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July 24, 2000
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| Agro Dutch Food records net profit of Rs 41.15 million in JQ 2000 |
| Agro Dutch Foods Ltd has reported a net profit of Rs 41.15 million for the quarter ended June 30, 2000 on a turnover of Rs 127.55 million as against Rs 34.84 million earned in the same period of the previous year ona turnover of Rs 151.79 million. The expenditure for the quarter declined 68.62 million as against Rs 99.94 million in JQ 99. |
| Aventis Cropscience post Rs 29.3 million loss in JQ 2000 |
Aventis Cropscience India Ltd (formerly AgrEvo India Ltd) has incurred a loss of Rs 29.3 million for the quarter ended June 30, 2000 as against a profit of Rs 48.2 million in JQ 99. The sales for the quarter were 10.57% lower at Rs 568.3 million in JQ 2000 as compared to Rs 635.5 million recorded in JQ 99. The other income for the quarter was Rs 5.5 million as against Rs 3.1 million in the same period of the previous year. Interest expended in JQ 2000 increased to Rs 28.5 million from Rs 23.4 million in JQ 99.
Sales returns during the quarter ended June 2000 were Rs 148.5 million, which have resulted in reduction of profit by Rs 48.8 million. Cumulative sales returns for the period January - June 2000 were Rs 223.6 million with a corresponding reduction in profit for the period by Rs 73.4 million. The Company has taken back stocks from the trade due to abrupt end of 1999 cotton season and as a precaution to reduce trade risk.
If the impact of the Non-recurring expenditure, prior period expenditure and sales returns are not considered the profit for the quarter ended June 30, 2000 would be Rs 52.6 million and the EPS would Rs 6.79. Corresponding amounts for the period in the previous year being Rs 48.2 million and Rs 5.23. |
| Vesuvius India net profit Q1 grows 11.67%, sales up by 5.98% |
| Vesuvius India Ltd has reported a net profit of Rs 20.1 million for the quarter ended June 30, 2000 as against Rs 18 million in the corresponding quarter of the previous year. Operating income for the year was 5.98% higher at Rs 145.3 million as against Rs 137.1 million reported for the JQ 99. The other income for the quarter was Rs 11.9 million as against Rs 7 million in JQ 99. Tax provided for the quarter ended June 30, 2000 was Rs 7.34 million (JQ 99 Rs 4.5 million). |
| Jindal Drilling Q1 net profit down by 78.24%, operating revenue decline 19.38% |
| Jindal Drilling & Industries Ltd has reported a net profit of Rs 5.7 million for the quarter ended June 30, 2000 as against Rs 26.2 million reported in the same period of the last year. Net sales for the quarter at Rs 345.7 million were 19.38% lower compared to Rs 428.8 million in JQ 99. The lower turnover of the company in the current quarter was due to repairs of a rig before commencement of new contract. Interest expenditure for the current quarter was Rs 6.4 million (JQ 99 Rs 10.5 million). |
| Tuticorin Alkali post net loss of Rs 47.6 million in June quarter under depressed market conditions |
| Tuticorin Alkali Chemicals and Fertilizers Ltd has incurred a loss of Rs 47.6 million for the quarter ended June 30, 2000 as against a loss of Rs 4.01 million in JQ 99. The sales for the quarter were 7.52% higher at Rs 289.25 million compared to Rs 269.03 million in JQ 99. The company has attributed the poor performance to the depressed market conditions currently prevailing in the Soda Ash market. The interest expenditure increased 97.79% from Rs 18.21 million in JQ 99 to Rs 36.01 million in JQ 2000. |
| Adverse selling price affect Warren Tea's realizations, Q1 net profits decline 44.32% |
| Depressed unit sale price has adversely affected the profitability of Warrant Tea Ltd for the current year. The company earned a net profit of Rs 4.9 million for the quarter ended June 30, 2000 as against Rs 8.8 million it earned in the same period of the last year. The sales at Rs 115.3 million were 7.175 lower compared to Rs 124.2 million it reported for JQ 99. Interest income on the other hand increased 32.61% from Rs 4.6 million in JQ 99 to Rs 6.1 million in JQ 2000. |
| IEC Softwares Q1 net profit up by 171.78%, sales grow 75.71% |
| IEC Softwares Ltd has reported a net profit of Rs 8.54 million for the quarter ended June 30, 2000 as against Rs 3.14 million in same period last fiscal. The sales at Rs 35.35 million are 75.71% higher compared to Rs 20.12 million reported for JQ 99. |
