Zee Telefilms Q1 net up by 11.91%

Zee Telefilms Ltd has posted a net profit of Rs 298.80 million for the quarter ended June 30, 2001 as compared to Rs 267 million in the quarter ended June 30, 2000. Net Sales have increased from Rs 706.70 million in JQ 2000 to Rs 988.60 million in the quarter ended June 30, 2001. Other income for the quarter ended June 30, 2001 is at Rs 203.60 million as compared to Rs 104.30 million in the quarter ended June 30, 2000. With increased focus on viewership needs led by new programming initiatives the network expects to grow its leadership status both in mainstream and regional channels. The networks initiatives in the pay market and film production are expected to add to the diversified revenue streams. The immediate focus would be to bring quality programming content to viewers in the mainstream channel. ZEE TV was digitally encrypted during the quarter. The subscription revenues stream is expected to improve significantly in FY2002.

Essel Packaging Q1 net down by 8.24%

Essel Packaging Ltd has posted a net profit of Rs 85.70 million for the quarter ended June 30, 2001 as compared to Rs 93.40 million in the quarter ended June 30, 2000. Total Income has increased from Rs 520.90 million in JQ 2000 to Rs 536.90 million in the quarter ended June 30, 2001. Interest expenses have increased from Rs 2.80 million in JQ 2000 to Rs 22.70 million in the quarter ended June 30, 2001. The increase in interest cost is due to the additional debt taken for funding the acquisition of Propack's tubing operations for funding equity contribution in the overseas ventures.

Silverline Tech Q1 net down by 30.37%

Silverline Technologies Ltd has reported a net profit of Rs 175.45 million for the quarter ended June 30, 2001 as compared to Rs 251.96 million in the corresponding period last year. Total Income for the quarter ended June 30, 2001 is at Rs 581.82 million as against Rs 663 million in the quarter ended June 30, 2000. The Company has also announced its unaudited consolidated financial results as per US GAAP wherein the net income stood at 704076 US$ in the quarter ended June 30, 2001 as against Rs 6358924 US$ in the quarter ended June 30, 2000.

GTB announces changes in Board

Global Trust Bank Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 27, 2001 has accepted the resignation of Mr. Sridhar Subasri as member of the Board. However, Mr. Subasri will continue to be the Executive Director of the Bank, not being a member on the Board. Dr. Sailendra Narain, former CMD of SIDBI has joined the Board of the Bank at the meeting held on July 27, 2001. The Board has also proposed to invite Mr. S.K.Soni, former CMD of Oriental Bank of Commerce. Dr. P.Kotaih, former Executive Chairman of NABARD has already consented to be a member of the Board.

Dr Reddy's Board increases FII limit up to 49%, approves Stock Split

The Board of Directors of Dr Reddy's Laboratories at its meeting held today (July 31, 2001) has considered and adopted the following: Enhancement of Foreign Institutional Investors Holding limit upto 49% Sub-division of equity shares of Rs 10 each into two equity shares of Rs 5 each Reserving up to 3% of the issued paid-up share capital for the employees. Formation of a subsidiary company engaged in Genomics and Proteomics with an approximate initial investment of Rs 250 million.

Dr Reddys Q1 net at Rs 535.04 million

Dr Reddys Laboratories Ltd has posted a net profit of Rs 535.04 million for the quarter ended June 30, 2001 as against Rs 195.94 million for the quarter ended June 30, 2000. Net Sales/Income from Operations have increased from Rs 1249.08 million to Rs 2635.99 million in the current quarter ended June 30, 2001. Other Income for the quarter ended June 30, 2001 is at Rs 85.65 million as against Rs 16.47 million in JQ 2000. The unaudited results of the Current quarter are not comparable with that of previous period as the current quarter results include the results of M/s. Cheminor Drugs Limited and M/s American Remedies Ltd pursuant to the approval of the scheme of amalgamation by the Honourable High Courts of Andhra Pradesh and Madras respectively The net profit figures for the corresponding period ended June 30, 2000 of the amalgamated companies (Cheminor Drugs Ltd and American Remedies Ltd with the Company) is at Rs 249.39 million which after comparing with the net profit of the current quarter of Rs 535.04 million, represents an increase of 115%.

MTNL Q1 net up by 2.23%

Mahangar Telephone Nigam Ltd has posted a net profit of Rs 3773.08 million for the quarter ended June 30, 2001 as compared to Rs 3690.50 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 15474.29 million as compared to Rs 14468.60 million in JQ 2000.

