The Hindu Business Line : Wednesday, January 29, 2003

Mikuni Corpn shifting part of R&D to Chennai — Ucal Fuel to take care of the work for a fee
MIKUNI Corporation, the Japanese collaborator of Ucal Fuel Systems Ltd, will shift a part of its R&D activities to Chennai. Ucal Fuel is looking for some real estate in the Ambattur industrial area to put up the Rs 20-crore R&D facility, which ... More

ANNOUNCEMENTS

Geneva Pharma retains loratidine exclusivity
THE rejoicing may have to wait for a later day for generic drug manufacturers preparing to reap the benefits of the change in status of anti-allergy drug Loratidine, from a prescription to an over-the counter (OTC) drug. Pharma industry ... More

ACCOUNTING STANDARDS

ICSI for experts panel to probe members' lapses
In its proposed amendments to the Company Secretaries Act, the institute has suggested the disciplinary committee should comprise members of the ICSI Council, who will be elected by the council. More

MANAGEMENT

HAL digs up Rs 12-lakh saving from wastes
`MONEY for nothing' just about sums up what Hindustan Aeronautics Ltd (HAL) has achieved through waste minimisation efforts. In a two-year period, a pilot project on waste minimisation at the company's aircraft division in Bangalore has ... More

FINANCIAL PERFORMANCE

CPCL net falls to Rs 32.38 cr in Q3
CHENNAI Petroleum Corporation Ltd (CPCL) has reported a net profit of Rs 32.38 crore for the quarter ended December 2002, which is lower than Rs 34.95 crore achieved in the corresponding quarter of last year. This was despite the turnover ... More

JB Chem records Rs 11.43-cr profit
JB Chemicals & Pharmaceuticals Ltd has registered a 13 per cent increase in net profit at Rs 11.43 crore in the quarter ended December 31, 2002 against Rs 10.04 crore in the corresponding period last year. Net sales have gone up marginally to ... More

Indian Rayon Q3 net zooms to Rs 40.08 cr
HELPED by improved revenues in all its business and an interest income of Rs 8 crore, Indian Rayon & Industries Ltd posted a substantial jump in its net profit at Rs 40.08 crore for the third quarter of 2002-03 against Rs 3.63 crore in the ... More

Core sector recovery boosts Apollo Tyres net 327% to Rs 25 cr
APOLLO Tyres Ltd has reported a net profit of Rs 25.47 crore during the third quarter ended December 31, 2002, representing a 327 per cent increase as against Rs 5.97 crore recorded in the same period during the previous year. Net sales during ... More

Sustained sales lift Lupin Q3 net
A SUSTAINED API (Active Pharmaceutical Ingredients) formulations sales helped Lupin Ltd attain a 23 per cent rise in net profit at Rs 22.66 crore for the quarter ended December 31, 2002, as against Rs 18.47 crore in the corresponding period last ... More

Dr Reddy's Q3 net slips 47 pc
IT looks like a year of serious setbacks for Dr Reddy's Laboratories Ltd, the Hyderabad-based Rs 1,651-crore pharmaceutical major listed on the New York Stock Exchange (NYSE). Close on the heels of termination of clinical trials on two of its ... More

Sundaram Brake Q3 net up at Rs 2.3 cr
SUNDARAM Brake Linings Ltd has reported a net profit of Rs 2.29 crore for the third quarter ended December 2002, up 26 per cent over Rs 1.81 crore achieved in the corresponding quarter of last year. Turnover increased 20 per cent from Rs 22.06 ... More

Orchid Chem Q3 PAT up 65 pc
ORCHID Chemicals &Pharmaceuticals has registered a profit after tax of Rs 3.71 crore for the quarter ended December 2002, about 65 per cent higher than the same registered in the corresponding period of the previous year. A statement said ... More

Steel price hike hits Tube Investment net
TUBE Investment of India Ltd's net profit for the third quarter of the current year has decreased to Rs 5.78 crore from Rs 7.32 crore in the same quarter of last year. The company has attributed the drop to the "sharp increase in the prices of ... More

Zee net up on higher income
MUMBAI: Zee Telefilms Ltd (ZTL) has posted a net profit of Rs 22.19 crore for the quarter ended December 31, 2002 as compared to Rs 23.91 crore in the year-ago quarter. Total income increased to Rs 141.13 crore in this quarter from Rs ... More

Sustained sales growth boosts Eicher net 78 pc
NEW DELHI: Eicher Motors Ltd's (EML) net profit has increased by 78.5 per cent to Rs 10.48 crore during the third quarter of the current fiscal from Rs 5.87 crore in the corresponding period last year. The company's total income has ... More