| Torrent Pharma Q1 net profit down by 8.25%, sale rise 18.52% |
| Torrent Pharmaceuticals Ltd has recorded a net profit of Rs 107.9 million for the quarter ended June 30, 2000 as against Rs 117.6 million in same period in the previous year. The sales at Rs 926.7 million were 18.52% higher compared to Rs 781.9 million in JQ 99. Interest expenditure increased 62.76% from Rs 14.5 million in three months ended June 30, 99 to Rs 23.6 million in JQ 2000. |
| SRF Ltd post Rs 179.8 million net profit in Q1, sales grow 7.24% |
SRF Ltd has recorded a net profit of Rs 179.8 million as against Rs 55.8 million in JQ 99. The sales for the quarter were Rs 1688.1 million as compared to Rs 1574.2 million in the same period of the previous year. Other income at Rs 68.7 million arose from the sale of assets (Residential property). prima facie the profits seems to have been increased due to an increase in the interest expenditure and a reduction in NPA provision. The interest expenditure that was Rs 221 million in JQ 99 has come down by 24.61% to Rs 167.6 million. The NPA provision has reduced from Rs 161.7 million in JQ 99 to Rs 25.7 million in JQ 2000.
Other expenditure due to provision towards adverse impact of foreign currency fluctuation has increased to Rs 25 million from Rs 10 million in the corresponding previous quarter. The performance of the company in the current quarter reflects the adverse impact of steep import duty reduction in nylon tyres yarn from 35% to 20% and nylon tyre cord fabric from 40% to 25%. However the duty on Caprolactum (raw material) remained unchanged at 25%. |
| GAIL Q1 net profit up by 106.54% |
| Gas Authority of India Ltd has posted a net profit of Rs 2794.10 million for the quarter ended June 30, 2000 as compared to Rs 1352.80 million. Net sales for the quarter ended June 30, 2000 are up by 50.10% at Rs 23991.20 million as compared to Rs 15983.30 million in JQ 99. Other income has risen from Rs 107.90 million in JQ 99 to Rs 309.40 million for JQ 2000. |
| LML promoters to raise stake through preferential issue |
| LML Ltd has informed BSE that the Indian promoters of the company will increase their stake in the company from 47.21% to 49.89% by issue of 2216067 equity shares on preferential basis at a price of Rs 40/- per share(nominal value of Rs 10/- per share and premium of Rs 30/- per share) |
| Asian Paints suspends operations at Kasna plant |
In a statement issued to the BSE Asian Paints Ltd. has said in view of the sit-n-strike restored to by the workmen the company has suspended operations at its Kasna plant in Uttar Pradesh with immediate effect and has declared its intention to lock out the workmen as and from August 7, 2000.
The company is confident of meeting the demand for its products through additional production at its other paints plants in Mumbai, Ankleshwar and Patancheru as well as through outside processing. |
| Birla Global post Rs 17.7 million net profit in Q1, to spin off retail finance business to subsidiary |
| Birla Global Ltd has posted a net profit of Rs 17.7 million for the quarter ended on June 30, 2000 as against Rs 1.5 million it earned in the same period of the last year. The operating income for the quarter was Rs 17.7 million as against Rs 168.9 million in JQ 99. The company is in the process of spinning off its retail finance business to a wholly owned subsidiary company. A competent firm has completed the valuation of the retail business. The company's recently launched electronic business channel "ebiz.birlaglobal.com has started to generate revenue. Company earned Rs 7.5 million as other income, which includes write back of earlier years excess provision towards doubtful debts. |
| ISPL Q1 net profit up marginally by 9.17%, sales up by 42.73% |
Indian Shaving Products Ltd has reported a 42.73% growth in the net sales for the quarter ended June 30, 2000 though the profits for the quarter grew only by 9.17%. The shaving products leader has clocked a turnover of Rs 828.4 million for the quarter as against Rs 580.4 million in JQ 99. The profits were Rs 51.2 million compared to Rs 46.9 million in JQ 99. Other income was Rs 46 million (JQ 99 Rs 9.7 million). Interest expenditure increased from Rs 11.3 million in JQ 99 to Rs 16.7 million ion JQ 2000.
