ICICI Bank Q1 net up by 62.56%

ICICI Bank Ltd has reported a net profit of Rs 652.50 million for the quarter ended June 30, 2001 as against Rs 401.40 million for the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 5954.90 million as against Rs 3147.90 million for the quarter ended June 30, 2000. Pursuant to the amalgamation of Bank of Madura Ltd with the Bank effective March 10, 2001, the financial statements for Q1-FY2002 reflect the operations of the merged entity and therefore the current quarter results are not comparable with earlier period. The highlights of ICICI Bank's performance during the first quarter are: 95% increase in Profit before Tax (PBT) as per Indian GAAP Return on average net worth increased to 19.40% from 12.98% in FY2001; Cost to income ratio declined to 49.92% from 53.53% for FY2001 Net Non-Performing Assets as percentage of customer assets reduced to 1.31% at June 30, 2001 from 1.44% at March 31, 2001. Bank's total Capital Adequacy Ratio was 12.53% at June 30, 2001 of which Tier I capital constituted 11.19%. During the first quarter, the bank added more than 4,50,000 new customer accounts, including 1,43,000 savings bank accounts, and now has about 37,00,000 accounts. This includes about 18,00,000 savings accounts and 92,000 NRI accounts. The bank has 6,40,000 internet banking customer accounts. As on June 30, 2001 the bank had a network of 357 branches and 37 extension counters. Its network of 546 ATMs is the largest in the country accounting for nearly 18% of all ATMs in the country. The Bank has posted a net profit of Rs 562 million for the quarter ended June 30, 2001 as compared to Rs 446 million for the corresponding period under US GAAP.

La-Mere Apparels to consider preferential allotment

A meeting of the Board of Directors of La-Mere Apparels Ltd will be held on July 27, 2001 to consider the following business: To consider increase in authorised share capital of the Company To consider the preferential allotment of shares. To consider inter-corporate investment. To consider acquisition of portal business. To consider change in object clause. To consider change in Articles. To finalise the agenda of Annual General Meeting To finalise the date of Annual General Meeting. Any other business with the permission of the chairman.

Andhra Bank Q1 net up by 12.98%

Andhra Bank has posted a net profit of Rs 664.20 million for the quarter ended June 30, 2001 as against Rs 587.90 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 5748.90 million as against Rs 4932.20 million in JQ 2000.

Gujarat Ambuja Cements FY-01 results on July 31, 2001

The Board of Directors of Gujarat Ambuja Cements Ltd is scheduled to meet on July 31, 2001 to consider the Annual Accounts of the Corporate Financial Year ended June 30, 2001 and to recommended a Dividend.

IPCL Q1 net down by 64.28%

Indian Petrochemicals Corporation Ltd has posted a net profit of Rs 126.70 million for the quarter ended June 30, 2001 as against Rs 354.70 million for the quarter ended June 30, 2000. Net Sales for the quarter ended June 30, 2001 is at Rs 10992 million as against Rs 10676.60 million in the quarter ended June 30, 2000. Other Income is at Rs 269.10 million in JQ 2001 as against Rs 276.90 million in JQ 2000. The company produced a total of 0.321 metric tonnes of major saleable products during the quarter from all three complexes, as against 0.334 million metric tonnes produced in the corresponding quarter of the previous year. The combined capacity utilization of all operating plants stood at 97 percent for Q1 01-02. The company is currently focusing on improving the performance by laying continued thrust on supply chain management, capacity utilization, maximizing sales revenue in terms of value and volume by strategic positioning of these products in domestic as well as overseas markets. Emphasis is also laid on optimising the logistic and overall productivity in all the manufacturing units.

Archies Greetings Q1 net down by 37.92%

Archies Greetings & Gifts Ltd has posted a net profit of Rs 15.99 million for the quarter ended June 30, 2001 as against Rs 25.77 million for the quarter ended June 30, 2000. Total Income is at Rs 125.17 million in JQ 2001 as against Rs 114.51 million in JQ 2000. The Company has added 8 franchisees during this quarter, taking the total tally to 513 (including 27 company owned/managed outlets). The Company has opened its branch offices at Calcutta, Noida & Chennai.

Grasim Industries Q1 results on July 31, 2001

A meeting of the Board of Directors of Grasim Industries Ltd is scheduled to be held on July 31, 2001 to take on record the unaudited financial results (provisional) for the quarter ended June 30, 2001.

Bharat Forge Q1 net down by 72.22%

Bharat Forge Ltd has posted a net profit of Rs 40.30 million for the quarter ended June 30, 2001 as against Rs 145.10 million for the quarter ended June 30, 2000. Net Sales for the quarter ended June 30, 2001 is at Rs 1000.60 million as against Rs 1369.70 million in the quarter ended June 30, 2000. Other Income is at Rs 21.70 million in JQ 2001 as against Rs 5.50 million in JQ 2000.

