Automobiles
M&M back to 6-day week
AUTOMOBILE major, Mahindra & Mahindra Ltd (M&M), has restored the normal six-day week schedule at its manufacturing plants.
Corporate
P.S. Bhatnagar joins Indo Rama board
INDO Rama Synthetics (India) Ltd (IRSL) has inducted Mr P.S. Bhatnagar, hitherto an advisor to IRSL's management, as a member of the board of directors of the company. His induction was approved at a meeting of the company's board here.
Crisil board revamped
MUMBAI: CRISIL has revamped its board of directors. At the board meeting held on October 24, Mr Edward Emmer, Executive Managing Director -- Corporate and Government Services of Standard and Poor's International Ratings Ltd, was appointed as a director o
n the board, according to a press release.
BHPV bags Chennai Petroleum order
HYDERABAD: The Visakhapatnam-based Bharat Heavy Plate and Vessels Ltd (BHPV), a Government of India enterprise and a subsidiary of Bharat Yantra Nigam Ltd, has bagged a major order from Chennai Petroleum Corporation Ltd to manufacture 130-tonne high-pres
sure oil-fired boiler.
Case for easing SME disclosure norms
THE National Advisory Committee on Accounting Standards (NACAS) has assessed the orientation of the existing accounting standards issued by the Institute of Chartered Accountants of India (ICAI) in meeting the growth aspirations and needs of the small an
d medium-scale enterprises (SMEs) in the country.
Financial Performance
Indo Gulf net up on buoyant sales
Indo Gulf Corporation Ltd (IGCL) has reported a 46.5 per cent increase in net profit at Rs 76.24 crore for the second quarter of 2001-2002 as compared to Rs 52.04 crore in the year-ago period.
Lakshmi Auto net profit at Rs 4.07 crore
Lakshmi Auto Components Ltd has reported a net profit of Rs 4.07 crore for the first half of the current year, as against Rs 5.80 crore in the same period last year - a decline of 29.82 per cent.
Shasun Chem's net down 19%
SHASUN Chemicals and Drugs Ltd has registered a net profit of Rs 2.73 crore during the second quarter of 2001-2002, a drop of 19.23 per cent from Rs 3.38 crore in the previous corresponding period.
EIH net slumps 79 pc
KOLKATA: EIH Ltd, a member of the Oberoi group, has recorded a drop of 79 per cent in profit after tax (after adjusting against both current and deferred tax) at Rs 1.73 crore for the second quarter ended September 30, 2001 as against Rs 8.29 crore recor
ded in the corresponding quarter of 2000-2001.
Sundram Fasteners H1 net dips 18 pc
CHENNAI: Sundram Fasteners Ltd has reported a net profit of Rs 15.78 crore for the first six months of the current year, as against Rs 19.18 crore in the same period last year - a decline of 17.72 per cent.
Parke-Davis net climbs 34 pc
PARKE-DAVIS India Ltd has registered a 34 per cent increase in net profit at Rs 5.16 crore for the quarter ended September 30, 2001, as against Rs 3.83 crore in the corresponding period last year.
Eveready net profit at Rs 14-cr
KOLKATA: Eveready Industries India Ltd, the flagship company of Mr B.M. Khaitan, has registered a net profit of Rs 14.02 crore for the half-year ended September 31, 2001. Net profit for the second quarter was Rs 20.52 crore.
Heritage Foods net at Rs 2.35-cr
HYDERABAD: Heritage Foods (India) Ltd has posted a turnover of Rs 38.55 crore, other income of Rs 10.15 lakh and a net profit of Rs 2.35 crore during the second quarter of the current fiscal.
Morepen Labs net up 15 pc
NEW DELHI: Morepen Laboratories Ltd has clocked a gross revenue of Rs 119.17 crore for the quarter ended September 30, 2001. This was up 13 per cent from the gross sales of Rs 105.16 crore registered in the corresponding period in the previous year.
Nagarjuna Fertilizers PBT at Rs 19.65 cr
HYDERABAD: Nagarjuna Fertilizers and Chemicals Ltd (NFCL) has posted a turnover of Rs 362.27 crore, other income of Rs 11.6 crore and a profit after tax of Rs 19.65 crore for the quarter ended September 2001.
Lakshmi Mills net turns negative
COIMBATORE: Lakshmi Mills Company Ltds net has turned negative for the second quarter of 2001-2002 fiscal. But for the `other income earned, the loss account of the company would have been still wider.
Super Spinning
Despite a 24 per cent jump in net sales/operative income, Super Spinning Mills Ltd has managed to close the second quarter ending September 30, 2001 with a net profit of Rs1.26 crore as against Rs1.20 crore realised for the same period in 2000.