For the six month period ended June 30, 2000 the company showed a 32.36% growth in sales and a 4.12% growth in net profits. The company earned Rs 88.5 million on a turnover of Rs 1350.7 million as against Rs 85 million it earned in same period of the last fiscal on a turnover of Rs 1020.5 million. Other income for the period was Rs 79.9 million as against Rs 20.3 million in the first half of 1999. Other income is higher on account of job work carried out for Wilkinson Sword India Ltd. Interest expenditure increased 39.25% from Rs 21.4 million in JQ 99 to Rs 29.8 million in JQ 2000.
During this period company has made significant investment in Gillette Franchise Building activities. This has affected profitability in the short term but the company expects that it will provide continuos growth in the long term. |
| Himachal Futuristic post 640.61% rise in net profit in Q1, operating income up by 228% |
Himachal Futuristic Communications Ltd has posted a 640.61% growth in the net profits and a 228% rise in the operating income for the quarter ended June 30, 2000. The telecom major has reported a net profit of Rs 617.19 million on a turnover of Rs 2538.69 million for the quarter ended June 30, 2000. For the same period in the last fiscal the company had earned a net profit of Rs 83.34 million on a turnover of Rs 773.48 million. The other income has also increased drastically from Rs 17.55 million in JQ 99 to Rs 209.2 million in JQ 2000. The increase in other income was mainly from interest earned on surplus funds. The interest expenditure on the other hand declined 57.07% from Rs 48.26 million in JQ 99 to Rs 20.72 million in JQ 2000. The profits after reducing the other income were Rs 407.99 million as against Rs 65.79 million in JQ 99 a growth of 520.14%.
The company is increasing capacity of its optical fibre cable plant from 5000ckm to 15000ckm. HFCL has acquired 100% stake in M/s Page Point Services (India) Ltd. This company is providing paging services under the brand name PAGE POINT and is having a subscriber base of 87000 in four cities namely Mumbai, Pune, Bangalore and Hyderabad. The company has net assets of Rs 347.1 million including licence fee of Rs 88.8 million. |
| Vesuvius acquires Carborandum Universal's fixed assets at Vishakapatnam plant |
Vesuvius India Ltd (Vesuvius) has acquired the fixed assets and the working capital from Carborundum Universal Ltd. (CUMI), for its unit at Visakhapatnam. The acquisition is free from all encumbrances. Vesuvius has also been assigned the technical know-how agreement from ATI Inc., USA, pertaining to the manufacture of monolithic refractories by CUMI. In addition to the value of the net working capital the purchase consideration for the acquisition was Rs 78 million.
This means that Vesuvius has acquired the licence to manufacture & sell the ATI Inc, USA, range of products in India & has added a new manufacturing unit as well as a new product to the current range of products manufactured & sold by the company.
