Satyam Computer announces results for 9 months ended Dec 31, 2000 under US GAAP

Satyam Computer Services Ltd in a communication issued to BSE has said that the company's profit as per Indian GAAP Financial Statement stood at Rs 3749.456 million for 9 months ended December 31 2000 as compared to Rs 884.935 million for the period ended December 31 1999. The conversion rate for 1US Dollar was Rs 45.39 for December 2000 as against Rs 43.32 for December 31 1999. Net Losses as per US GAAP Financial Statements stood at US$ 29.379 million for the 9 months ended December 31,2000 as compared to a net loss of US$ 1.951 million for same period last fiscal The primary reasons for net losses under US GAAP as compared to net profits under Indian GAAP are: a) the consolidation of the losses of their own subsidiaries b) the inclusion of deferred stock compensation expense c) the amortisation of goodwill and d) not recognizing the gain on sale by the company of shares in Satyam Infoway (Infoway) under US GAAP.

Indal FY-01 net up by 38.19%

Indian Aluminium Company Ltd. has posted a net profit of Rs 1160 million for the year ended March 31, 2001 as compared to Rs 839.4 million in the corresponding period last fiscal. Total Income is Rs 12876.3 for FY-01 as compared to Rs 10561.8 million in FY-00. The Board has recommended a divided of Rs 4 per ordinary share subject to the approval of shareholders in the AGM to be held on July 09,2001. In the line with the Company's strategy to focus on its core business, the Company divested its entire equity in Indal Extrusions Limited at a total consideration of Rs 50 million which after adjustment of advances resulted in a profit of Rs 13.6 million. This is included under other income.

Ranbaxy clarifies on news items

With reference to a news item appearing in a financial daily titled "Ranbaxy" sacks UK subsidiary brass for financial bungling " Ranbaxy Laboratories Ltd has informed BSE that Ranbaxy U.K. Limited (RUKL) has a current business of USD 20 million and has profit, which are normal to a generic market. In this context the figure quoted by the financial paper of Rs.400-450 million is grossly exaggerated and is absolutely out of line with the overall size of our business operations in this country. During the course of internal audit early this year of RUKL certain discrepancies were detected primarily on account of bonus goods and trade discounts to certain customers. The Regional Management based at London investigated the matter and took steps for recovery; practically, the entire amount involved has since been recovered and accounted for in the current year. The Company has since appointed a new Managing Director who has already assumed charge of the UK operations. RUKL continues to be a profit making company.

Sterlite Q3 net up by 51.96%

Sterlite Industries India Ltd. has posted a net profit of Rs 321.10 million for the quarter ended March 31, 2001 as compared to Rs 211.30 million for the quarter ended March 31, 2000. Total Income for the quarter ended March 31, 2001 is at Rs 6712.10 million as compared to Rs 5327.70 million in the corresponding period last fiscal. In order to make a meaningful comparison figures for the corresponding period of the previous year have been arrived after excluding figures pertaining to demerged telecommunications business. During the quarter the company acquired controlling stake in the Bharat Aluminium Company Ltd for a consideration of Rs 5515 million. Consequently BALCO has become a subsidiary of the company.

Raymond fixes Book Closure for Dividend

Raymond Ltd. has informed BSE that it has fixed the Book Closure from June5, 2001 to June 22,2001 for the purpose of A.G.M. and for declaring 30% Dividend.

Jammu and Kashmir Bank fixes book closure for Dividend

Jammu and Kashmir Bank Ltd. has informed BSE that it has fixed the Book Closure from June 1,2001 to June 11,2001 for the purpose of Dividend & AGM.

Indo Gulf Corporation fixes book closure for Dividend

Indo Gulf Corporation Ltd. has informed BSE that it has fixed the Book Closure from July 12,2001 to July 20, 2001 for the purpose of 24% Dividend

M&M reaches Wage Settlement at Nasik Auto Unit information

Mahindra & Mahindra Ltd has informed BSE that the Auto Sector of the company has reached a wage settlement with the Mahindra & Mahindra Employees Union at its automotive plant at Nasik. The settlement, a productivity and capacity linked agreement was signed on April 24, 2001. According to the new agreement the employees will receive an average wage increase of Rs 2400 per month in addition to an average ex-gratia payment of Rs 30000 per employee. In turn the employees will adopt the Mahindra Production System, which focuses on improved quality, higher productivity and reduced costs. Commenting on the settlement Mr. Alan Durante, Executive Director and President of the Automotive Sector of the Company said, "With the settlement, the productivity of the Nasik plant will increase substantially and will enable us to be more responsive to customer needs. It will also cut lead times and costs, change work practices and attitudes."