Sterlite Optical FY-01 net at Rs 2256.40 million

Sterlite Optical Technologies Ltd has posted a net profit of Rs 2256.40 million for the financial year ended March 31, 2001 as against Rs 1146.50 million for the nine months ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 7640.40 million as compared to Rs 5125.30 million in the corresponding period last fiscal. The Board has recommended a Dividend of 120% (Rs 4.50 pro rata) per equity share of face value of Rs 5 each for the financial year ended March 31, 2001(nine months) aggregating to Rs 299.70 million including dividend tax and surcharge. The Company has changed its financial year to March 31. Accordingly, the financial year of the Company was for the period beginning July 01, 2000 and ending March 31, 2001 (9 months)

HFCL Q1 net down by 66.75%

Himachal Futuristic Communications Ltd has posted a net profit of Rs 205.19 million for the quarter ended June 30, 2001 as compared to Rs 617.85 million in the quarter ended June 30, 2000. Net sales have decreased from Rs 2538.68 million in JQ 2000 to Rs 1602.92 million in the quarter ended June 30, 2001. Other income has fallen from Rs 209.19 million in the quarter ended June 30, 2000 to Rs 39.80 million in the quarter ended June 30, 2001. The company had provided Rs 55.49 million in JQ 2000 towards provision of taxation for earlier years. Supply against major orders from BSNL/MTNL for products like CDMA, DLC etc shall commence in second quarter.

MRF declares 30% interim dividend

The Board of Directors of MRF Ltd at its meeting held today (July 31, 2001) has declared 30% interim dividend on the paid-up capital of the company. The record date for the purpose of payment of interim dividend will be August 17, 2001.

Sterlite Optical Board to consider buyback of equity shares

A meeting of the Board of Directors of Sterlite Optical Technologies Ltd is scheduled to be held on August 03, 2001 to consider buyback of shares of the Company.

Mindteck Board approves allotment of shares to Embtech Holdings

Mindteck (India) Ltd has informed BSE that the Board of Directors of the company at its meeting held on 30/07/2001 has approved the allotment of 2.850 million shares to Embtech Holdings Ltd., Mauritius at a price of Rs.120/- per share aggregating Rs.342.00 million as consideration for the acquisition of Infotech Holdings Inc.

Madura Coats Board approves buy-back at Rs 27 per share

The Board of Directors of Madura Coats at its meeting held today (July 31, 2001) has approved the buyback of 18,044,000 equity shares at a price of Rs 27 per share from the existing shareholders on a proportionate basis through a tender offer in terms of Section 77A of the Companies Act, 1956 and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998. A Public Announcement to this effect in line with the Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 would be issued in due course.

Moschip appoints Action GmbH as its distributor for marketing products

Moschip Semiconductor Technology Ltd has appointed Action GmbH a Germany based distribution company and Sabre Advanced Microelectronics Ltd, a U K based company as its distributors for marketing its products. While Actron, GmbH will distribute Moschip and NetMos (Wholly owned subsidiary of Moschip in USA) products in Germany, Austria and North Switzerland, Sabre will distribute the products of Moschip and Netmos in whole of United Kingdom and Ireland. With this strategic channel distribution partnership, Moschip can penetrate the new markets for its products in the above mentioned geographical locations.

Voltas Q1 net profit at Rs 17.70 million

Voltas Ltd has posted a net profit of Rs 17.70 million for the quarter ended June 30, 2001 as compared to Rs 7.20 million in JQ 2000. Total Income for the quarter ended June 30, 2001 is at Rs 2333.30 million as compared to Rs 2047.70 million in the corresponding period last fiscal.

Grasim Industries Q1 net up by 72.03%

Grasim Industries Ltd has posted a net profit of Rs 1022.40 million for the quarter ended June 30, 2001 as compared to Rs 594.30 million in the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 11987.10 million as against Rs 12081.20 million in the quarter ended June 30, 2000. The operations of the company's staple fibre plant at Nagda were suspended and that of chemical plant were substantially curtailed from Ist week of May 2001 due to acute water shortage at Nagda. With the onset of monsoon and availability of water, company has resumed normal operations at both these plants in the last week of June 2001.

Indian Oil Corporation Q1 net up by 8.80%

Indian Oil Corporation Ltd has posted a net profit of Rs 5544.40 million for the quarter ended June 30, 2001 as against Rs 5095.80 million in the corresponding period last fiscal. Income from Sales and operations for the quarter ended June 30, 2001 is at Rs 296043 million as compared to Rs 278134.70 million for the quarter ended June 30, 2000. Other Income is at Rs 2086.10 million in JQ 2001 as against Rs 1847.40 million for the quarter ended June 30, 2000. Interest Expenditure has increased from Rs 3232.30 million in JQ 2000 to Rs 4134.80 million in JQ 2001.

