Essar Steel posts Rs 2138.80 million as net loss in Q1

Essar Steel Ltd has posted a net loss of Rs 2138.80 million for the quarter ended June 30, 2001 as against a net profit of Rs 48.30 million posted in the same period last year. Net Sales for the quarter ended June 30, 2001 is lower at Rs 5771.70 million as against Rs 6862.40 million in the quarter ended June 30, 2000. Net Interest Charges is higher at Rs 1492.60 million in the quarter ended June 30, 2001 as against Rs 1120.10 million in the quarter ended June 30, 2000.

OCL India Q1 net up by 36.43%

OCL India Ltd has posted a net profit of Rs 54.30 million for the quarter ended June 30, 2001 as against Rs 39.80 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 757 million as against Rs 721.30 million for the quarter ended June 30, 2000. A special resolution has been passed by the shareholders through postal ballots authorising the Board of Directors to buy back fully paid-up equity shares of Rs 10 each not exceeding 25% of the equity share capital of the Company, at a price not to exceed Rs 80 per share & at a total outgo upto Rs 100 million.

SRF Board appoints new Whole Time Director

SRF Ltd has informed BSE that Shri Ashish Bharat Ram has been appointed as Whole Time Director with effect from August 01, 2001 by the Board of Directors at its meeting held on July 26, 2001.

PALI Q2 net rises 85.71% to Rs 41.60 million

Punjab Anand Lamp Industries Ltd (PALI) has posted a net profit of Rs 41.60 million for the quarter ended June 30, 2001 as against Rs 22.40 million in the same period last year. Total Income for the quarter ended June 30, 2001 is at Rs 339.90 million as against Rs 322.50 million in the quarter ended June 30, 2000.

Nestle Q2 net profit up by 20.48%

Nestle India Ltd has posted a net profit of Rs 447 million for the quarter ended June 30, 2001 for the quarter ended June 30, 2001 as against Rs 371 million in the corresponding period last fiscal. Net Sales rose by 11.55%, from Rs 4198 million in the quarter ended June 30, 2000 to Rs 4683 million in the quarter ended June 30, 2001. While Domestic Sales grew at 11.9%, export sales for the quarter increased by 9.5%, mainly on account of exports to Russia. Other Income for the quarter ended June 30, 2001 is at Rs 36 million as against Rs 19 million in the quarter ended June 30, 2000. Interest Cost has declined from Rs 40 million in JQ 2000 to Rs 23 million in JQ 2001. The continuing lack of buoyancy in the economy has been a concern during the past months but did not affect the Company in any significant manner. During the quarter, the Company has maintained its thrust on improving availability of its products and of promoting packs and flavours in line with customer needs. The various brands of the Company have performed well and new products launched in the recent past reported trials and acceptance. The company management has expressed satisfaction with the performance during the quarter. Commenting on the performance Mr. Carlo Donati, Chairman & Managing Director Said " The excellent top-line growth and the contribution to bottom-line is the result of the increasing pace of innovation and renovation within the company. The focus on continuous improvement as a process in all areas is evident in the results for this quarter and cumulative results for the first half. Though our entry into new businesses and continuing lack-lustre markets may impact results in the near future, I am confident that the Company is moving in the right direction."

BILT FY-01 net up by 47.38%

Ballarpur Industries Ltd has posted a net profit of Rs 1002.80 million for the year ended June 30, 2001 as against Rs 680.40 million for the year ended June 30, 2000. Total Income for the year ended June 30, 2001 is at Rs 14581.70 million as against Rs 13455.90 million in the year ended June 30, 2000. The Board of Directors of the Company has proposed a Dividend @ 30% on equity shares for the year ended June 30, 2001 as against 26% declared last year. The Board has proposed reduction in the rates of interest payable on Company's Fixed Deposit Scheme by 1% with effect from September 01, 2001. The Board has co-opted Mr. Sanjay Labroo, Managing Director, Aashi (India) Safety Glass Ltd and Mr., Shardul S. Shroff an eminent corporate lawyer as Additional Director on the Board. The Board has also considered the Consolidation of Bilt Graphic Papers Ltd (formerly Sinar Mas Pulp & Paper) into Ballarpur Industries Ltd, in order to provide transparency and an opportunity for existing BILT shareholders to share in growth and value creation, a capital market equity issue would be finalized shortly. The Board has appointed a committee of Independent Directors to evaluate various options and recommend a final option to the Board.