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| Coates of India Q1 net profit declines 30.35%, sales up by 8.62% |
| Coates of India Ltd has reported a 30.35% decline in the net profit for the quarter ended June 30, 2000. The company registered a net profit of Rs 20.24 million on a turnover of Rs 429.59 million as against a profit of Rs 29.06 million it earned on a turnover of Rs 395.5 million in JQ 99. On the equity share capital of Rs 68.86 million the company reported a net profit of Rs 2.94 per share for the quarter as against Rs 4.21 for the same period in the previous year. |
| Voltas Q1 net profit at Rs 7.20 million |
| Voltas Ltd has posted a net profit of Rs 7.20 million for the quarter ended June 30, 2000 as compared to Rs 2/- million for the quarter ended June 30, 99. Net sales for the quarter ended June 30, 2000 are up by 9.74% at Rs 2355.40 million as compared to Rs 2146.40 million for the quarter ended June 30, 99. Other income has grown from Rs 21/- million in JQ 99 to Rs 23.10 million in JQ 2000. |
| Hughes Software Q1 net profit up by 127.45% |
| Hughes Software Systems Ltd has posted an increase of 127.45% in net profit for the quarter ended June 30, 2000. The net profits for the quarter ended June 2000 are at Rs 92.80 million as compared to Rs 40.80 million in the quarter ended June 30, 99. The net sales for the quarter ended June 30, 2000 are up by 81.63% at Rs 358/- million as compared to Rs 197.10 million for JQ 99. Other income has risen from Rs 9.80 million in JQ 99 to Rs 25.50 million in the quarter ended June 30, 2000. |
| Other income helps Frontier information post net profit of Rs 17.32 million in Q4 |
Huge Other income of Rs 10.16 million has helped Frontier Information Technologies Ltd (Frontier) post a net profit of Rs 17.32 million for the quarter ended June 30, 2000 as against Rs 3.51 million in JQ 99. The sales for the quarter were Rs 33.49 million as against Rs 15.6 million in JQ 99.
For the year that ended on June 30, 2000 the Secundarabad based software company has reported a net profit of Rs 27.65 million as against Rs 6.81 million in FY 99. Sales were 206.91% higher at Rs 132.07 million as against Rs 43.03 million in FY 99. Other income for the year was Rs 12.64 million compared to Rs 1.16 million in the previous year.
Having established an office in Sydney, Australia the Frontier is establishing an office in the state of New Jersy, USA. The company already has an office at San Jose, California. The company expects that its branch in Germany will be operational by September, 2000. The Company expects to complete RBI/FIPB approvals for acquisition of 51% stake in Premier Consultancy Services Inc, based in Richardson (Texas), USA by September, 2000.
Frontier has entered into an agreement with the Department of Computer Science, Osmania University, Hyderabad for evaluation and enrichment of KNETS (Knowledge Evaluation and Training System) and the same is likely to be promoted internationally through a subsidiary company in USA. Company's portal, helloap.com, is currently being evaluated by a consulting firm in USA and it plans to commercially launch it by September, 2000.
The company has retired debts outstanding with all the financial institutions including AP Industrial Development Corporation and AP State Financial Corporation. The expansion of company's development center to accommodate 300 software engineers is in progress and is expected to be completed by October, 2000. As per the directive of SEBI Frontier's shares will be traded only in DEMAT form from Sept 25, 2000. |
| Nicholas Piramal Q1 net profit up by 32.75%, sales rise 18.17% |
| Nicholas Piramal India Ltd has reported a 32.755 increase in the net profits and a 18.17% growth in sales for the quarter ended June 30, 2000. The company recorded a net profit of Rs 152 million as against Rs 114.5 million in JQ 99. The sales for the quarter were Rs 1325 million as against Rs 1121.3 million in JQ 99. The company increased its R&D expenditure from Rs 18 million to Rs 23.5 million, an increase of Rs 30.56%. The interest expenditure for the quarter declined 6.59% from Rs 42.5 million in JQ 99 to Rs 39.7 million in JQ 2000. |
| Britannia Industries Q1 net profit up by 27.36%, sales up 15.84% |
| Britannia Industries Ltd has posted a net profit of Rs 135 million for the quarter ended June 30, 2000 as compared to Rs 106/- million for the quarter ended June 30, 99. Net sales for the quarter ended June 30, 2000 are up by 15.84% at Rs 3320 million as compared to Rs 2866 million in JQ 99. Other income has decreased from Rs 22/- million in JQ 99 to Rs 13/- million in the quarter ended June 30, 2000. |