Kinetic Motor H1 net up 15%
TWO-WHEELER manufacturer Kinetic Motor Company Ltd announced on Monday the company has recorded higher revenues at Rs 211 crore in the first half of the current fiscal as compared to Rs 209 crore in the same period the previous year.
HCC turnover higher
MUMBAI: Hindustan Construction Company Ltd has announced a net profit of Rs 23.79 crore for the quarter ended September 30, 2001 (Rs 0.12 crore).
Indal posts record H1 net, sales
INDIAN Aluminium Co Ltd has recorded a gross turnover of Rs 678.5 crore for the six months ended September, 2001. Net profit for the period stood at Rs 59.4 crore.
Indal: A lacklustre show
INDIAN Aluminium (Indal), the aluminium downstream major belonging to the Aditya Vikram Birla group, has turned in a lacklustre earnings performance for the second quarter ended September 30, 2001.
Tata Chem Q2 net down 8 pc
TATA Chemicals Ltd has reported an eight per cent decline in net profit at Rs 43.41 crore for the second quarter of 2001-2002 against Rs 47.35 crore in the year-ago period.
Raymond posts Rs 40.83-cr net in Q2
RAYMOND Ltd (Raymond) has announced a $3-million acquisition in Portugal, besides a net profit of Rs 40.83 crore for the quarter ended September 30, 2001 (second quarter), as against a loss of Rs 151.70 crore in the same period the previous year.
Jaiprakash Ind net at Rs 23.22 crore
NEW DELHI: Jaiprakash Industries Ltd (JIL) has reported a net profit of Rs 23.22 crore for the quarter ended September 30, 2001. The company had reported a net profit of Rs 6.57 crore for the quarter ended September 30, 2001.
Parry Agro's sales, net up
CHENNAI: Parry Agro Industries Ltd, part of the Murugappa group, has registered a net profit of Rs 2.09 crore on sales of Rs 20.90 crore for the quarter ended September 30, 2001 against a net profit of Rs 1 lakh on sales of Rs 19.56 crore for the same pe
riod last year.
P&G Hygiene Q3 net at Rs 19.6 cr
PROCTER & Gamble Hygiene and Health Care Ltd (PGHH) has posted a net profit of Rs 19.61 crore for the third quarter ended September 30, 2001 compared to Rs 18.54 crore in the corresponding period last year.
Parrys Confectionery Q2 net at Rs 1.92 cr
PARRYS Confectionery Ltd (PCL) has registered a net profit of Rs 1.92 crore on a turnover of Rs 25.14 crore for the quarter ended September 30, 2001 against a net loss of Rs 1.54 crore on a turnover of Rs 28.03 crore for the corresponding period last yea
r.
Castrol Q3 net down 26 pc at Rs 22.23 cr
CASTROL India Ltd has registered a 26 per cent drop in net profit at Rs 22.23 crore in the quarter ended September 30, 2001 as against Rs 28.17 crore in the corresponding period last year.
Vikrant posts loss
BANGALORE: Vikrant Tyres has made a net loss of Rs 3.24 crore of a net sales of Rs 124.51 crore (Rs 120.15 cr) in the quarter ended September 30, 2001, as against Rs 33 lakh profit in the same period last year.
Videocon Q2 net at Rs 39.38 cr
VIDEOCON International Ltd has posted a net profit of Rs 39.38 crore for the second quarter ended September 30, 2001 compared to Rs 36.84 crore during the same period in the previous year.
TNPL net at Rs 14.31 cr
CHENNAI: Tamil Nadu Newsprint and Papers Ltd (TNPL) has posted a net profit of Rs 14.31 crore on net sales of Rs 133.10 crore for the quarter ended September 30, 2001, a 22 per cent drop in profit and a 10 per cent decline in sales over the same period l
ast year.
Petroleum
Naik to discuss phase-out of subsidies with Sinha tomorrow
THE Union Minister for Petroleum and Natural Gas, Mr Ram Naik, today said he would hold discussions with the Finance Minister on October 31 to discuss phasing out subsidies on petro products.
Pharmaceuticals
Novartis move on Novo Nordisk
HYDERABAD: Dr Reddy's Laboratories Ltd (DRL) announced here on Monday that Novartis Pharma AG has decided not to continue its collaboration with Novo Nordisk for the commercialisation of DRF-2725, the dual-acting insulin sensitiser compound that was earl
ier outlicensed by Dr Reddy's in favour of Novo Nordisk.
Stocks
Segmental reporting made mandatory
MUMBAI: The Securities and Exchange Board of India (SEBI) has made segmental reporting mandatory from the quarter ending December 31, 2001.
Tata panel to examine insider trading charge
BOMBAY House has set up an internal committee to independently establish the veracity of the insider trading charges against the senior Tata Sons Director, Mr J.E. Talaulicar.
