THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Tuesday, May 01, 2001

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Corporate

Cement
Higher depreciation due to new projects: ACC
ASSOCIATED Cement Companies Ltd (ACC), which has registered a profit after tax of Rs 47.48 crore in 2000-2001 against a loss of Rs 58.85 crore in the previous fiscal, has said in a statement that depreciation during the year was higher on account of com missioning of Chanda, Madukkarai and various other projects and because of the full year impact of captive power plants of 25 MW each at Jamul and Kymore, commissioned in November 1999.

Corporate
T.C. Goel takes over at Dunlop
DR M.D. Shukla has been relieved by the management of Dunlop India Ltd of his assignment as president of the company with immediate effect.

GM's denial
With reference to the news item titled ``GM looking at DC to design Corsa derivative?'' that appeared in these columns on April 26, 2001, Mr P. Balendran, Vice President (Corporate Affairs), GM India, writes to say that the report is incorrect and purely speculative.

Entrepreneur programme
MR Mukesh D. Ambani, Vice-Chairman of Reliance Petroleum, will represent India at the `Ernst & Young world entrepreneur of the year' award programme to be held in Monte Carlo, Monaco, in May.

Mckinsey to do growth study for Saregama
MANAGEMENT consultants Mckinsey & Co has been appointed to carry out a growth study for Saregama India Ltd, the flagship entertainment company of the RPG group.

Abhishek Ind takes up Rs 60-crore expansion
ABHISHEK Industries Ltd (AIL), the Rs 300-crore cotton yarn and terry towels major belonging to the Punjab-based Trident group of industries, has embarked upon a major expansion programme in its terry towel division at a cost of Rs 60.3 crore.

PGM Entertainment to go Kollywood in Hollywood
TAMIL movie buffs in Silicon Valley have something more to do on their weekend like watching Kollywood movies.

Financial Performance
Century Textiles net jumps 56%
MUMBAI: Century Textiles and Industries Ltd has reported a 56 per cent increase in net profit at Rs 53.95 crore for the year ended March 31, 2001 against Rs 34.52 crore in the same period the previous year.

Super Spinning Mills register 35 pc growth
COIMBATORE: Super Spinning Mills Ltd has registered 35 per cent growth in its operative income for the financial year ended March 31, 2001. The company's net sales for the period rose to Rs 246.10 crore against Rs 181.42 crore in the previous year.

Panacea Biotech net profit at Rs 35.14 crore
NEW DELHI: Panacea Biotech Ltd has reported a net profit of Rs 35.14 crore (Rs 25.93 crore) for the financial year ended March 31, 2001. Income grew by 19 per cent to Rs 231.57 crore (Rs 194.24 crore).

Thiru Arooran Sugars net profit at Rs 6.43 crore
CHENNAI: Thiru Arooran Sugars Ltd has reported a net profit of Rs 6.43 crore on a net sales of Rs 18.86 crore for the quarter ended March 31, 2001, according to a company press release.

Madhucon Projects net profit at Rs 8.63 lakh
HYDERABAD: Madhucon Projects Ltd has posted a turnover of Rs 29.70 crore (Rs 39.66 crore) and a net profit of Rs 8.63 lakh (Rs 46 lakh) during the quarter ended March 31, 2001.

Grasim net up 62 pc; to pay 80 pc
GRASIM Industries Ltd has ended 2000-2001 with a 62 per cent increase in net profit at Rs 377.9 crore compared to Rs 233.1 crore in the earlier year. The board has recommended a dividend of 80 per cent as against 70 per cent.

Heritage Foods net profit at Rs 2.27 crore
Heritage Foods (India) Ltd has posted a turnover of Rs 36.54 crore and a net profit of Rs 2.27 crore for the quarter ended March 31, 2001 against a turnover of Rs 29.45 crore and a profit of Rs 1.5 crore registered in the same period the previous year.

DSQ Software net at Rs 28 cr in Q1
CHENNAI: DSQ Software Ltd has recorded a net profit of Rs 28.61 crore for the first quarter ended March 31, 2001 as compared to Rs 22.40 crore for the corresponding quarter in the previous year.

Hind Lever Chem net profit declines to Rs 3.99 crore
MUMBAI: Hind Lever Chemicals Ltd (HLCL) has registered a decline in net profit to Rs 3.99 crore for the quarter ended March 31, 2001 from Rs 8.19 crore in the same period the previous year.

MRF's Q2 net dips 75 pc to Rs 4.28 cr
CHENNAI: MRF Ltd has reported a net profit of Rs 4.28 crore for the quarter ended March 31, 2001, as against Rs 16.65 crore for the corresponding quarter of last year - a decline of 75 per cent.

GMDC posts Rs 62.19-cr net
GUJARAT Mineral Development Corporation Ltd (GMDC) has posted a net profit of Rs 62.19 crore on sale of Rs 218.21 crore for the year ended March 31, 2001. This reflected a 65 per cent rise over the Rs 37.57-crore net registered the previous year on a turnover of Rs 188.92 crore.

CESC register loss
KOLKATA: CESC Ltd, an RPG utility outfit, incurred a loss of about Rs 98 crore in 2000-01 on a total sales turnover of Rs 1,899 crore (unaudited), against a net loss of Rs 71 crore on a turnover of Rs 1,781 crore in 1999-2000.

Roofit Ind net rises 19.23 pc
ROOFIT Industries Ltd has registered a 19.23 per cent increase in net profit at Rs 11.16 crore in the third quarter ended March 31, 2001, against Rs 9.36 crore in the same period the previous year.

Reliance Industries -- Slipping up for the first time
It must be a new experience for Reliance Industries (RIL). After all these years of hectic growth in both sales and profits, RIL has, for the first time in recent memory, registered a drop in both these parameters in the fourth quarter of 2000-01.

Knoll Pharma net profit declines
MUMBAI: Knoll Pharmaceuticals Ltd has registered a fall in net profit at Rs 9.18 crore in the quarter ended March 31, 2001 against Rs 11.85 crore in the same period the previous year.

Shipping Corporation net profit zooms to Rs 401.59 crore
Shipping Corporation of India Ltd (SCI) has registered a significant rise in net profit to Rs 401.59 crore for 2000-2001, against Rs 161.61 crore in the previous fiscal.

Mutual Funds
JM Mutual plans gilt fund series
JM MUTUAL Fund has proposed to introduce a string of gilt funds with maturities ending between December 31, 2005 and December 31, 2015.

Pharmaceuticals
MRTPC clean chit to Knoll Pharma
KNOLL Pharmaceuticals Ltd has come out unscathed from allegations that it has increased its product prices and, therefore, was indulging in restrictive and monopolistic trade practices.


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