Indo Gulf Corporation net at Rs. 50.47 cr.

Indo-Gulf Corporation, an Aditya Birla group company, has posted a 16.45 per cent increase in net profit at Rs. 50.47 crores for the quarter ended June 30, 2001 against Rs. 43.34 crores in the same period last fiscal.

Net sales for the reporting quarter stood at Rs. 581.19 crores against Rs. 446.69 crores. The company's copper division sales have risen by 48 per cent to Rs. 456.83 crores from Rs. 309.31 crores. Its export volumes soared by over 5,000 tonnes against 1,487 tonnes in the corresponding quarter last year while domestic volumes registered a nine per cent growth despite the slowdown in the economy.

Voltas

Voltas has registered a profit of Rs. 1.77 crores for the quarter ended June 30, 2001 against Rs. 72 lakhs in the corresponding quarter last year. Sales and income showed a 12.9 per cent rise during the quarter at Rs. 255.22 crores against Rs. 226.05 crores.

Extraordinary expenses for this quarter include amortisation of voluntary retirement scheme expenses of Rs. 7.09 crores (Rs. 4.56 crores), provision for loss of subsidiary company Rs. 23 lakhs (nil), profit on sale of plant and machinery Rs. 94 lakhs (nil), profit on sale of property and compensation on surrender of tenancy rights Rs. 2.3 crores.

MRO-TEK

MRO-TEK has achieved a total revenue of Rs. 13.31 crores and a profit after tax of Rs. 79.49 lakhs for the first quarter of 2001-02. Though the profit for the quarter under reference is low as compared to the same period in the previous year, the outlook seems to be positive. Year-to year justification would be more apt to judge a company engaged in networking business, according to Mr. S. Narayanan, Chairman of the company.

The lower turnover has been attributed to the global slow down. However, the trend seems to be reversing and Mr. Narayanan is optimistic that the revenue would grow at 20 per cent as compared to a revenue of Rs. 125.43 crores for the whole of 2000-01.

The company has been upgrading the manufacturing lines. It is also strengthening its marketing offices in Mumbai and Delhi for providing technical support to customers which will enhance the company's earning momentum.

The company foresees more growth potential for networking products from call centres, banking and finance, defence and corporates.

The company will be bringing in new products and technology such as bandwidth accelerator which enables the throughput to almost four times, secured VPN which is required for banking industry and voice over IP products for private networks.

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