Syngenta Q1 net up by 21.63%

Syngenta India Ltd has posted a net profit of Rs 102.90 million for the quarter ended June 30, 2001 as compared to Rs 84.60 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 1005.20 million as against Rs 1035.50 million in the corresponding period last fiscal. Figures for the quarter ended 30.6.2000 were published in the previous year as a part of the results of results of Novartis India Limited. Since the Scheme of Arrangement under which the agribusiness undertaking was transferred to the Company was effective retroactively from 1st April, 2000, these figures have been recast and regrouped, wherever necessary, to make those figures comparable.

Extra-ordinary income helps Glaxo post a rise of 44.07% in Q2 net profit

Glaxo India Ltd has posted a net profit of Rs 425.30 million for the quarter ended June 30, 2001 as compared to Rs 295.20 million for the corresponding period last fiscal. Total Income for the quarter ended June 30, 2000 stood at Rs 2695.10 million. Total Income for the quarter ended June 30, 2001 is at Rs 1827.90 million. During the quarter ended June 30, 2001 the company has earned Rs 393.50 million as profit from sale of property.

Burroughs Wellcome Q2 net down by 32.62%

Burroughs Wellcome (India) Ltd has posted a net profit of Rs 65.90 million for the quarter ended June 30, 2001 as against Rs 97.80 million for the quarter ended June 30, 2000. Net Sales are lower at Rs 362.50 million in JQ 2001 as against Rs 531.90 million in JQ 2000. Other Income stands at Rs 29.50 million in the quarter ended June 30, 2001 as compared to Rs 41 million in the quarter ended June 30, 2000. The Company has reported that there has been a perceptible slowing down of the pharmaceuticals market coupled with planned de-stocking of trade inventories. Septran, the Company's No. 1 product, continues to be adversely affected due to significant price reduction. Most products of the Company are reported to be in therapeutic segments, which are slow growing and shrinking.

T T Thomas appointed as CMD of FACT

Pursuant to order of the Government of India, Ministry of Chemicals & Fertilisers, Department of Fertilisers, Shri T T Thomas Director (Marketing) has assumed additional charge of the post of Chairman & Managing Director, Fertilisers and Chemicals Travancore Ltd with effect from July 23, 2001.

Nucleus Software Exports Q1 net up by 67.19%, Net Sales up by 79.67%

Nucleus Software Exports Ltd has posted a net profit of Rs 30.88 million for the quarter ended June 30, 2001 as against Rs 18.47 million for the quarter ended June 30, 2000. Net Sales has increased from Rs 49.99 million in JQ 2000 to Rs 89.83 million in JQ 2001. Other Income is at Rs 0.30 million in the quarter ended June 30, 2001 as compared to Rs 0.359 million in the quarter ended June 30, 2000.

Reliance Capital Q1 net up 10.49%

Reliance Capital Ltd has posted net profit of Rs 243.20 million for the quarter ended June 30, 2001 as compared to Rs 220.10 million for the quarter ended June 30, 2000. Income from operations stood at Rs 1257.60 million for the quarter ended June 30, 2001 as compared to Rs 1148.50 million in the corresponding period last fiscal. Other income for the quarter ended June 30, 2001 is at Rs 12.10 million as compared to Rs 6.20 million in the quarter ended June 30, 2000.

Cadila Healthcare acquires 40466 shares of German Remedies through open market

Cadila Healthcare Ltd has informed BSE that pursuant to the Open Offer made by Recon Healthcare Ltd to the shareholders of German Remedies Ltd (GRL), the company has acquired 40466 equity shares of GRL representing 0.4907 per cent of the paid up equity share capital through open market purchases as permitted under the SEBI (Substantial Acquisition of Shares and Takeover) Regulation, 1997. The maximum price paid for shares acquired through open market purchases was Rs 466.93 per share.

Aegis Chemicals Q1 net profit rises 200% to Rs 30.60 million

Aegis Chemicals Ltd has posted a net profit of Rs 30.60 million for the quarter ended June 30, 2001 as against Rs 10.20 million in the same period last year. Total Income for the quarter ended June 30, 2001 is at Rs 294.60 million as compared to Rs 147.70 million in the quarter ended June 30, 2000. Interest Cost has risen from Rs 3.70 million in JQ 2000 as compared to Rs 9.10 million in JQ 2001.

