Aksh Optifibre posts Rs 100.18 million as net profit in Q1

Aksh Optifibre Ltd has posted a net profit of Rs 100.18 million for the quarter ended June 30, 2001 as against Rs 3.12 million for the quarter ended June 30, 2000. Net Sales for the quarter ended June 30, 2001 is at Rs 520.04 million as against Rs 187.00 million for the quarter ended June 30, 2000. Other Income is at Rs 2.96 million in JQ 2001 as against Rs 0.13 million in JQ 2000. The Board of Directors has declared the interim Dividend @ Rs 1 per Equity Share. Due to slowdown in US, the contract for export of optical fibre cable aggregating to US $ 170 mn is in abeyance. The BSNL tender in which Aksh was L1 has yet to be decided, the orders in hand approx Rs 800 million. The Company has also informed that Mr. Amit Sharma has been appointed as an Alternate Director to Mr John Levack, Director of the Company to attend the meetings of the Board of Directors and its committee in his absence.

Vashisti Q1 net up by 6.87%

Vashisti Detergents Ltd has posted a net profit of Rs 17.10 million for the quarter ended June 30, 2001 as compared to Rs 16 million in the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 563.20 million as compared to Rs 584.30 million in JQ 2000.

Cabot India Q1 net down by 14.37%

Cabot India Ltd has posted a net profit of Rs 14.30 million for the quarter ended June 30, 2001 as compared to Rs 16.70 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 364.30 million as against Rs 312.80 million posted in JQ 2000. Based on the open offer made by the Foreign Collaborators, the combined shareholding of Cabot, UK & Cabot, USA, stands increased to 92.47% with effect from July 20, 2001. As the non-promoters share-holding has dropped to less than 10% (now 7.53%), the Company has been informed by Cabot, UK that they propose to make a second offer at the same offer price of Rs 100/- each which may result in de-listing of Company's equity shares on Bombay/National Stock Exchanges (BSE/NSE), as per applicable statutory regulations.

Geometric Software invests in convertible preferred stock of OnCourse Tech

In a communication issued to BSE Geometric Software Solution Co. Ltd has informed that the company has entered into an agreement and invested an amount of USD 192,000 into convertible preferred stock of OnCourse Technology , Inc., a U.S. based corporation. The Company has further informed that the aforesaid agreement is expected to result in increased business to the Company.

Trigyn Technologies Q1 results on July 31, 2001

A meeting of the Board of Directors of Trigyn Technologies Ltd is scheduled to be held on July 31, 2001 to consider unaudited results for the quarter ended June 30, 2001.

Britannia clarifies on news item

With reference to the news article appearing in a leading financial daily titled " Britannia in pact with DDIL, to pump in Rs 43 cr for 50%" Britannia Industries Ltd has informed BSE that the Company holds 11% stake in Dynamix Dairy Industries Ltd (DDIL) and has the option to increase its stake in DDIL upto 50% till September 30, 2001.

Mid-Day Multimedia Q1 net down by 50.16%

Mid-Day Multimedia Ltd has posted a net profit of Rs 15 million for the quarter ended June 30, 2001 as against Rs 30.10 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 225.60 million as against Rs 216.30 million for the quarter ended June 30, 2000.

Global Tele Q1 PAT down by 12.88%

Global Tele-Systems Ltd has posted a profit after tax of Rs 270.87 million for the quarter ended June 30, 2001 as against Rs 310.90 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 1338.08 million as compared to Rs 1232.16 million in the quarter ended June 30, 2000. During JQ 2000, the Company had earned an extra-ordinary income of Rs 1319 million after consideration of which the profits for the quarter ended June 30, 2000 stood at Rs 1629.90 million. The net profit for the current quarter ended June 30, 2001 is at Rs 270.87 million. The Company has reported that while the revenues of the erstwhile Global Electronic Commerce Services Limited (GECS)continued to grow, the traditional revenues of GTL such as Software System Integration E-Commerce Consultancy, IPR/Licensing have been affected due to the slowdown in the International and Domestic markets causing pressure on the margins. Pursuant to the scheme of amalgamation of GECS with the Company, the Company has allotted 26,528,566 equity shares on April 2, 2001 to the shareholders of GECS. The Company continues to increase its infrastructure and manpower in USA, Europe and Asia Pacific markets. While this will add to immediate costs, the benefits of these operations is expected to accrue over a period in time. The Company has also reported that it anticipates the general economic slowdown to continue in the ensuing quarters, in the domestic as well as the international markets, which may have an adverse impact on demand for products and services being offered by the Company. This is expected to affect the performance of the Company for the year.

