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Financial Daily
from THE HINDU group of publications

Thursday, November 02, 2000

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Corporate

Coal
`Coal industry has much to learn from UK model'
THE coal industry which is now in the process of deregulation and liberalisation has a lot to learn from the British experience of privatisation, according to the Minister of State for Coal, Mr N.T. Shanmugham.

Corporate
Petrofils staff cautious about wind up terms
THE Cabinet approval to wind up the Vadodara-based Petrofils Co-operative Ltd (PCL) has caught both the management and the employees union by surprise, mainly on account of the abruptness with which it has finally come.

SEBI to allot 1 cr for investor education
MUMBAI: The Securities and Exchange Board of India (SEBI) has decided to earmark a sum of Rs 1 crore for reimbursement to the Investors' Associations registered with it for organising 200 seminars for investor education in various cities.

Investors associations' regn renewed
MUMBAI: The Securities and Exchange Board of India (SEBI) has renewed the registration of six investors' associations for a period of 3 years and has granted provisional registration for a period of one year to two investors' associations.

Indo Rama revises product prices
NEW DELHI: Indo Rama Synthetics (I) Ltd (IRSL) on Wednesday announced the revised prices for its products that would be applicable from November 1.

BOC India bids for BSP's oxygen plants
BOC India Ltd has bid for Bhilai Steel Plant's (BSP) oxygen units. There are three units, each with a capacity of 500 tonnes.

Sun F&C to expand operations
KOCHI: Sun F&C Asset Management (India) Pvt Ltd, the Indian joint venture of the Hypo Foreign & Colonial Group and Sun Securities (India) Pvt Ltd, has drawn up plans for rapid expansion of its mutual fund business in the country.

Sterlite board okays buyback at Rs 200
THE board of directors of Sterlite Industries (India) Ltd (SIIL) has approved a buy-back of its shares at a price of Rs 200 per share.

Financial Performance
MTNL posts Rs 447 cr net in Q2
NEW DELHI: Mahanagar Telephone Nigam Ltd (MTNL) has registered a growth of 38.52 per cent in its net profit for the second quarter ended September 30, 2000, at Rs 447 crore against Rs 323 crore in the corresponding period last fiscal.

Himachal Futuristic net up
NEW DELHI: Himachal Futuristic Communications Ltd (HFCL) on Wednesday reported a 394 per cent jump in net profit at Rs 94.6 crore during the quarter ended September 30, 2000, against Rs 19.48 crore registered in the corresponding period last fiscal.

Apollo Tyres Q2 net slumps
NEW DELHI: Apollo Tyres Ltd (ATL) has reported a net profit of Rs 6.25 crore for the quarter ended September 30, 2000, a 68.21 per cent decline to the net profit of Rs 19.66 crore recorded in the same period during the previous year.

Astra-IDL
BANGALORE: Astra-IDL has posted a 23.87 per cent growth in its net profit for the quarter ended September 30, 2000.

Arvind Mills H1 net loss up at Rs 203 cr
AHMEDABAD: Arvind Mills Ltd (AML) has registered a higher net loss during the first half of the current fiscal at Rs 203.73 crore as against Rs 103.11 crore in the corresponding period last year. The poor showing came against a mounting interest cost of Rs 170.5 crore which has more than doubled from Rs 81.86 during the first six months of 1999-2000. The company had returned a net loss of Rs 271.43 crore for the full financial year of 1999-2000.

Cosmo Films
NEW DELHI: Cosmo Films Ltd, one of the players in the domestic BOPP flexible packaging industry, has posted a net profit after tax to the tune of Rs 3.21 crore (Rs 1.44 crore) in the second quarter ended September 30, 2000.

Eveready net drops 50 pc in Q2
CALCUTTA: Eveready Industries has recorded a net profit of Rs 14.19 crore on net sales and income from operations of Rs 216.63 crore for the quarter ended September 30, 2000, compared to Rs 28.39 crore and Rs 227.87 crore, respectively, for the correspon ding period of the previous year.

Hindustan Motors
Hindustan Motors has posted a net loss of Rs 24.08 crore on net sales and income from operations of Rs 369.12 crore for the quarter ended September 30, 2000 compared to the loss of Rs 22.7 crore and turnover of Rs 327.38 crore recorded in the correspondi ng period of the previous year.

Srei International income at Rs.97.95 crore
CALCUTTA: Srei International Finance Ltd (SIFL), an infrastructure finance company, has posted a total income of Rs 97.95 crore during the first half of 2000-2001 against Rs 65.41 crore in the corresponding period of 1999-2000.

GTN Textiles net profit increases
COIMBATORE: GTN Textiles Ltd has recorded a four-fold increase in net profit for the quarter ended September 30, 2000. The net profit has soared to Rs 2.02 crore (Rs 48 lakh).