Dr Reddy's Laboratories announces U S GAAP information

Dr. Reddy's Laboratories Ltd. has announced certain additional U S GAAP financial results in connection with its ADS offering and merger with Cheminor, which was completed in February 20, 2001. The financial information set forth below is unaudited, except for the results for the year ended March 31,2000 which has been audited by KPMG, and has been prepared in accordance with U.S.GAAP. The financial information set forth below has been prepared on a pooled basis, reflecting their merger with Cheminor. Accordingly, such information is not necessarily indicative of the results expected for the quarter ended March 31,2001. Furthermore, their independent auditors, KPMG, have not performed any procedures with respect to their financial information for the period ended March 22, 2001. In the three month period ended December 31, 2000 total revenues were Rs 2563.6 million, net income was Rs.109.1 million and net income per share was Rs 3.45. Net income margin for the three months ended December 31,2000 was lower than the previous six months largely due to a change in product mix in their active pharmaceutical ingredients business. The company expects the net income margin for the three months ended March 31, 2001 to be higher due to a change in the product mix in their active pharmaceutical ingredients business as well as the contribution from the U.S. generic formulations sales, which began in December 2000. For the period from January 01, 2001 to March 22, 2001, total revenues were Rs 2651.2 million. Net income for the same period was Rs 186.3 million and net income per share was Rs 5.90. As previously reported, in the six month period ended September 30, 2000, total revenues were Rs 5161.2 million, net income was Rs 275.8 million and net income per share was Rs 8.73. For the fiscal year ended March 31, 2000 total revenues were 7976.2 million, net income was Rs 282.9 million and net income per share was Rs 8.95.

Zee Telefilms to publish FY-01 results by June 30, 2001

Zee Telefilms Ltd. has informed BSE that it will publish its Audited Financial results for the year ended March 31,2001, on or before June 30,2001.

Reckitt Benckiser Q1 net up by 1.04%

Reckitt Benckiser of India Ltd has posted a net profit of Rs 67.40 million for the quarter ended March 31, 2001 as compared to Rs 66.70 million in the corresponding period last fiscal. Total Income for the quarter ended increased from Rs 1377.80 million in MQ 2000 to Rs 1484.80 million in the quarter ended March 31, 2001.

Gillette India Q1 net down by 64.48%

Gillette India Ltd has posted a net profit of Rs 38 million for the quarter ended March 31, 2001 as compared to Rs 107 million in the corresponding period last fiscal. The Total Income for the quarter ended March 31, 2001 is at Rs 1080.20 million as compared to Rs 1102 million in the quarter ended March 31, 2000. The above financials are consolidated results of the Company and the erstwhile Duracell (India) Ltd and Wilkinson Sword India Ltd, since merged with the company effective January 1, 2000.

Rolta Q1 results on April 26,2001

In view of the Mumbai bandh declared by various organisations on April 25,2001, Rolta India Ltd. has rescheduled its meeting to April 26,2001 to declare Q1 results.

Skumars.com appoints Additional Director

Skumars.com has informed BSE that the Board of Directors have appointed Dr. Manu Sheth as additional Director of their Company at their Board Meeting held on April 19,2001.

ABB Q1 net at Rs 47.22 million, Income up by 34.39%

Asea Brown Boveri Ltd has posted a net profit of Rs 47.22 million for the quarter ended March 31, 2001 as compared to Rs 7.15 million in MQ 2000. The Total Income for the quarter ended March 31, 2001 is at Rs 2040.17 million as compared to Rs 1518.06 million in the corresponding period last fiscal showing a growth of 34.39% over the corresponding period last fiscal. Provision for taxation for the quarter ended March 31, 2001 is at Rs 13 million as against nil in MQ 2000. Considering the sluggish economic and the competitive market conditions the Company has registered a healthy order intake of Rs 2251 million during the quarter, as against the 2000 order intake for the corresponding period which was particularly high at Rs 3521 million as a result of a single large order from West Bengal State Electricity Board (WBSEB) worth approx.Rs 1320 million. The orders during the quarter were consistent across all Divisions and strategic growth initiatives relating to service, exports and standard products continued to yield good results.

German Remedies FY-01 results on May 21,2001

German Remedies Ltd. has informed BSE that the Board of Directors of the Company will meet on Monday, May 21,2001, at 10.00 a.m. to consider the Audited Accounts for the year ended March 31, 2001 and also to consider recommendation of dividend if any, for the same period.

Ashok Leyland FY-01 net up by 16.81%

Ashok Leyland Ltd has posted a net profit of Rs 916.81 million for the year ended March 31, 2001 as compared to Rs 784.86 million in the corresponding period last year. Total Income for the year ended March 31, 2001 is at Rs 22625.76 million as compared to Rs 22659.54 million in the financial year ended March 31, 2000. The medium and heavy duty segment of the commercial vehicle industry declined by over 22% compared to the previous year. However, mainly on account of improvement in market share, the Company was able to maintain the Net Sales at almost the same level as in the previous year. The Board has recommended 40% dividend (Rs.4.00 per share)

Wockhardt Q1 net up by 13.07%

Wockhardt Ltd has posted a net profit of Rs 173 million for the quarter ended March 31, 2001 as compared to Rs 153 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is up by 17.60% as compared to MQ 2000. The Total Income for the quarter ended March 31, 2001 is at Rs 1303 million as compared to Rs 1108 million in the quarter ended March 31, 2000.