Indo Gulf Q1 net up by 16.45%

Indo Gulf Corporation Ltd has posted a net profit of Rs 504.70 million for the quarter ended June 30, 2001 as compared to Rs 433.40 million in the quarter ended June 30, 2000. Net Sales have increased from Rs 4466.90 million in JQ 2000 to Rs 5811.90 million in the quarter ended June 30, 2001. As part of the exercise of restructuring of debt, company pre-paid high cost term loans of Rs 600 million from internal accruals & raised Rs 600 million through the issue on non-convertible debentures at lower interest rate, during the quarter.

SAIL retires High Cost Debt

In a major debt restructuring the steel major has repaid over Rs 26000 million of high cost debt since April 01, 2000. This helped the company reduce its borrowings to a level under Rs 142000 million as on June 30, 2001 a decline of Rs 9440 million in the last fifteen months. SAIL had a peak debt burden of Rs 210000 million as on 31/03/99, when the government had cleared a major restructuring package. During 2000-01 SAIL effected repayments of Rs 21000 million and further Rs 5350 million in Q1 of this fiscal. Most of this debt was high cost debt bearing an interest rate between 15%-17%. Besides taking advantage of the falling interest rates the company also raised fresh resources from the market to refinance a part of the high cost-debt. Reduction in the average cost of capital for Sail and decline in its overall debt burden will have a salutary effect on its bottomline

M & M posts Rs 296.19 million as net loss in Q1

Mahindra & Mahindra Ltd has posted a net loss of Rs 296.19 million for the quarter ended June 30, 2001 as against a net profit of Rs 342.76 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 6995.29 million as against Rs 8842.33 million in the quarter ended June 30, 2000. The net loss for the current quarter has been arrived after considering exceptional items of Rs 12.55 million being Voluntary Retirement expenditure and other retirement benefits amortised. The sale of tractors during the first quarter were 12,909 as compared to 19.792 in the first quarter of 2001-02. During this period, the Company has taken appropriate measures to reduce the pipeline inventory and also to align dealer stocks with market demand. The demand for the tractor industry as a whole was lower during the current quarter on account of slowdown in the agri-economy, due to reduction in farm incomes. The automotive industry is also reported to be witnessing a decline in demand due to the slowdown in the economy, both in rural as well as urban areas. The company is actively pursuing various measures targetted at improving cost efficiency, customer relationship and retention and organisational efficiencies.

Apollo Hospitals Q1 net down by 10.95%

Apollo Hospitals Enterprise Ltd has posted a net profit of Rs 65 million for the quarter ended June 30, 2001 as compared to Rs 73 million for the corresponding period last fiscal. Total Income has increased from Rs 759 million in JQ 2000 to Rs 859 million in the quarter ended June 30, 2001. The company has provided Rs 14 million towards provision of deferred taxation during the quarter ended June 30, 2001.

Gujarat Ambuja Cements FY-01 PAT up by 6.05%

Gujarat Ambuja Cements Ltd has posted a profit after tax of Rs 1851.40 million for the year ended June 30, 2001 as compared to Rs 1745.70 million for the year ended June 30, 2000. Net Sales/Income from operations has increased from Rs 11170.80 million in the year ended June 30, 2000 to Rs 12685.70 million in the year ended June 30, 2001. Other Income is at Rs 135.90 million in FY 2001 as against Rs 281.60 million in FY 2000. Extra-ordinary items amounting to Rs 12.10 million being profit on sale of investments in the shares of subsidiary companies has been adjusted in the net profit of the current year (Rs 2536 million (net of income tax) in FY2000) after consideration of which the net profit comes to Rs 1863.50 million as compared to Rs 4281.70 million in the year ended June 30, 2000. Interest expenditure (net) has increased from Rs 987.10 million in FY 2000 to Rs 1340.80 million in FY 2001. The Board of Directors has recommended the dividend on equity shares at the rate of Rs 5 per share as against Rs 4 in the previous year.

Balrampur Chini Q1 net up by 1.077%, Total Income up by 36.02%

Balrampur Chini Mills Ltd has posted a net profit of Rs 103.20 million for the quarter ended June 30, 2001 as compared to Rs 102.10 million in the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 1400.20 million as against Rs 1029.40 million in the quarter ended June 30, 2000. The company has made a provision of Rs 15.50 million towards deferred tax during the quarter ended June 30, 2001.