Aditya Narayan reappointed as MD of ICI India

ICI India Ltd has informed BSE that Mr Aditya Narayan has been reappointed as the Managing Director of the company for a period of five years from August 01, 2001.

TV 18 JQ-01 results on Aug 04, 2001

A meeting of the Board of Directors of Television Eighteen India Ltd has been convened on August 04, 2001 to transact the following items: 1. To take on record audited financial results for the period ended March 31, 2001 2. To declare dividend, if any 3. To take on record unaudited financial results for the quarter ended June 30, 2001 4. Other regular agenda items.

ICICI Q1 net up by 13.27%

ICICI Ltd has posted a net profit of Rs 3256.40 million for the quarter ended June 30, 2001 as against Rs 2874.70 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 24519 million as against Rs 21538 million for the quarter ended June 30, 2000. Depreciation charge has increased from Rs 990.20 million in JQ 2000 to Rs 1157 million in JQ 2001.

Tata Tea Q1 PAT up by 84.60%

Tata Tea Ltd has posted a profit after tax of Rs 152.30 million for the quarter ended June 30, 2001 as against Rs 82.50 million for the quarter ended June 30, 2000. Total Income is higher at Rs 1941.30 million as against Rs 1926.10 million in the quarter ended June 30, 2000. In the previous years first quarter ended June 30, 2000, the Company received Rs. 303.90 million comprising an exceptional dividend from its subsidiary company, arising from profit on sale of major investments and also interim dividends from other companies which are normally received in the second and third quarters. The absence of dividends in the current years first quarter was thus responsible for decline in the Company's overall profit in this quarter. The net profit for the quarter ended June 30, 2000 after considering the exceptional dividend comes to Rs 386.40 million as against Rs 152.30 million in the current quarter ended June 30, 2001.

ITC Bhadra Q1 net down by 35.73%

ITC Bhadrachalam PaperBoards Ltd has posted a net profit of Rs 45.98 million for the quarter ended June 30, 2001 as compared to Rs 71.55 million for the quarter ended June 30, 2000. Total Income for the quarter ended is at Rs 1325.90 million for the quarter ended June 30, 2001 as compared to Rs 1300.93 million in the corresponding period last fiscal. The turbo generators affected by the fire incident at the Mill in March, 2001 were restored to operations fully by mid-June, 2001. The higher cost of power and fuel, for the quarter ending 30th June, 2001 compared to the quarter ending 30th June, 2000, is primarily attributable to the higher cost of power drawn from the State Grid in the interim period.

Colgate Palmolive Q1 net up by 17.91%

Colgate Palmolive (India) Ltd has reported a net profit of Rs 158 million for the quarter ended June 30, 2001 as against Rs 134 million for the same period last fiscal. Net Sales have increased from 2875 million in JQ 2000 to Rs 3066 million in JQ 2001. Other Income for the current quarter is at Rs 71 million as against Rs 35 million in JQ 2000. In a press release issued to the BSE, the Company has reported that the its growth exceeded that of the Oral Care market and the overall performance achieved defied the market trend in the current quarter. Unit volume grew by 3% from continued volume expansion of the flagship " Colgate Dental Cream" and two new toothpastes - " Colgate Herbal" and "Colgate Cibaca Top" - launched late last year. The Company continues to support, built and execute on its previously identified sales and marketing initiatives, backing them with consistent and strong investments in advertising and promotions. During the quarter, the Company launched an imported battery-powered toothbrush - "Actibrush" - through exclusive chemist shops and dentists in the top 50 towns. The brush, priced at Rs. 999 per piece, has been clinically proven to provide a better clean and significantly better plaque removal than an ordinary toothbrush. Supply chain and materials sourcing efficiencies, combined with the continued focus on reduction of overheads, has resulted in operating contribution increasing by 290 basis points to 28.80%. In rupee terms, operating contribution increased by 19% to Rs 880 million.

Novartis India Q1 net down by 9.85%

Novartis India Ltd has posted a net profit of Rs 91.50 million for the quarter ended June 30, 2001 as against Rs 101.50 million for the same period last year. Net Sales are higher by 8.79%, from Rs 941.30 million in JQ 2000 to Rs 1024.10 million in JQ 2001. Other Income is at Rs 45.90 million in the quarter ended June 30, 2001 as compared to Rs 56.90 million in JQ 2000.