| Exide Industries Q1 net profit at Rs 70.3 million, sales up by 1.3% |
| Exide Industries Ltd has registered a net profit of Rs 70.3 million on a turnover of Rs 1586.3 million for the quarter ended June 30, 2000. The company had earned a net profit of Rs 65 million for the same period in the previous year on a turnover of Rs 1566 million. The company amortized a exceptional item of Rs 8.2 million in the quarter as against Rs 2 million in JQ 99. The exceptional item comprised of Y2K compliance/ ERP implementation costs Rs 3.6 million and VRS payment Rs 4.6 million. |
| Philips introduces VRS scheme at Kalwa plant |
| Philips India Ltd has informed the BSE that it has introduced a Voluntary Retirement Scheme (VRS -2000) effective today July 24, 2000 in the first instance to the employees working at the company's light factory located at 3, MIDC Industrial Area Thane- Belapur Road, Kalwa Thane 400601. The scheme has been taken on record by the Board of Directors at its meeting held on July 17, 2000. |
| Asian Paints Q1 net profit rises 18.53%, sales up by 9.12% |
| Asian Paints (India) Ltd has reported a net profit of Rs 185.5 million for the quarter ended June 30, 2000 reflecting a decent growth of 18.53% over the same period in the last year. The company clocked a turnover of Rs 2495 million in the quarter as against Rs 2287.2 million in JQ 99. The company's net profit for JQ 99 was Rs 156.5 million. The company changed its accounting policy during the quarter to comply with the revised AS-2 issued by the Institute of Chartered Accountants of India. This has resulted in the profits of the company being lower by Rs 16.5 million in the first quarter ended June 30, 2000. Other income at Rs 30.3 million was marginally higher compared to Rs 29.2 million recorded in JQ 99. Interest expenditure for the quarter was Rs 51.3 million as against Rs 58 million in JQ 99. Depreciation increased from Rs 68 million in JQ 99 to Rs 79.5 million in JQ 2000. |
| LIC Housing Finance Q1 net profit up by 43.98% |
| LIC Housing Finance Ltd has posted a net profit of Rs 211.50 million for the quarter ended June 30, 2000 as compared to Rs 146.90 million for the quarter ended June 30, 99. Total Income for the quarter ended June 30, 2000 is up by 25.07% at Rs 1777/- million as compared to Rs 1420.80 million for JQ 99. Interest expended has increased from Rs 1133.30 million for the quarter ended June 30, 99 to Rs 1381.70 million. |
| Hoechst Marion Roussel Q1 net profit up by 42.59% |
| Hoechst Marion Roussel Ltd has posted a net profit of Rs 77 million for the quarter ended June 30, 2000 as compared to Rs 54/- million for the quarter ended June 30, 99. Net Sales for the quarter ended June 30, 2000 are down by 2.62% at Rs 1300 million as compared to Rs 1335/- million for JQ 99. Other income has decreased from Rs 22 million in JQ 99 to Rs 19/- million in JQ 2000. |
| BSES Ltd clarifies on newspaper reports about BSES TeleCom ADR issue |
In a clarification issued to the BSE, BSES Ltd has stated with reference to a news appearing in a financial daily that BSES TeleCom Ltd - its subsidiary, is currently finalizing its business plan and the possible means of finance for the capital expenditure that may be required to be incurred on its proposed projects over the next two years. For speedy implementation of these projects BTL would finalize is optimum ways and means including plans to raise funds from the Capital Markets.
However, at the moment, the entire proposal is in the planning stage, as mentioned in the press report and detailed and specific proposals are under finalization. |
| Perfect Circle Victor Q1 net up 46.07% |
| Perfect Circle Victor Ltd has posted a net profit of Rs 13/- million for the quarter ended June 30, 2000 as compared to Rs 8.90 million in JQ 99.The net sales for the quarter ended June 30, 2000 are at Rs 229.10 million as compared to Rs 211.10 million for the quarter ended June 30, 99. Other income has risen from Rs 1.80 million in JQ 99 to Rs 2.80 million in JQ 2000. |
| SBI Home Finance Q1 net loss at Rs 54.40 million |
SBI Home Finance Ltd has posted a net loss of Rs 54.40 million for the quarter ended June 30, 2000 as compared to a net loss of Rs 48.30 million for JQ 99. The total income for the quarter ended June 30, 2000 is down by 28.72% at Rs 97.38 million as compared to Rs 136.61 million in JQ 99.