Ipca Labs net zooms 115 pc
MUMBAI: Buoyed by rising export figures, the Mumbai-based Ipca Laboratories has registered a 115 per cent increase in net profit at Rs 15.94 crore in the third quarter ended December 31, 2002 as against Rs 7.4 crore in the corresponding ... More

Market recovery helps SAIL post Rs 215-cr cash profit
STEEL Authority of India has recorded a cash profit of Rs 215 crore for the third quarter ended December 2002, as against a cash loss of Rs 297 crore during the corresponding period in the previous financial year, according to a company ... More

Regency Ceramics net down
HYDERABAD: Regency Ceramics Ltd (RCL) the Rs 135-crore ceramics manufacturer, has registered a growth in sales turnover and a decline in net profit for the third quarter of the current fiscal ended December 31, 2002. According to the ... More

Voltas records Rs 2.85-cr net
VOLTAS Ltd, a Tata Enterprise, today posted a net profit of Rs 2.85 crore for the third quarter ended December 31, 2002 compared to Rs 4 lakh, during the corresponding period last year. The company has recorded net sales of Rs 264.05 crore (Rs ... More

MRO-Tek Q3 PAT down 5 pc
MRO-TEK, a networking and last mile access solutions provider, recorded a five per cent dip in its profit after tax as compared to the corresponding period in the previous year. This was a recovery in revenues by 17.5 per cent for the third ... More

Hatsun Agro Q3 net dips
HATSUN Agro Product Ltd has reported a drop in net profit for quarter ended December 31, 2002, with a net of Rs 30 lakh on a sale of Rs 81.09 crore. The drop in net profit is attributed to the higher charge to depreciation, according to company ... More

Adlabs Films net rises

CREDIT RATING

Kudos for Crisil rating initiative
THE Indian initiative towards evolving a corporate governance rating found appreciation at the recent Colombo meet of the Asia Pacific Regional Council (APRC) of the International Organisation of Securities Commissions (IOSCO). "All of them ... More

RESTRUCTURING

Reliance to review power projects — May merge Reliance Power with BSES
RELIANCE Industries Ltd is reviewing all its independent power projects, following two recent developments - the company getting control of BSES Ltd, the Mumbai-based power utility, and discovery of major gas find by Reliance. Reliance is ... More

MERGERS & ACQUISITIONS

Grasim offers `alternative proposal' to L&T
THE much-talked-about "alternative proposal" from Grasim for the cement business of Larsen & Toubro is being submitted to L&T. Snatches of the proposal have been circulating for some time in industry circles now. The decision to submit the ... More

Tips Ind to buy arm's shareholding
THE board of directors of Tips Industries Ltd at the meeting held on Tuesday has decided to acquire the entire shareholding of Tips Films Pvt. Ltd thus making it a 100 per cent subsidiary of the company. The share swap ratio is 21 equity ... More

Philips Glass, PIL merger confirmed

NEW PROJECTS

Emerson plans centre in Pune
EMERSON Electric Co is establishing a new engineering centre in Pune, Emerson Design and Engineering Centre, for product design and software development, to meet the growing demand in the domestic as also the global markets. Mr Pradipta Sen, ... More

ADC India to start BPO operations
ADC (India) Communications & Infotech Pvt Ltd, the wholly-owned subsidiary of broadband company ADC Telecom, is expanding its India operations by foraying into back-office processing (BPO). It also plans to set up a team to support its global ... More

ALLIANCES & JOINT VENTURES

Pawan Hans plans to extend tie-up with Titan Aviation
Despite the initial hiccups, the State-owned Pawan Hans Helicopters Ltd (PHHL) plans to extend its tie-up with the South Africa-based Titan Aviation. Early last year, the company had entered into an agreement with Titan Aviation to scout for ... More

INTERVIEW

`Steel is no longer commodity, it's a product' — Mr Raman Madhok, Jt Managing Director & CEO, Jindal Iron
AMIDST better times for steel manufacturers, Jindal Iron & Steel Company Ltd (Jisco) could be said to have fared particularly well, courtesy its presence in galvanised steel and high share in exports of the same from India. Mr Raman Madhok, Joint ... More

STANDARDS & BENCHMARKS

Coimbatore firm gets ISO 9001

PERFORMANCE

WagonR sales pick up speed
WAGONR, the compact multipurpose vehicle that evoked a lukewarm response in the past, has emerged as the fastest growing vehicle in the Maruti stable as its sales have zoomed in recent months. A special edition launched in August 2002 along ... More

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