Smithkline Beecham Consumer Q2 net up by 44.91%

Smithkline Beecham Consumer Healthcare Ltd has posted a net profit of Rs 403 million for the quarter ended June 30, 2001 as compared to Rs 278.10 million for the quarter ended June 30, 2000. Total Income for the quarter ended is at Rs 2190.50 million for the quarter ended June 30, 2001 as compared to Rs 1859.70 million in the corresponding period fiscal. The relatively high growth percentage in Sales shown in the financial results for Q2, 2001 should be reviewed against last years reported results for the corresponding period influenced by the subdued trading in the first half last year.

VSNL Q1 net down by 4.54%

Videsh Sanchar Nigam Ltd has posted a net profit of Rs 3655 million as against Rs 3829 million in the same period last fiscal. Net Sales for the quarter ended June 30, 2001 is at Rs 15283 million as against Rs 17018 million in the quarter ended June 30, 2000. Other Income is at Rs 1138 million as against Rs 1552 million in the quarter ended June 30, 2000. The net profit for the current quarter has been arrived after considering prior period item of Rs 229 million.

Mascot Systems Q1 net up by 102.16%

Mascot Systems Ltd has posted a net profit of Rs 130.80 million for the quarter ended June 30, 2001 as compared to Rs 64.70 million for the corresponding period last fiscal. Total Income has increased from Rs 670.40 million in the quarter ended June 30, 2000 to Rs 1127.70 million in the quarter ended June 30, 2001.

German Remedies Q1 net down by 3.42%

German Remedies Ltd has posted a 3.42% fall in net profit from Rs 43.14 million in the quarter ended June 30, 2000 to Rs 41.67 million in the current quarter ended June 30, 2001. Total Income for the quarter ended June 30, 2001 is at Rs 437.72 million as against Rs 413.79 million for the quarter ended June 30, 2000. Recon Healthcare Ltd, a wholly owned subsidiary of Cadila Healthcare Limited (Zydus Cadila), had entered into an agreement dated 10th April 2001 with Asta Medica AG and Heller Vermogensverwaltungs GmbH, for acquiring their shareholding aggregating to 27.72% of the total equity share capital of the Company. Recon Healthcare Limited has made an open offer for acquiring an additional 20% Equity Shares from the shareholding public in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. The open offer closes on 16th August, 2001. The provision for taxes for the current quarter Rs 14 million is higher than that of the previous years quarter (Rs 3.32 million), since the period of tax exemption for the Formulation Plant at Goa expired on 31st March 2001.

GSFC Q1 net loss at Rs 344.30 million

Gujarat State Fertilizers & Chemicals Ltd has posted a net loss of Rs 344.30 million for the quarter ended June 30, 2001 as against a net loss of Rs 274.40 million for the corresponding period last fiscal. Net Sales/Income from operations has risen from Rs 3125.50 million in JQ 2000 to Rs 3783.70 million in JQ 2001. Other Income is at Rs 95.40 million in the quarter ended June 30, 2001 as against Rs 147.40 million in the quarter ended June 30, 2000.

Indian Hotels Q1 net down by 18.15%

Indian Hotels Company Ltd has posted a net profit of Rs 120.80 million for the quarter ended June 30, 2001 as compared to Rs 147.60 million in the corresponding period last fiscal. Total Income has increased from Rs 1444.60 million in the quarter ended June 30, 2000 to Rs 1631.64 million in the quarter ended June 30, 2001. During the current quarter ended June 30, 2001 the company has amortised Rs 24.30 million towards VRS expenses. In view of the seasonally of the business, the financial results for the first quarter for the Company are not indicative of the full years performance.

Vardhman Spg Q1 net down by 68.43%

Vardhman Spg & General Mills Ltd has posted a net profit of Rs 20.2 million for the quarter ended June 30, 2001 as compared to Rs 64 million in the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 1396.80 million as compared to Rs 1112.50 million in the quarter ended June 30, 2000.

Interim stay order in respect of DSQ Software Ltd

BSE has today (July 27, 2001) received an ad-interim injunction from the City Civil Court at Chennai, restraining the BSE from suspending the Listing of the Shares of DSQ Software Ltd, till July 31, 2001. In view of the same, the proposed suspension of DSQ Software Ltd, at the Exchange from Monday, July 30, 2001, will be held in abeyance till further notice.