Chennai Petroleum Q1 results on July 28, 2001

A meeting of the Board of Directors of Chennai Petroleum Corporation Ltd is scheduled to be held on July 28, 2001 to consider and take on record the Unaudited Financial Results for the Quarter ended June 30, 2001.

Presentation on Bio Technology at Dr. Reddy's

Dr Reddy's Laboratories Ltd has informed BSE that Dr Jayaram Chigurupati, Executive Vice President (Emerging Business) would be giving a presentation on Bio Technology at Dr. Reddy's to a group of media people on the July 23, 2001.

Essel Packaging Q1 results on July 31, 2001

A meeting of the Board of Directors of Essel Packaging Ltd is scheduled to be held on July 31, 2001 to consider and approve the unaudited financial results of the Company for the first quarter and three months ended June 30, 2001.

Aptech Q2 results on July 30, 2001

A meeting of the Board of Directors of Aptech Ltd is scheduled to be held on July 30, 2001 to consider the Unaudited Financial Results for the quarter ended June 30, 2001.

IDBI Q1 results on July 30, 2001

A meeting of the Board of Directors of Industrial Development Bank of India is scheduled to be held on July 30, 2001 for considering the audited financial accounts of the Bank for the quarter ended June 30, 2001.

Shree Rama Multi-Tech Q3 results on July 30, 2001

The meeting of the Board of Directors of Shree Rama Multi-Tech Ltd is scheduled to be held on July 30, 2001 to take on record the Financial Results of the Company for the Quarter ended on June 30, 2001.

Tata Engineering and PSA Peugot Citroen decide to call off proposed venture

Tata Engineering & Locomotive Co. Ltd has informed BSE that the feasibility study announced by the Company in January 2001 for developing a mid-size passenger car based on a PSA Peugot Citroen platform for manufacture by Tata Engineering has been completed. The viability of the business case has been found to be adversely affected by the high logistics costs between Europe and India as well as the limited volumes in the Indian market for this type of car. Tata Engineering and PSA Peugot Citroen have accordingly decided not to go forward with the programme at this time.

HEG Q1 net up by 26.96%

HEG Ltd has posted a net profit of Rs 105 million for the quarter ended June 30, 2001 as against Rs 82.70 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 1344.80 million as against Rs 1202.10 million for the quarter ended June 30, 2000. The Company has reported that its Hydro Electric plant being seasonal in nature, remained closed during the quarter. It is expected to significantly contribute to the profitability during remaining part of the year. The Graphite Electrode capacity expansion to 30,000 MT is nearing completion. The Graphite Electrodes Production and Exports were up by 21% and 24% respectively.

Moser Baer Q1 results on July 30, 2001

A meeting of the Board of Directors of Moser Baer India Ltd is scheduled to be held on July 30, 2001 to consider and take on record the un-audited quarterly financial results (provisional) of the Company for the period ended June 30, 2001.

Bata India Q2 net down by 10.46%

Bata India Ltd has posted a net profit of Rs 55.60 million for the quarter ended June 30, 2001 as against Rs 62.10 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 2218.40 million as against Rs 2090.90 million in JQ 2000.

Modi Rubber clarifies on news item

With reference to news item appearing in a leading financial daily Modi Rubber Ltd has informed BSE that the company has not received any communication as yet from the acquirers/financial institutions regarding their participation in the open offer. The news item suggested that institutional shareholders have agreed in principle to off load their shares in favour of the acquirers in the open offer.

Syngenta India Q1 results on July 27, 2001

A meeting of the Board of Directors of Syngenta India Ltd is scheduled to be held on July 27, 2001 to consider, amongst other things, the unaudited results for the first quarter ended June 30, 2001.

Fulford's sales & profitability likely to be affected by NPPA notification

In a communication issued to BSE, Fulford India Ltd has stated that the National Pharmaceutical Pricing Authority (NPPA) has notified reduced prices in respect of certain formulations which are likely to significantly affect the company's sales and profitability.