Kirloskar Brothers net increases
PUNE: Kirloskar Brothers Ltd has reported a net profit of Rs 3.51 crore for the quarter ended September 30, 2000 as against Rs 1.52 crore for the corresponding period of the previous year. Net sales for the period were Rs 108.59 crore (Rs 83.47 crore)

MCF's H1 net at Rs 19 cr
BANGALORE: Mangalore Chemicals and Fertilisers Ltd, a UB group company and BIFR case, has reported a net profit of Rs 19.02 crore for HI this year, as against a loss of Rs 3.88 crore in HI last year.

Malco net profit increases
MUMBAI: Madras Aluminium Company Ltd (Malco) has reported a 26 per cent rise in net profit at Rs 6.04 crore for the first quarter ended September 30, 2000 (Rs 4.79 crore).

Stewarts and Lloyds
CALCUTTA: Stewarts and Lloyds of India Ltd, a subsidiary of Tata Steel, registered a turnover of Rs 18.53 crore for the six months ended on September 30, 2000, against Rs 21.85 crore recorded in the corresponding period of 1999-2000. The net profit, howe ver, grew to Rs 87 lakh from Rs 44 lakh. -- Our Bureau

S.B & T International
MUMBAI: S.B & T International Ltd has posted a net profit of Rs 2.26 crore for the second quarter ended September 30, 2000 as against Rs 1.48 crore during the corresponding period last year.

Orchid Chemicals Q2 net drops 20%
CHENNAI: Orchid Chemicals and Pharmaceuticals Ltd has reported a net profit of Rs 8.17 crore for the second quarter ended September 30, 2000. This is a drop of 19.34 per cent over the net profit of Rs 10.13 crore registered during the second quarter of 1 999-2000.

JB Chemicals net increases
MUMBAI: JB Chemicals & Pharmaceuticals Ltd has reported a 61-per cent increase in profit after tax at Rs 7.51 crore in the quarter ended September 30, 2000 against Rs 4.65 crore in the corresponding period last year.

Sterlite Optical net up 103 per cent
Sterlite Optical Technologies Ltd (SOTL) has reported a 103-per cent increase in net profit at Rs 57.15 crore for the first quarter ended September 30, 2000 against Rs 28.21 crore in the year-ago period.

Geojit Securities net profit increases 84 per cent
KOCHI: The net profit of Geojit Securities Ltd has grown by 84 per cent to Rs 2.25 crore for the first six months of the current year, as against Rs 1.22 crore reported for the corresponding period of last year.

Snowcem India net profit increases
MUMBAI: Snowcem India Ltd has registered a 29-per cent increase in net profit at Rs 5.35 crore in the quarter ended September 30, 2000 as against Rs 4.13 crore in the corresponding period last year.

Titan Industries net up marginally
BANGALORE: Titan Industries Ltd has registered a net profit of Rs 10.65 crore in Q2 this fiscal against Rs 10.32 crore in the corresponding period last fiscal. The company's sales turnover was up from Rs 154.03 crore in the previous year to Rs 173.31 cro re, an increase of 12.5 per cent.

West Coast Paper posts Rs 7 cr net
WEST Coast Paper Mills Ltd (WCPL) has earned a net profit of Rs 7.41 crore on a total sales of Rs 96.57 crore during the second quarter of the current fiscal. The net profit was higher by 60 per cent as against Rs 4.83 crore earned during the same quarte r previous year.

SAIL prunes losses by 62 pc in H1
STEEL Authority of India Ltd. (SAIL) has incurred a loss of Rs 520 crore during the first half of the current fiscal (April-September, 2000), a decline of 62 per cent over the Rs 1,377-crore loss recorded in the corresponding period last year.

Patspin India
Patspin India Ltd has recorded Rs 1.46-crore net profit for the quarter ended September 30, 2000 as against a net loss of Rs 1.51 crore in the same period the previous year.

BHEL net profit at Rs.11.90 crore
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) has reported a net profit of Rs 11.90 crore for the quarter ended September 30, 2000 against a net profit of Rs 127.95 crore recorded during the corresponding quarter of the previous year.

Rajasthan Spinning net up
NEW DELHI: Rajasthan Spinning & Weaving Mills Ltd (RSWML) has reported a net profit of Rs 3.35 crore for the second quarter ended September 30, 2000 as against Rs 4.88 crore in the same period the previous year.

Rolta net profit rises 40 pc in Q3
MUMBAI: Rolta India Ltd (Rolta) has reported 50 per cent jump in total income to Rs 59.44 crore for the third quarter ended September 30, 2000 as against Rs 39.55 crore recorded in the same period the previous year.

Pharmaceuticals
IPCA Labs plans to enter US market next year
IPCA Laboratories Ltd plans to enter the US market by filing for a series of Abbreviated New Drug Applications (ANDAs) next year.

Albert David to give priority to bulk drugs
THE unhealthy price war and severe competition in the intravenous (IV) fluids sector has forced the 61-year-old Albert David Ltd to concentrate on formulations and bulk drugs.

Stocks
Demand for registration in ISE increasing
THE Inter-Connected Stock Exchange of India (ISE) has seen an increase in trader and dealer registration applications in the recent past.


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