The Company has a restructuring package now in place which is designed to turn the Next Worth of the Company positive within a reasonable period of time. |
| Centurion Bank to consider rights issue, ESOP |
The Board of Directors of Centurion Bank Ltd will meet on July 31, 2000 to
1. Consider & Approve the unaudited quarterly results for the quarter ended June 30, 2000
2. Raising of Additional Capital Issue by way of a Rights Issue
3. Employee Stock Option Scheme (ESOP scheme)
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| BPL Engineering Q1 net profit up by 5.56% |
| BPL Engineering Ltd has posted a net profit of Rs 19.92 million for the quarter ended June 30, 2000 as compared to Rs 18.87 million for JQ 99. The total income for the quarter ended June 30, 2000 is down by 2.16 % at Rs 411.49 million as compared to Rs 420.57 million for the quarter ended June 30, 99. |
| Gajra Bevel to issue shares on private placement basis |
| The Board of Directors of Gajra Bevel Gears Ltd at its meeting held on July 19, 2000 has decided to issue equity shares for an amount not exceeding Rs 16.30 million by way of a private placement. The Board has also decided to take approval from shareholders in the forthcoming AGM of the company scheduled to be held on September 29, 2000. |
| Zenith Health Care files petition with High Court for scheme of reduction in share capital |
| Zenith Health Care Ltd.has informed BSE that, it has filed an petition with the Hon'ble High Court of Gujarat for Scheme of reduction and reorganisation of share capital of the company and scheme of amalgamation of Mega Capital Ltd. with the company. The petition is fixed for hearing on Thursday, 27th July 2000. |
| PSM Spinning Mills to issue equity shares on private placement basis |
The Board of Directors of PSM Spinning Mills Ltd, has approved, subject to necessary approvals, the issue of Equity shares on private placement to the promoters and their associates and/or financial institutions and/or investment institutions and/or Foreign Financial Institutions whether or not registered with SEBI or not and/or NRIs and/or OCBs etc. for an amount not exceeding Rs.50 million.
The issue is proposed to finance the on going modernisation programme under Technology upgradation fund scheme announced by Govt. of India to modernise textile industry as well as to meet the long term working capital requirements.
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| Boston Education and Software to split equity shares |
The Board of Directors of Boston Education and Software Technologies Ltd.has decided as under
1. To sub-divide each of existing equity shares of Rs.10/- each into two equity shares of the face value of Rs 5/- each.
2. To make a public issue of upto 50 lacs equity shares of the face value of Rs.5/- each at such price as may be determined by the Board at the time of issue consultation with Merchant Bankers. |
| Paper Products June quarter net profit up by 108% |
| Paper Products Ltd has posted a net profit of Rs 31.20 million for the quarter ended June 30,2000 as compared to Rs 15/- million for the quarter ended June 30, 99. The net sales for the quarter ended June 30, 2000 are up by 30.14% at Rs 706.90 million as against Rs 543.20 million in JQ 99. Other income has decreased from Rs 8.90 million in JQ 99 to Rs 8/- million in JQ 2000. |
| BSES Q1 net profit at Rs 863.8 million, Turnover declines 11.38% |
| BSES Ltd has reported a net profit of Rs 863.8 million for the quarter ended June 30, 2000 as against Rs 876.1 million, a decline of 1.4%. The sales for the quarter were however 1138% lower at Rs 5878.8 million as compared to Rs 6634 million reported in the same period of the last year. The sales for the quarter comprised of Rs 5442.5 million (JQ 99 Rs 4700.8 million) from electrical energy and Rs 436.3 million (JQ 99 Rs 1933.2 million) from EPC, Contracts and computer services. Other income for the quarter was Rs 264.7 million as against Rs 263.6 million in JQ 99. Interest expenditure declined 27.56% from Rs 175.6 million in JQ 99 to Rs 242.4 million in JQ 2000.The company has attributed the lower profitability and turnover to the late commencement of a number of EPC contracts. |
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