Bank of Baroda to call EGM to elect shareholder Director

Bank of Baroda has informed BSE that the Board of Directors of the Bank at its meeting held on July 11, 2001 has decided to convene an Extra-Ordinary General Meeting of the Bank on September 05, 2001 to elect a shareholder Director pursuant to Clause 11B of the Nationalised Banks (Management & Miscellaneous Provisions) Scheme, 1970 to fill in the vacancy caused by demitting of the office by Shri Kuttappan K Nair, a shareholder Director of the Bank who was elected on November 15, 1999.

VisualSoft Technologies Q1 net down by 15.39%

VisualSoft Technologies Ltd has posted a net profit of Rs 87.44 million for the quarter ended June 30, 2001 as against Rs 103.35 million for the corresponding period last year. Income from Software Exports grew by 6.83%, from Rs 266.72 million in JQ 2000 to Rs 284.95 million in JQ 2001. Other Income is at Rs 9.95 million in the quarter ended June 30, 2001 as against Rs 11.07 million in the quarter ended June 30, 2000. The Company had incurred Rs 27.50 million as an Extra-Ordinary Expenditure in JQ 2000 which represented the provision for the amount payable as final settlement o M/s Danlaw Inc. U.S.A. The income from software sales of Rs 284.95 million for the quarter ended June 30, 2001 includes product related sales of Rs 54.739 million. The product related sales have been affected due to global economic slowdown.

Indian Resort Hotels posts Rs 0.21 million as net profit in Q1

Indian Resort Hotels Ltd has posted a net profit of Rs 0.21 million for the quarter ended June 30, 2001 as compared to a net loss of Rs 3.69 million for the corresponding period last fiscal. Net Sales is at Rs 29.91 million in the quarter ended June 30, 2001 as against Rs 26.57 million in the quarter ended June 30, 2000, Other Income is lower at Rs 2.71 million in JQ 2001 as against Rs 6.42 million in JQ 2000. Reduction in the Other Income is due to lower interest rates and lesser investible surplus available with the Company. Sales registered a growth of 13% withstanding competition, contributed by increased occupancies and higher Food and Beverage revenue over the corresponding period of the previous year. This coupled with tight cost controls reflected a significant improvement in the operational performance of the company as compared to the corresponding period of the previous year.

ITC Q1 net up by 20.76%

ITC Ltd has posted a net profit of Rs 3006.70 million for the quarter ended June 30, 2001 as compared to Rs 2489.70 million for the corresponding period last fiscal. Net Sales for the quarter ended June 30, 2001 are at Rs 10478.90 million as compared to Rs 10059.90 million in JQ 2000. Other income for the quarter ended June 30, 2001 is at Rs 264.20 million as compared to Rs 177.30 million in the quarter ended June 30, 2000.

NOCIL Q1 results on July 30, 2001

A meeting of the Board of Directors of National Organic Chemical Industries Ltd (NOCIL) is scheduled to be held on July 30, 2001 to consider the unaudited accounts of the Company for the quarter ended June 30, 2001.

Kesoram Industries Q1 results on July 30, 2001

A meeting of the Board of Directors of Kesoram Industries Ltd is scheduled to be held on July 30, 2001 to consider and take on record the Unaudited Financial Results of the Company for the quarter ended June 30, 2001.

Silverline Technologies clarifies on news article

With reference to the news article appearing in a leading financial daily titled " Silverline warning on costs of SeraNova buy" Silverline Technologies Ltd has informed BSE that the article is based on certain Risk Factors statutorily carried in its Annual filing for the year ended December 31, 2000 with the Securities and Exchange Commission, USA (SEC), in Form 20F. The Company has further reiterated its stand that there is no express liability on the part of the Company for additional amounts in respect of the acquisition of SeraNova Inc, USA, over and above the 6.22 million American Depository Shares (ADSs) issued.

BSE imposes Special Margin of 25% on Media Matrix Worldwide

BSE has informed the members of the exchange that Special Margin of 25% has been imposed in respect of the securities of Media Matrix Worldwide Ltd (scrip code 12267) with effect from today (July 20, 2001).

