The Hindu : GACL pays 30 p.c. interim

Online edition of India's National Newspaper
Friday, Apr 11, 2003

Business

Business

GACL pays 30 p.c. interim

By Our Staff Correspondent

MUMBAI APRIL 10. Gujarat Ambuja Cements (GACL) has announced a net profit of Rs. 66.86 crores for the quarter ended March 2003 against Rs. 54.77 crores in the corresponding period of the previous year. The company has declared an interim dividend of 30 per cent.

Net sales for the period were higher at Rs. 546.75 crores against Rs. 430.35 crores. Other income amounted to Rs. 10.34 crores (Rs. 4.64 crores). The operating profit was Rs. 144.79 crores (Rs. 120.77 crores).

The company produced 21.28 lakh tonnes (16.75 lakh tonnes) of clinker and 27.3 lakh tonnes (20.17 lakh tonnes) of cement during the quarter. It sold 27.18 lakh tonnes (20.01 lakh tonnes) of cement during the quarter.

For the nine months ended March 2003, the net profit was Rs. 140.97 crores (Rs. 152.54 crores) on net sales of Rs. 1,467.76 crores (Rs. 1,169.62 crores). Other income amounted to Rs. 25.10 crores (Rs. 18.55 crores). The operating profit for the period was Rs. 369.88 crores (Rs. 356.25 crores).

Hero Honda

Hero Honda's profit after tax soared to Rs. 581 crores, a growth of 25 per cent over last year's Rs. 463 crores. The profit before tax went up to Rs. 885 crores from Rs. 694 crores, registering an increase of 27 per cent. The operating margin was an impressive 15.5 per cent versus 13.9 per cent last fiscal. Total turnover grew to Rs. 5,195 crores, a growth of 14 per cent, from Rs. 4,539 crores 2001-02. The company announced a dividend of 500 per cent and a special dividend of 400 per cent. The company recorded a volume sale of 16.77 lakh motorcycles during the year, registering a jump of 18 per cent over last year's 14.25 lakh units.

ABB

ABB reported statutory results for Q1 2003 with orders up 35 per cent, revenues by 19 per cent and net profit increasing by 41 per cent over Q1 2002. ABB strengthened its order backlog to Rs. 969.40 crores from Rs. 879.40 crores at the beginning of the year and Rs. 812.20 crores in Q1 2002. This is expected to reflect in higher revenue in the coming quarters. Revenues for the quarter at Rs. 290.20 crores increased by 19 per cent over Q1 last year. The net profit after tax at Rs. 8.70 crores was 41 per cent higher than 2002 Q1, as a result of increased revenues and operational efficiency.

Aztech Software

Aztec Software & Technology Services has registered a consolidated net loss of Rs. 4.21 crores for fiscal ended March 31, 2003 against a net profit of Rs. 16.94 crores in the previous year. Total income dropped to Rs. 48.68 crores from Rs. 79.82 crores. The company's Indian arm posted a net loss of Rs. 6.18 crores for the fiscal ended March 31, 2003 against a net profit of Rs. 13.70 crores. The total income dropped to Rs. 48.81 crores from Rs. 78.89 crores.

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