Sterlite Industries Q3 results on April 24, 2001

Sterlite Industries Ltd has informed BSE that on account of the proposed "Maharashtra Bandh" on April 25, 2001 the meeting of the Board of Directors of the company to consider unaudited financial results for the third quarter ended March 31, 2001 has been rescheduled and will be held today evening i.e. on April 24, 2001.

Jindal OnLine.Com fixes Record Date for Stock Split

Jindal OnLine.Com has informed BSE that it has fixed the Record Date as May 15, 2001 for the purpose of Stock Split of existing equity shares - from every one existing equity share of Rs.10 each into ten equity shares of Re.1 each.

VisualSoft Tech Q4 net up by 73.14%, FY-01 net up by 117.68%

VisualSoft Technologies Ltd has posted a net profit of Rs 156.78 million for the quarter ended March 31, 2001 as compared to Rs 90.55 million in the corresponding period last fiscal. Total Income for the quarter ended increased from Rs 228.77 million in MQ 2000 to Rs 345.21 million in the quarter ended March 31, 2001. Net profit for the financial year ended March 31, 2001 stood at Rs 617.85 million as compared to Rs 283.83 million in the corresponding period last fiscal. Total Income for the financial year ended March 31, 2001 is at Rs 1356.01 million as compared to Rs 702.39 million in the financial year ended March 31, 00. During the quarter/year ended March 31, 2001 the company has earned an extraordinary income of Rs 34.13 million which represents deferred employee compensation written back due to cancellation of ESOP with the consent of the employees. VisualSoft has entered into an agreement with Sun Microsystems. The VisualSoft JBPro suite of visual components will be integrated with the Forte(tm) for Java(tm) product to help developers improve their productivity and to facilitate quicker time to market. The suite includes components, delivered using JavaBeans technology, that perform time and task management, project management, charting for business applications, data display and manipulation, and calendaring applications.

Hindustan Lever Q1 net up by 29.29%, Board approves amalgamation of Int Bestfoods & Aviance

Hindustan Lever Ltd has posted a net profit of Rs 3395.30 million for the quarter ended March 31, 2001 as compared to Rs 2626.10 million for the quarter ended March 31, 2000. Net sales for the quarter ended March 31, 2001 are at Rs 26425.1 as compared to Rs 26140.7 million in MQ 2000. Other income for the quarter ended March 31, 2001 is at Rs 1022 million as compared to Rs 900.10 million in the corresponding period last fiscal. Hindustan Lever Ltd has informed BSE today that the Board of Directors approved the proposal for amalgamation of International Bestfoods Limited and Aviance Limited with the company with effect from January 1, 2001. Subject to obtaining the requisite approvals, the Board also approved the Scheme of Amalgamation of International Bestfoods Limited and Aviance Limited with the Company whereunder it is proposed that for every three (3) equity shares of Rs 10 each of International Bestfoods Limited, its shareholders would receive two (2) fully paid shares of Rs 1 each of Hindustan Lever Limited. However, no share exchange ratio has been proposed for Aviance Limited in view of its status as a 100% subsidiary of the company and the fact that consequent to the amalgamation, the entire shareholding would stand cancelled. Steps are now being taken to obtain the approval of the shareholders and the Hon'ble High Court of Judicature at Bombay for the Scheme of Amalgamation. The results of the current quarter and the year are not comparable to those of the previous year to the extent of : (a) Sale of the Animal Foods business of the Company to Goldmohur Foods and Feeds Ltd, a subsidiary company, effective April1, 2000. (b) Integration of the Tea Exports business of Lipton India Exports Ltd, a 100% subsidiary with the company effective April 1, 2000, and (c) Exceptional Item in the current quarter, being income (Rs 225.90 million) arising from transfer of Interest in the Animal Feeds business, to the Godrej group.

ICICI acquires 6.4 % equity in Kirloskar Ferrous.

Kirloskar Ferrous Industries Ltd. has informed BSE that ICICI Limited has acquired 4 million equity shares representing 6.4%of the Company. The aforesaid disclosure was received by the company on April 23,2001 and pursuant to Regulation no.7 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, the same was intimated to BSE.

Kesoram Industries Board approves merger of 3 companies

Kesoram Industries Ltd has informed BSE that the Board of Directors of the company has in principle approved the merger of Hindustan Heavy Chemicals, Birla Century Finance Ltd. and Bharat General & Textile Industries Ltd. with the company.

Hind Lever Chemicals Q1 results on April 30,2001

Hind Lever Chemicals Ltd has informed the BSE that a meeting of Board of Directors would be held on April 30, 2001 to consider Unaudited Financial Results for the Quarter ended March 31, 2001.

Nicholas Piramal FY-01 results on May 03, 2001

A meeting of the Board of Directors of Nicholas Piramal India Ltd has been convened on May 03, 2001 to consider Audited Accounts for the year ended March 31, 2001 and declaration of dividend if any.

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