HFCL Q1 results on July 31, 2001

A meeting of the Board of Directors of Himachal Futuristic Communications Ltd will be held on July 31, 2001 to take on record the Unaudited Financial Results of the Company for the quarter ended June 30, 2001.

Indian Resort Hotels proposes sale/transfer of Airline Catering Business

Indian Resort Hotels Ltd has informed BSE that at the meeting of the Board of Directors of the Company held today (July 20, 2001) the Board has considered, a proposal to sell/transfer the Airline Catering Business of the Company. The Company has further informed that keeping in with The Taj Group's proposal to restructure its air catering business, it is proposed to transfer by way of a sale, the air catering unit of the Company, at Goa, to a joint venture company being formed by The Indian Hotels Company Ltd (IHCL) and Singapore Airport Terminal Services Ltd (SATS), a subsidiary of Singapore Airlines which would handle the Airline Catering Business of the Group. Negotiations are on-going and the terms governing the transactions have not yet been finalized.

Indian Hotels Q1 results on July 27, 2001

A meeting of the Board of Directors of The Indian Hotels Company Ltd is scheduled to be held on July 27, 2001 to consider the unaudited quarterly results (provisional) of the Company for the quarter ended June 30, 2001.

Castrol India Q2 net up by 11.77%

Castrol India Ltd has posted a net profit of Rs 369.40 million for the quarter ended June 30, 2001 as against Rs 330.50 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 2872.90 million as against Rs 2748.50 million for the quarter ended June 30, 2000. Interest Expenditure is down from Rs 25.40 million in JQ 2000 to Rs 17.30 million in JQ 2001. The Company has reported that the conditions in the lubricant market to be sluggish. It is estimated that the size of the market has declined by more than 10% over the past 12 months. The quality of the company's products and the power of its brands have however helped to lessen the impact on the company. The company's overall strategy continues to be to focus on maintaining volumes and improving margins whilst concentrating on cost efficiencies. Margins during the quarter improved over first quarter of this year and same quarter last year.

Wipro announces Q1 results under GAAP standards

Wipro Ltd today (July 20, 2001) announced results on a consolidated basis under Indian GAAP Accounting Standard-21which has become effective April 2001. Highlights under Indian GAAP PAT grew by 97% to Rs 2.14 billion and revenue for the quarter grew by 28% year on year to Rs 7.98 billion Profit Before Interest and Tax of Wipro Technologies grew by 70% year on year Sequential growth in Wipro Technologies Offshore realization by 3.4% and on-site realization by 2.6% Highlights under US GAAP The profit after tax computed in accordance with US GAAP for the quarter ended June 2001 was Rs 1.89 billion a growth of 101% over the profits for the corresponding quarter ended June 2000. The net difference between profits computed in accordance with Indian GAAP and US GAAP is primarily due to accounting for deferred stock compensation expenses, equity accounting for results of investments in associate companies - Wipro GE Medical Systems Ltd and Netkracker Ltd and interest provision on differential treatment for sale of investment by Wipro in Dec 99.

Mphasis BFL allots equity shares to Winterfall Ltd

The Board of Directors of Mphasis BFL Ltd at its meeting held on July 20, 2001 has allotted 12,85,715 equity shares of Rs 10 each fully paid up at a premium of Rs 340 each to Winterfall Ltd having its office at Les Cascades, Port Louis, Mauritius.

Wipro Q1 net up 92.85%

Wipro Ltd has posted a net profit of Rs 2077 million for the quarter ended June 30, 2001 as compared to Rs 1077 million in the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 7949 million as against Rs 6221 million in the quarter ended June 30, 2000. During the quarter, the company acquired 1,791,385 shares representing 8% of the Equity Capital of Wipro Net Limited (WNL). Consequently WNL has become a wholly owned subsidiary of the Company. The Board of Directors of both the Companies has decided to amalgamate WNL into Wipro Limited with effect from April 1, 2001. Accordingly the scheme of amalgamation was filed with Karantaka High Court on June 4, 2001. The scheme has been approved both by the creditors and the shareholders of the company at the meeting held on July 19, 2001. The scheme of merger is subject to approval by the High Court of Karnataka. The merger is accounted for by pooling of interests method. Financial statements of Wipro limited include operating resutls of Wipro Net for the three-month period ended June 30, 2001.

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