Mukta Arts Q2 net up by 62.35%

Mukta Arts Ltd has posted a net profit of Rs 40.17 million for the quarter ended June 30, 2001 as against Rs 24.74 million for the quarter ended June 30, 2000. Net Sales/Income from Operations is higher by 276.51%, from Rs 32.65 million in JQ 2000 to Rs 122.95 million in JQ 2001. Other Income is at Rs 8.75 million for the quarter ended June 30, 2001 as against Rs 0.235 million for the quarter ended June 30, 2000. The Company has insured its Chairman and Managing Director for an amount of Rs. 180 million with LIC under a Keyman Insurance Policy & the premium paid has been charged to revenue. Installation of Music Recording Equipment at AUDEUS has been completed and the same has been commissioned on June 01, 2001.

GNFC Q1 net up by 25.72%

Gujarat Narmada Valley Fertilizers Company Ltd has posted a net profit of Rs 148.10 million for the quarter ended June 30, 2001 as against Rs 117.80 million for the corresponding period last year. Net Sales/Income from Operations is higher at Rs 2963.30 million in the quarter ended June 30, 2001 as against Rs 2745.30 million in the quarter ended June 30, 2000. Other Income is at Rs 80.60 million in JQ 2001 as against Rs 126.30 million in JQ 2000.

IBP Co. Q1 net up by 55.41%

IBP Co. Ltd has posted a net profit of Rs 116.40 million for the quarter ended June 30, 2001 as against Rs 74.90 million for the quarter ended June 30, 2001. Total Income for the quarter ended June 30, 2001 is at Rs 22374.20 million as against Rs 20489.10 million for the quarter ended June 30, 2000.

Panjon Board approves issue of shares on preferential basis

The Board of Directors of Panjon Ltd at its meeting held on July 20, 2001 has approved the issue of 65,01,300 equity shares of the Company of Rs 10 each on a preferential basis for cash at par aggregating to Rs 65.013 million to promoters, Directors and other individuals, body corporate and other investors. The Board has also approved the increase in authorised share capital from Rs 40 million divided into 4 million equity shares of Rs 10 each to 10.50 million equity shares of Rs 10 each by creation of 6.50 million equity shares of Rs 10 each and to amendment in the capital clause of Memorandum & Articles of Association accordingly. The Board has decided to convene an Extra-Ordinary General Meeting on August 14, 2001 for the required approval of members for the above said purpose.

MTNL Q1 results on July 31, 2001

A meeting of the Board of Directors of Mahanagar Telephone Nigam Ltd is scheduled to be held on July 31, 2001 to consider and take on record the Unaudited Financial Results of the Company for the quarter ended June 30, 2001.

MTNL Q1 results on July 31, 2001

A meeting of the Board of Directors of Mahanagar Telephone Nigam Ltd is scheduled to be held on July 31, 2001 to consider and take on record the Unaudited Financial Results of the Company for the quarter ended June 30, 2001.

Rolta India Q2 results on July 30, 2001

A meeting of the Board of Directors of Rolta India 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 second quarter ended June 30, 2001.

BSE imposes AVM on 10 scrips

BSE has informed the members of the exchange that Additional Volatility Margin (AVM) has been imposed on the following scrips for the settlement No. 018/2001-2002 commencing on Monday,(July 23,2001).The AVM would be computed on the net outstanding Purchase or Sales position as may be applicable including carryforward positions at the end of day at the rate given below. The rate of AVM would remain unchanged for the entire settlement. CODE NAME OF THE COMPANY GROUP AVM 31632 Avinash Information Technologies Ltd. B2 10.00 6285 Bayer (India) Ltd B1 10.00 32324 Cinevista Communications Ltd. B1 10.00 26785 Crest Communications Ltd. B1 10.00 26624 Elbee Services Ltd. B1 10.00 32312 Geometric Software Solutions Co.Ltd. B1 10.00 24330 Jayant Agro-Organics Limited. B1 10.00 32337 Mascot Systems Ltd. B1 10.00 12299 Sterling Biotech Ltd. B1 15.00 32375 Tips Industries Ltd. B1 10.00

Voltas Q1 results on July 31, 2001

A meeting of the Board of Directors of Voltas Ltd has been convened on July 31, 2001 to consider the unaudited financial results of the company for the first quarter ended June 30, 2001.

Trading to resume in Softrak Venture Investments

BSE has informed the members of the exchange that the trading in the securities of Softrak Venture Investment Limited will resume w.e.f. Monday (July 23, 2001)

Money

Rapid Information on Stocks & Corporates

Tell us what you think of this report