Esab India Q1 net down by 79.23%

Esab India Ltd has posted a net profit of Rs 6.50 million for the quarter ended June 30, 2001 as against Rs 31.30 million in the same period last year. Net Sales/Income from operations is lower at Rs 314.50 million come for the quarter ended June 30, 2001 as compared to Rs 366 million for the quarter ended June 30, 2000. Other Income is at Rs 5.80 million in JQ-01 as against Rs 4.30 million in JQ-00. The net profit for the current quarter has been arrived after considering exceptional items being VRS and related payments amounting to Rs 5 million (Rs 10.70 million in JQ-00)

Blue Star Infotech Q1 net up by 25.08%

Blue Star Infotech Ltd has posted a net profit of Rs 27.28 million for the quarter ended June 30, 2001 as against Rs 21.81 million in the same period last year. Total Income for the quarter ended June 30, 2001 is at Rs 129.03 million as against Rs 113.39 million for the quarter ended June 30, 2000.

MRF Q3 net down by 38.88%

MRF Ltd has posted a net profit of Rs 81.90 million for the quarter ended June 30, 2001 as compared to Rs 134 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs s4396.90 million as compared to Rs 5034.40 million in the quarter ended June 30, 2000.

BASF Q1 net up by 97.21%

BASF India Ltd has posted a net profit of Rs 113.40 million for the quarter ended June 30,2001 as compared to Rs 57.50 million in the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 1516.20 million as against Rs 956.70 million in JQ 2000. Crop protection chemicals business, which forms a significant portion is seasonal in nature and hence the quarterly figures need not be representative of the full year.

Reliance Industries Q1 net up by 13.81%

Reliance Industries Ltd has posted a net profit of Rs 6180 million for the quarter ended June 30, 2001 as compared to Rs 5430 million in the corresponding period last fiscal. Total Sales for the quarter ended June 30, 2001 are at Rs 57560 million as against Rs 60130 million in the quarter ended June 30, 2000. Other income has increased from Rs 780 million in JQ 2000 to Rs 1270 million in the quarter ended June 30, 2001.

Ajanta Pharma Q1 net down by 96.75%

Ajanta Pharma Ltd has posted a net profit of Rs 0.76 million for the quarter ended June 30, 2001 as compared to Rs 23.43 million in the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 130.80 million as compared to Rs 229.22 million in JQ 2000. With the company's policy to exist from tender business specially the low margin generic products, there is a sharp fall in the turnover for the quarter.

Finolex Cables Q1 net up by 12.16%

Finolex Cables Lid has posted a net profit of Rs 104.20 million for the quarter ended June 30, 2001 as compared to Rs 92.90 million in the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 1025.70 million as compared to Rs 603.30 million in the quarter ended June 30, 2000. There are continued signals of slow economic growth for the remaining period of the year. The Management however is positive about the outlook for the remaining year, on the background of expected volumes of JCFC in the domestic market and export of Foam Skin Jelly Filled Telephone Cables.

HDFC Bank Q1 net up by 33.78%

HDFC Bank Ltd has posted a net profit of Rs 620.10 million for the quarter ended June 30, 2001 as against Rs 463.50 million for the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 4554.70 million as compared to Rs 3227.40 million for the quarter ended June 30, 2000. The bank has listed its stock in the form of American Depository Shares (ADS) on the New York Stock Exchange on the 20th July 2001 at a price of USD 13.83 per ADS. Each ADS represents 3 equity shares. The issue size was USD 150 million plus a green shoe over allotment option of 15% (USD 22.5million) which was exercised. Consequent to this issue the share capital of the bank has increased by Rs 374.20 million and reserves of the bank have increased by Rs 7429.20 million as share premium after charging off issue related expenses.

United Phosphorus Q1 net profit down by 51.44%

United Phosphorus Ltd has posted a net profit of Rs 30.31 million for the quarter ended June 30, 2001 as compared to Rs 62.41 million in the corresponding period last fiscal. Total Income has reduced from Rs 1175.85 million in JQ 2000 to Rs 1085.47 million in the quarter ended June 30, 2001.

