corresponding period last fiscal. Interest earned for SQ 2000 is at Rs 4335/- million as compared to Rs 3908.60 million in SQ 99. Other income has decreased from Rs 697/- million in SQ 99 to Rs 68.70 million in the quarter ended September 30, 2000. |
| Hydro S&S inducts new director |
| Hydro S&S Industries Ltd has informed BSE that Mr S K Subramanyan was co-opted as an Additional Director of the company and designated as Whole Time Director (Director Finance & Company Secretary). |
| Morepen Laboratories Ltd has informed BSE that K B Suri chairman & managing director has expired and in his stead and in accordance with decision of the board of directors of the company Sushil Suri director - operations has taken over as chairman & managing director of the company. |
| Maral Overseas Q2 net profit down by 17.38% |
Maral Overseas Ltd has posted a net profit of Rs 44.20 million for the quarter ended September 30, 2000 as compared to Rs 53.50 million in the same period last year. Net Sales for the quarter ended September 30, 2000 are at Rs 600.60 million as compared to Rs 646.50 million in the corresponding period last fiscal. Other income has increased from Rs 4.10 million in SQ 99 to Rs 4.60 million in SQ 2000.
To keep pace with the rapid change in technology in context of the current economic scenario, the Company has reviewed the depreciation rates and consequently the depreciation charge for the quarter under reference is higher by Rs 13.90 million respectively. |
| Ramesh Subrahmanian appointed as MD of Hoechst Marion Roussel |
The board of directors of Hoechst Marion Roussel at its meeting held on October 30, 2000 appointed Ramesh Subrahmanian presently deputy managing director as the managing director of the company with effect from November 01, 2000.
D Bhadury presently managing director of the company has been appointed a wholetime director designated as vice chairman with effect from November 01, 2000. |
| MTNL Q2 net profit up by 38.52% |
| Mahangar Telephone Nigam Ltd has posted a net profit of Rs 4474.26 million for the quarter ended September 30, 2000 as compared to Rs 3230/- million in SQ 99. Net Sales for the quarter ended September 30, 2000 are at Rs 15212.48 million as compared to Rs 12200/- million in the corresponding period last fiscal. Other income has increased from Rs 630/- million in SQ 99 to Rs 775.04/- million in SQ 2000. |
| LML Q2 net loss at Rs 169.60 million |
LML Ltd has posted a net loss of Rs 169.60 million in the quarter ended September 30,2000 as compared to Rs 10.90 million in SQ 99. Net sales for the quarter ended September 30, 2000 are at Rs 1008.70 million as compared to Rs 1442.30 million in SQ 99. Other income has decreased from Rs 37.70 million in SQ 99 to Rs 16.60 million in SQ 2000.
The companys 4 stroke motorbikes - Adreno and Energy which were launched in Uttar Pradesh, Bihar and West Bengal, have been well received in the market. The Company will be making an All India launch of these motorbikes by January 2001.
With the launch of upgraded products, the Company has improved its market share in the metal bodied geared scooter category. However, during the 2nd Quarter the production was reduced in line with the new product mix and volumes. |
| Satyam Computer denies news item |
| With reference to news item appearing in a financial daily dated October 31, 2000 Satyam Computer Services Ltd has informed BSE that there is no truth in the statement "the company is planning to merge its loss making Nasdaq-listed subsidiary Satyam Infoway with itself" and the same is denied. |
| Punjab Tractors Q2 net profit down by 12.95% |
Punjab Tractors Ltd has posted a net profit of Rs 309/-million for the quarter ended September 30, 2000 as compared to Rs 355/- million in the corresponding period last fiscal. Net sales for SQ 2000 are at Rs 2465/- million as compared to Rs 2301.90 million in the quarter ended September 30, 99. Other income has decreased from Rs 73.20 million in SQ 99 to Rs 9/- million in SQ 2000.
Despite industry decline continuing in the second quarter of current fiscal (July-Sept 2000) Swaraj tractor sales registered an increase reaching 11638 against 11233 for same period last year through a month-on- month growth. This growth has been accompanied by an improvement in market share for the quarter to 18.7% from 17.7% posted for the second quarter of 1999. In this performance new models have made a large contribution both to volume growth and in margin improvement. |
| Wipro Q2 net profit up by 116.92% |
Wipro Ltd has posted a net profit of Rs 1540/- million as in the quarter ended September 30, 2000 as compared to Rs 712/- million in the corresponding period last year. Net Sales for the quarter ended September 30, 2000 are at Rs 7404/- million as compared to Rs 5646/- million in SQ 99. Other income for the quarter ended September 30, 2000 stood at Rs 135/- million as compared to a negative other income of Rs 12/- million in SQ 99.
Pursuant to the scheme of amalgamation of Wipro Computer Limited (WCL) with the Company approved by the Honourable High Court of Karnataka on February 16, 2000, the entire undertaking including assets & liabilities of WCL were transferred to the Company with effect from April 1, 1999. Figures for the six months period ended September 30, 1999 include results of operations of Wipro Acer Limited.
In fiscal 2000, the Company had sold 4,694,795 shares of Wipro Net Ltd (WNL) resulting in an extraordinary income of Rs 1,095 million. Consequent to this sale, holding in WNL has dropped to 47%. Of the total shares sold, on 1,791,385 shares, the buyer has a put option & the Company has a call option for a specific period, within a price band of Rs 555 to Rs 700 per share.
To focus on its core business, the Company divested significant portion of its holding in Wipro Finance Limited. resulting in an extraordinary loss of Rs 810 mn. Following the divestment, Wipro Finance Limited ceased to be a subsidiary of the Company. Further based on its review of the financial position of Wipro Finance Limited, the company estimated the value of remaining investments to be negligible and had therefore provided for diminution in the value of such investments aggregating to Rs 701 mn. |
| Other income helps Silverline Technologies post a net profit of Rs 481.92 million in SQ 2000 |
Silverline Technologies Ltd has posted a net profit of Rs 481.92 million for the quarter ended September 30, 2000 as against Rs 173.49 million for the quarter ended September 30, 1999. Net sales for SQ 2000 stood at Rs 717.90million as compared to Rs 464.31million in SQ 99. Other income for SQ 2000 increased to Rs 212.58 million from Rs 9.22 million in SQ 99.
The Board of Silverline Technologies Ltd have decided, in principle, to make a strategic investment of U.S. $ 12.5 million (equivalent of Rs 5753.75 lacs) to acquire a 6% stake in the equity stock of TIS Worldwide Inc., U.S.A., a U.S. based software services company having operations in 10 offices across the country with over 600 software professionals.
The Company also decided to acquire the entire shareholding of Sky Capital International Ltd, Hong Kong, (consisting of 2 million ordinary shares of HK $ 1 each), a Hong Kong based I.T. consultancy company for a consideration of U.S. $ 22 million. |
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