Titan Industries' profit up

Titan Industries has reported a 20 per cent increase in net profit to Rs. 23.48 crores in the year ended March 31, 2001 from Rs. 19.28 crores. Income increased by 10 per cent to Rs. 708.53 crores from Rs. 643.35 crores in the previous year with watch division contributing Rs. 487.48 crores (Rs. 468.22 crores). The jewellery business recorded an income growth of 32 per cent to Rs. 203.91 crores from Rs. 154.07 crores. Exports were up by six per cent to Rs. 45.39 crores from Rs. 42.70 crores. The directors have recommended a dividend of 26 per cent.

Dharani Sugars

Dharani Sugars and Chemicals has reported a net profit of Rs. 1.75 crores in the 12 months ended December 31, 2001 against Rs. 1.46 crores in the corresponding period. Sales, inclusive of excise duty, were Rs. 150.86 crores against Rs. 148.95 crores. Other income accounted for Rs. 17.58 lakhs (Rs. 46.77 lakhs).

Interest charges were higher at Rs. 31.17 crores (Rs. 29.06 crores). The provision for depreciation is Rs. 1.75 crores.

In the quarter ended March 31, 2001, net sales were Rs. 35.52 crores against Rs. 36.68 crores in the corresponding period in 1999-2000. The profit after tax is Rs. 5.94 crores against Rs. 6.93 crores.

Pentagon Global

Pentagon Global Solutions has reported a net profit of Rs. 8.10 crores on a total income of Rs. 35.95 crores in the year ended March 31, 2001 against a net profit of Rs. 1.69 crores on an income of Rs. 7.21 crores. The directors have recommended a dividend of six per cent.

SICAL

The turnover of South India Corporation Agencies Limited (SICAL) has crossed the Rs. 2,000 crore mark to touch Rs. 2,191.96 crores in the year ended March 31, 2001 from Rs. 1,939.60 crores in the previous year. The gross profit before depreciation and interest charges has risen to Rs. 116.04 crores from Rs. 107.85 crores. Interest charges were higher at Rs. 69.20 crores (Rs.57.75 crores).

Depreciation claimed Rs. 13.80 crores (Rs.14.49 crores) and taxation Rs. 11.52 crores (Rs. 9.60 crores). The net profit stood at Rs. 21.51 crores against Rs. 23.61 crores.

The directors have reduced the dividend to 15 per cent from 25 per cent in the previous year. The logistics division continued to perform well during the year under reference handling 30 million tonnes of bulk cargo, an all time high.

NFCL

Amidst falling revenues and profits, the directors of Nagarjuna Fertilizers and Chemicals (NFCL), who met here on Thursday, decided to extend the current financial year by three months to end on June 30. A press release however said this was in view of the large amount of subsidy claims of the company yet to be settled by the Government.

It also considered the fourth quarter results (unaudited) which showed a lower income of Rs. 267 crores against Rs. 376 crores in the corresponding period of the previous year. It reported a loss of Rs. 4.58 crores against a profit of Rs. 38.87 crores.

For the year ended March 2001, income was Rs. 1,231 crores (Rs. 1,435 crores). The profit before tax was Rs. 64 crores (Rs. 148 crores). An amount of Rs. 5.42 crores has been provided for tax.

Production for the year however was higher at 13.65 lakh tonnes (12.97 lakh tonnes). In the fourth quarter also production was higher at 3.08 lakh tonnes (2.78 lakh tonnes).

JK Industries

JK Industries has posted a turnover of Rs. 1,342.77 crores for the year ended March 31, 2001. The profit after tax stood at Rs. 16.59 crores and the board of directors of the company has recommended a dividend of 20 per cent.

According to a company release, despite slowdown in the economy, which impacted the demand for automobile tyres, JK Tyre increased its production and sales volumes. The company notched a growth of four per cent against the industry average of 0.2 per cent in the four-wheeler segment.

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