Cummins India earnings up in Q3

Cummins India has reported higher net sales of Rs. 227.20 crores for the quarter ended December 31, 2000 against Rs. 211.70 crores in the corresponding quarter in the previous year. Growth in export sales was three per cent over the corresponding period. The company has earned a profit after tax of Rs. 25.70 crores against Rs. 21.10 crores.

For the nine months ended December 31, 2000, the company has earned a profit after tax of Rs. 74.20 crores on net sales of Rs. 626.90 crores. This represents an increase of seven per cent in net sales and 22 per cent in net profit after tax in comparison to the same period of the previous year. The company has a growth in export sales of eight per cent during the nine months period ended December 31, 2000.

SSI

SSI has achieved a net profit, before extraordinary items, of Rs. 27.86 crores for the second quarter ended December 31, 2000, an increase of 187 per cent over the corresponding period. Total revenues were higher by 190 per cent at Rs. 123.78 crores. Of this income from operations is Rs. 115.80 crores.

``This has been a satisfying and significant quarter for us. We have also completed the acquisition of AlbionOrion as planned,'' said Mr. Kalpathi S. Suresh, Chairman and CEO. Of the total operating income of Rs. 115.80 crores, the education division accounted for Rs. 63.44 crores, the technologies division Rs. 46.03 crores and the enterprise support division Rs. 6.30 crores.

Ramco Systems

Ramco Systems revenue for the nine months ended December 31, 2000 was higher at Rs. 94.32 crores against Rs. 73.91 crores. Earnings before interest, depreciation, taxation and amortisation was Rs. 13.71 crores against Rs. 14.99 crores. After providing for depreciation and amortisation of research and development expenditure, the cumulative net profit is Rs. 54.71 lakhs against a loss of Rs. 3.26 crores.

The global revenue, including revenues from the four subsidiaries has increased to $36.36 million from $24.40 million. After excluding system integration revenues, Ramco Systems has achieved a sales growth of nearly 75 per cent on its software revenues globally.

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