Hind. Lever Chemicals

Hindustan Lever Chemicals (HLCL) has reported a net profit of Rs. 3.99 crores for the quarter ended March 2001 on a turnover of Rs. 220 crores.

The sale of own manufactured fertilizers showed a growth of 72 per cent during the March quarter 2001. Total turnover was marginally lower compared to the corresponding quarter of the previous year mainly due to the suspension of imported DAP trading operations, which have become unviable due to unremunerative subsidy policy of the Government on imports.

The gross profit before depreciation, interest and tax was higher at 5.9 per cent of sales, compared to 5.2 per cent in 2000. This was due to sustained focus on cost reduction, improved manufacturing productivity and discontinuation of traded DAP (imported) operations which had turned unviable.

The company has maintained its premier position in the fertilizer operations in the eastern region. The bulk chemicals (STPP) division's turnover was up 7 per cent.

Against a profit before tax of Rs. 4.34 crores in March quarter 2001, the comparable underlying profit before taxes for the corresponding period of the previous year is Rs. 2.36 crores after netting off the differential price concession of Rs. 5.07 crores pertaining to the period October 1, 1998 to March 31, 1999 announced by the government in March 2000 and adverse impact of Rs. 2.81 crores relating to March quarter 2000 operations announced by the government subsequently and hence recognised in June quarter 2000 results.

Goldstone Tech

Goldstone Technologies (GTL) reported revenues of Rs. 45.72 crores and net profit of Rs. 8.54 crores for the nine months ended March 31. Software income accounted for Rs. 30.25 crores (Rs. 8.20 crores).

GTL became a software company after demerger of its telecom division named Goldstone Teleservices Limited (GTSL), effective January 1, 2001.

For the quarter ended March, GTL posted a 96 per cent growth in software revenues to Rs. 7.85 crores and a 36 per cent growth in net profit to Rs. 1 crores.

For the nine months, GTL, including its subsidiaries reported revenues of Rs. 74 crores and net profit of Rs. 13 crores. Software income accounted for Rs. 49.48 crores and the net profit was Rs. 13 crores (Rs. 5.90 crores).

A press release said its U.S. subsidiaries generated Rs. 8 crores revenue in third quarter.

Goldstone Teleservices (GTSL), which is to be listed soon, posted revenues of Rs. 11.65 crores and a profit of Rs. 2 crores for the third quarter, reflecting a growth of 58 per cent and 73 per cent respectively over the corresponding period of the previous year. Together with its subsidiaries - Newtech Stewing Telecom and Shree Shree Telecom - it posted revenues of Rs. 14 crores (Rs. 13.22 crores) and net profit of Rs. 2.44 crores (Rs. 2.10 crores).

Send this article to Friends by E-Mail

Section  : Business
Previous : TCS commissions Asia's largest eServer from IBM
Next     : Damanis likely to up offer price for VST