The Hindu Business Line : Saturday, February 01, 2003

Adverse profile forces DRL to drop trials
The company has suffered a significant setback on its drug discovery activities both in terms of revenues and profits during the first nine-month period of current fiscal ended December 31, 2002. More

ANNOUNCEMENTS

Change of guard at Wipro HealthScience
WIPRO Ltd has announced the appointment of Mr T.K. Kurien as President of Wipro HealthScience, the new business segment formed in April 2002. Mr Kurien replaces Mr D.A. Prasanna who was appointed Vice-Chairman and CEO of HealthScience barely a ... More

STRATEGY

HCL Tech changes strategy — Reduces high-end software portfolios
THE Shiv Nadar-promoted HCL Technologies is on a rebalancing exercise of its client portfolio, reducing high technology software work to contain the impact of the global technology meltdown. Instead, HCL Tech was now increasing its exposure to ... More

FINANCIAL PERFORMANCE

Higher output boosts ONGC net 84 pc
OIL and Natural Gas Corporation (ONGC) recorded a turnover of Rs 7,588 crore and a net profit of Rs 2,593 crore for the third quarter of the current fiscal ended December 31, 2002. This corresponds to a 35 per cent rise in turnover and an 84 per ... More

Improved efficiencies boost Colgate net up 33 pc
EFFORTS to reduce operational costs and improve efficiencies facilitated Colgate-Palmolive (India) Ltd to post a 33 per cent increase in net profit for the third quarter ended December 31, 2002, at Rs 21.1 crore compared to Rs 15.9 crore during ... More

Sun Pharma net up 20 pc on higher sales
SUN Pharmaceutical Industries Ltd has reported a 20.4 per cent jump in net profit for the third quarter ended December 31, 2002 at Rs 55.9 crore (Rs 46.41 crore). During the quarter, the company issued bonus shares in the ratio 4:1 in the form ... More

Raymond Q3 net up at Rs 19 cr
RAYMOND Ltd has posted a net profit of Rs 19.1 crore in the third quarter ended December 31, 2002, a 2.63 per cent increase as against Rs 18.61 crore recorded in the previous corresponding period. According to a press release, the profit ... More

Balaji Telefilms net up at 105 pc
MUMBAI: Balaji Telefilms Ltd has reported a 105 per cent increase in net profit at Rs 17.47 crore for the third quarter of 2002-2003 as against Rs 8.51 crore in the year-ago period. Income from operations rose from Rs 30.19 crore to ... More

Glaxo achieves zero debt status — Fourth quarter profit declines 33 pc
A MASSIVE re-engineering exercise undertaken by nutritional healthcare major GlaxoSmithKline Consumer Healthcare Ltd (GSKCH) to revamp its cost structure has begun to bear fruit. The company has reported a considerable improvement in its working ... More

TVS-Electronics net dips
CHENNAI: TVS-Electronics has reported a reduced net profit of Rs 45 lakh on a turnover of Rs 56.16 crore for the fourth quarter ended December 31, 2002, as against a net profit of Rs 1.23 crore on a turnover of Rs 52.67 crore during the ... More

HPCL Q3 profit zooms
HIGHER refinery and marketing margins combined with subsidy income and a lower profit base last year has pushed Hindustan Petroleum Corporation Ltd's third quarter net profit up to Rs 330.62 crore (Rs 60.8 crore). The company has announced an ... More

Bharat Electronics Q3 net up 106 pc
BANGALORE: Bharat Electronics has posted a net profit of Rs 53.1 crore for the quarter ended December 31, 2002. This marks a growth of 106 per cent over Rs 25.75 crore posted during the same quarter of 2001. Net sales from operations ... More

SSI net plunges to Rs 16 lakh
SSI Ltd has reported a reduced net profit of Rs 15.98 lakh on a revenue of Rs 58.51 crore for the quarter ended December 31, 2002 as against a net profit of Rs 1.73 crore on a revenue of Rs 66.07 crore during the corresponding period last ... More

DCM Shriram
NEW DELHI: DSCL (DCM Shriram Consolidated Ltd) has posted a net profit of Rs 12.31 crore for the quarter ended December 31, 2002, almost a four-fold increase compared to Rs 3.11 crore in the corresponding period last year. According ... More

Aurobindo sales, net up in Q3
AUROBINDO Pharma Ltd (APL), a Hyderabad-based Rs 1,052-crore pharmaceutical company, has registered a marginal growth of 5.7 per cent in turnover and 5.22 per cent in the net profit for the third quarter of the current fiscal year ended December ... More