Provisioning pulls Kotak Mahindra Finance Q1 net down by 8.70%

Kotak Mahindra Finance Ltd has reported a net profit of Rs 137.33 million for the quarter ended June 30, 2001 as against Rs 150.42 million for the quarter ended June 30, 2000. Net Sales/Income for the quarter ended June 30, 2001 is at Rs 465.66 million as against Rs 452.03 million for the quarter ended June 30, 2000. Other Income is at Rs 117.86 million in JQ 2001 as against Rs 126.97 million in JQ 2000. Interest and Bank Charges has declined from Rs 165.03 million in JQ 2000 to Rs 127.20 million in JQ 2001. Provision for Non Performing Assets/Investments has risen from Rs 16.60 million in the quarter ended June 30, 2000 to Rs 42.59 million in June 30, 2001.

Alembic Glass Inds posts Rs 13 million as net profit in Q1

Alembic Glass Industries Ltd has posted a net profit of Rs 13 million for the quarter ended June 30, 2001 as against a net loss of Rs 2.20 million for the same period last year. Net Sales have risen by 16.10%, from Rs 106.60 million in JQ 2000 to Rs 124 million in JQ 2001. Other Income is at Rs 3.20 million in JQ 2001 as against Rs 6.50 million in JQ 2000.

Vardhman Polytex Q1 net down by 38.88%

Vardhman Polytex Ltd has posted a net profit of Rs 23.10 million for the quarter ended June 30, 2001 as against Rs 37.80 million for the same period last year. Net Sales for the quarter ended June 30, 2001 is higher at Rs 697.80 million as against Rs 552.30 million for the quarter ended June 30, 2000. Other Income is at Rs 3.30 million in JQ 2001 as against Rs 7.80 million in JQ 2000.

Provisioning pulls down Global Trust Bank Q1 net down by 56.13%

Global Trust Bank Ltd has posted a net profit of Rs 163 million for the quarter ended June 30, 2001 as against Rs 371.60 million for the same period last year. Total Income for the quarter ended June 30, 2001 is at Rs 2609.80 million as against Rs 2593.70 million for the quarter ended June 30, 2000. The Bank has made provision for NPAs of Rs 150 million on adhoc basis for the quarter ended June 30, 2001.(Rs Nil in JQ 2000) The Specific Provision for NPAs has also increased from Rs 111.50 million in JQ 2000 to Rs 126.70 million in JQ 2001.

Essar Shipping Q1 net up by 140.69%

Essar Shipping Ltd has posted a net profit of Rs 252 million for the quarter ended June 30,2001 as compared to Rs 104.70 million for the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 1403.10 million as against Rs 1012.40 million for the quarter ended June 30, 2000. Net Interest Expenditure has increased from Rs 158.20 million JQ 2000 to Rs 206.20 million in JQ 2001.

Poddar Pigments to buy-back shares at price not exceeding Rs 10 per share

Poddar Pigments Ltd has informed BSE that the Board of Directors has approved buy back of 2.50 million equity shares of the company at a price not exceeding Rs.10 per share out of its free reserves, subject to approval of the shareholders and other necessary approvals as may be required.

Marico Industries appoints new Additional Director

Marico Industries Ltd has informed BSE that the Board of Directors of the company at its meeting held on July 25, 2001 has appointed Mr.Nikhil Khatau as Additional Director of the company to hold office until the conclusion of the next AGM.

Cipla fixes book closure for the purpose of Dividend

Cipla Ltd has fixed the period from August 20, 2001 to September 04, 2001 as the book Closure dates for the purpose of 45% Dividend and AGM.

Tata Chemicals to consider buy-back proposal

A meeting of the Board of Directors of Tata Chemicals Ltd is scheduled to be held on August 13, 2001 to consider a proposal of buy-back of the company's shares.

Rayban Sun Optics Q1 net down by 5.36%

Rayban Sun Optics India Ltd (formerly known as Bausch & Lomb India Ltd) has posted a net profit of Rs 4.78 million for the quarter ended June 30, 2001 as compared to Rs 5.05 million in the corresponding period last fiscal. Total Income has fallen from Rs 156.66 million in JQ 2000 to Rs 98.21 million in the quarter ended June 30, 2001. The figures for the quarter ending June 30, 2001 are not comparable to the corresponding quarter of the previous period, which includes financials of the vision care business.

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