Chennai Petro Q1 net profit at Rs 102.10 million

Chennai Petroleum Corporation Ltd has posted a net profit of Rs 102.10 million for the quarter ended June 30, 2001 as compared to Rs 19.50 million in the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 16093.40 million as compared to Rs 16948.10 million in the quarter ended June 30, 2000.

e-Serve International JQ-01 net at Rs 18.40 million

e-Serve International Ltd has posted a net profit of Rs 18.40 million for the quarter ended June 30, 2001 as compared to Rs 0.40 million in the corresponding period last fiscal. Net Sales have increased from Rs 120.90 million in JQ 2000 to Rs 377.80 million in the quarter ended June 30, 2001. Pursuant to the approval granted by the shareholders on 12th December 2000, the scheme of amalgamation between Citicorp Credit Services India Limited (CCSIL) with the Company was approved by the High Court of Bombay and New Delhi on 14th February, 2001 and on 31st March 2001 respectively and the same has been put into effect as of July 01, 2000. In accordance with the said scheme, 16,00,000 equity shares of Rs10/- each are to be issued to the shareholders of CCSIL, in the ratio of four shares of the company for every five shares held in CCSIL. Pending certain approvals to process the allotment the paid up equity share capital of the company does not reflect the amount of Rs 1,60,00,000. In view of the aforesaid the figures for the current quarter are not comparable to those of the quarter ended June 30, 2000.

Mphasis BFL CFO resigns

Mphasis BFL Ltd has informed BSE that Mr K Venkatesh has resigned as the Executive Director & Chief Financial Officer of the company.

Sri Adhikari Bros Q1 PAT down by 17.56%

Sri Adhikari Brothers Television Network Ltd has posted a profit after tax of Rs 37.99 million in the quarter ended June 30, 2001 as compared to Rs 46.09 million in the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 216.85 million as against Rs 208.16 million in the quarter ended June 30, 2000. Extra-ordinary items Rs 6.97 million in the current quarter relates to liquidation of investments made by the Company in various bonds & G Sec schemes of mutual funds for which dividend is received by the Company. The net profit after consideration of extra-ordinary items comes to Rs 31.02 in JQ 2001 as against Rs 46.09 million in JQ 2000.

Mastek FY-01 results on August 03, 2001

A meeting of the Board of Directors of Mastek Ltd has been convened on August 03, 2001 to: 1) Approve and sign the audited accounts of the company for the financial year ended June 30, 2001. 2) Recommend dividend, if any on equity shares. 3) To fix the dates of book closures

Gillette India posts Rs 9.70 million as net loss in Q2

Gillette India Ltd has posted a net loss of Rs 9.70 million for the quarter ended June 30, 2001 as compared to net loss of Rs 38.30 million in the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 1051.40 million as against Rs 1042.90 million in the corresponding period last fiscal. Depreciation Charge has increased from Rs 57.30 million in JQ 2000 to Rs 81.80 million in JQ 2001 while staff costs have increased from Rs 72.70 million to Rs 97 million in the quarter ended June 30, 2001. The figures for the quarter June 30,. 2000 include unaudited figures of erstwhile Duracell (India ) Ltd and Wilkinson Sword India Ltd, since merged with the company effective January 1, 2000. The Company has reported that domestic sales for the current quarter are lower on account of trade Destocking initiatives taken by the Company, following the worldwide initiative of the Gillette Company to rationalise trade inventories with resultant improvement in working capital.

TV 18 Board meeting to consider JQ-01 results postponed to August 07, 2001

Television Eighteen India Ltd has informed BSE that the meeting of the Board of Directors of the Company which was scheduled to be held on August 04, 2001 has been postponed to August 07, 2001. This is due to unavailability of the Directors on account of Raksha Bandhan on that day i.e. August 04, 2001. The venue and agenda items remain the same.

HPCL Q1 net up by 1.71%

Hindustan Petroleum Corporation Ltd has posted a net profit of Rs 2040.60 million for the quarter ended June 30, 2001 as compared to Rs 2006.30 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 114636.50 million as against Rs 111428.80 million in JQ 2000.

Cholamandalam Investment announces change in management structure

Cholamandalam Investment & Finance Company Ltd has informed BSE about the following changes about change in the constitution of the Board: Mr A Alagappan has been appointed as an Additional Director of the company. Mr Partho S Datta has been appointed as an additional director of the company. Mr M V Subbiah, Chairman has stepped down from Board as a Director.

Adlabs Films Q1 net up by 69.39%

Adlabs Films Ltd has posted a net profit of Rs 43.91 million for the quarter ended June 30, 2001 as compared to Rs 25.92 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 161.70 million as against Rs 116.35 million in JQ 2000. Imax Adlab Dome theatre opened to public on March 31, 2001. Multiplex Theatres project is nearing completion and one screen out of four screens will be operational next month and remaining screen will be operational from September 2001.

TVS Suzuki Q1 net down by 47.77%

TVS Suzuki Ltd has posted a net profit of Rs 107.60 million for the quarter ended June 30, 2001as compared to Rs 206 million in the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 4070.90 million as compared to Rs 4507.90 million for the quarter ended June 30, 2000.

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