Bank conversion expenses trim Kotak MFL net
KOTAK Mahindra Finance Ltd (KMFL), which is expected to start operations as a commercial bank shortly, has posted a net profit of Rs 11.29 crore for the third quarter ended December 31, 2002 compared to Rs 10.83 crore during the corresponding ... More

Retention price cut, poor demand hit MCF Q3 net
MANGALORE Chemicals & Fertilizers Ltd has reported 82 per cent drop in net profit before tax at Rs 4.72 crore for the third quarter ended December 31, 2002. The turnover is marginally down by one per cent. According to a company statement, ... More

Drop in sales turnover hits TNPL net
THE Tamil Nadu Newsprint and Papers Ltd (TNPL) has posted a lower net profit of Rs 3.02 crore on a reduced sales turnover of Rs 106.04 crore for the quarter ended December 31, 2002, against a net profit of Rs 3.97 crore on a sales turnover of Rs ... More

Precot Mills net up at 21 pc
COIMBATORE: Precot Mills Ltd has recorded a 21 per cent growth in sales during the quarter ended December 31, 2002 over the corresponding period of the previous year. As against its net sales of Rs.45.85 crore for the same period in ... More

Sundram Fasteners Q3 net up on higher sales
SUNDRAM Fasteners Ltd has reported a net profit of Rs 10.03 crore for the quarter ended December 2002, as against Rs 7 crore in the corresponding quarter of last year. The growth has come about from increased sales, mostly domestic. Domestic ... More

Exports drive Jubilant net up 191 pc in Q3
SPECIALITY chemicals company Jubilant Organosys Ltd has reported 191 per cent increase in net profit to Rs 13.1 crore for the third quarter ended December 31, 2002, as against Rs 4.5 crore in the corresponding quarter last year. Net sales ... More

P&G's Q2 net up at Rs 32 cr
PROCTER & Gamble Hygiene and Health Care has announced a five per cent growth in net profit, at Rs 32.04 crore for the second quarter ended December 31, 2002, up from Rs 30.62 crore during the corresponding period of the previous year. The ... More

Infotech Enterprises Q3 revenues up; net slips
Infotech Enterprises Ltd. has posted total revenues of Rs 31.95 crore for the quarter ended December 31, 2002, an increase of about 16.4 per cent; but profit after tax was lower at Rs 6.82 crore as against Rs 8.32 crore for the corresponding ... More

Kale Consultants net down
MUMBAI: Kale Consultants Ltd has posted a net profit of Rs 4.69 lakh for the third quarter ended December 31, 2002 compared to Rs 7.27 lakh for the corresponding period last year. The company's sales for the third quarter this year ... More

RESTRUCTURING

TNPL slashes cost through debt swap
TAMIL Nadu Newsprint and Papers Ltd (TNPL) has prepaid its World Bank loan enabling a drastic cut in its cost of debt, according to a press release. TNPL has prepaid the $45 million outstanding in multi-currency loan with IBRD with an FCNR(B) ... More

Hind Sanitaryware board defers demerger
THE board of directors of Rs 215-crore Hindustan Sanitaryware & Industries Ltd (HSIL) has formally decided to "defer" the demerger of the company's Rs 100-crore glass container division into a separate entity. At its meeting on Saturday last, ... More

TRADE & LABOUR UNIONS

Titan staff give strike notice
THE unionised staff of Titan Industries Ltd, the country's largest watchmaker, has given a notice of strike to commence from February 14. On Friday, the company informed the BSE that it is continuing wage negotiations with the staff at the ... More

ALLIANCES & JOINT VENTURES

Rolls-Royce India to tie up with HAL
ROLLS-ROYCE India is to announce a tie-up with Hindustan Aeronautical Ltd (HAL) at the Aero India Air Show that gets underway in Bangalore from February 5. ``The announcement is to be made on the first day of the air show. It will be a ... More

PERFORMANCE

MMTC exports rise 38%
MMTC Ltd has clocked a 38 per cent growth in its exports of minerals and metals during the first three quarters of the current fiscal. The company's greater focus on business portfolios offering higher returns and across the board cost-cutting ... More

PEOPLE

ICI India gets new Chairman
ICI India has announced that Mr Aditya Narayan, currently the company's Managing Director, would become the Chairman from April 3, 2003. Mr Narayan would replace Mr Ashok Ganguly, who has decided to retire as the Chairman of ICI India from ... More

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