Aurobindo Pharma's Q1 profit falls

Aurobindo Pharma has registered a lower total income of Rs. 189 crores and a sharp fall in net profit to Rs. 11.27 crores for the first quarter ended June 30, 2001. During the corresponding quarter of the previous year, total income was Rs. 216 crores and the net profit Rs. 21 crores.

However the company said that the first quarter performance reflected the short term effect of its `restructuring' strategy. The company has embarked on a major restructuring and modernisation of its production facilities to make them compliant with U.S. FDA/European regulations. The company has set its sight on becoming an R&D led international pharma company in the next couple of years, it said.

As part of its programme of cutting down high cost facilities, it closed down the Pondicherry plant. Major revamping of the Srichakra bulk drug facility was undertaken during the quarter resulting in fall in capacity utilisation.

Apollo Hospitals

Apollo Hospitals Enterprise has reported a turnover of Rs. 85.90 crores for the first three months ended June 30, 2001 against Rs. 75.90 crores in the same period in the previous year. The earnings before interest and depreciation went up by 4.2 per cent over the previous comparable period. The operating expenditure on the new projects marginally affected the profit. The net profit after taxation stood at Rs. 6.50 crores against Rs. 7.30 crores in the same period last year.

The 30-bed hospital at Tondiarpet (Chennai) and the 106 bed Sindoori complex adjacent to the main hospital commenced full- scale operations during the quarter under reference.

Apollo Hospitals has a network of 17 owned hospitals (three to be commissioned) and has built and managed 33 hospitals.

During the current quarter it plans to add another 250 beds in Raichur. The hospital projects in Bilaspur (250 beds) and Sri Lanka (300 beds) will be commissioned in the next quarter.

Shree Rama Multitech

For the three months period ended 30th June, 2001, Shree Rama Multi-Tech has registered a total income of Rs. 61.74 crores (Rs. 54.64 crores). The profit before interest, depreciation and tax for the quarter stood at Rs.26.72 crores (Rs.24.93 crores). After providing Rs.8.04 crores (Rs.6.05 crores) towards interest, Rs.6.03 crores (Rs.4.42 crores) towards depreciation and Rs.2.51 crores (Rs.2.95 crores) towards provision for taxation, the profit after tax for the quarter stood at Rs.10.14 crores (Rs.11.51 crores).

For the nine months period ended 30th June, 2001, the total income of the company stood at Rs.176.78 crores (Rs.149.09 crores) and the profit after tax stood at Rs.32.43 crores (Rs.32.93 crores).

Kaashyap Radiant

Kaashyap Radiant Systems has increased its income from operations to Rs. 9.59 crores in the third quarter ended June 30, 2001 from Rs. 7.76 crores and the gross profit before depreciation and interest charges stood at Rs. 2.23 crores against Rs. 2.49 crores in the same period last year.

The net profit was lower at Rs. 1.55 crores against Rs. 1.90 crores in the same period last year.

Vam Organic Chemicals

Vam Organic Chemicals has registered an impressive increase in both income from operations and profit during the first quarter of the year 2001-02 over the corresponding period in the previous year. It made a net profit of Rs.4.61 crores during the quarter on income from operations of

Rs.221.36 crores as compared to a net profit of Rs.3.24 crores on income from operations of Rs.187.25 crores in the corresponding period of the previous year registering an impressive growth of 18 per cent and 42 per cent in sales and net profit respectively over the corresponding period in the previous year.

Export sales of the company during the first quarter were at Rs.22.20 crores as compared to previous year of Rs.12.26 crores, registering growth of 81 per cent as compared to previous year. interest charges during the period were Rs.10.93 crores (11.21 crores), depreciation Rs.5.89 crores (5.84 crores).

Indian Hotels

Indian Hotels Company has reported a 18.15 per cent lower net profit at Rs.12.08 crores for the first quarter ended June 30, 2001 against Rs. 14.76 crores in the corresponding period last fiscal.

The company's total income in the reporting quarter was up at Rs. 163.16 crores as against Rs. 144.46 crores in the same period last year.

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