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

Monday, July 30, 2001

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Corporate

Corporate
Part of RPG Life Sciences to be sold off
RPG Life Sciences Ltd (RPGLS), the erstwhile Searle India, a pharma and agrochem company of the RPG Group, has reached an agreement with an Italian company ISAGRO SpA, for selling its agrochemicals division as a going concern, subject to necessary approv als.

Financial Performance
Glaxo India remains hamstrung
GLAXO India's financial performance for the first half of 2001 was on expected lines. Adversely impacted by the slowdown in the pharmaceutical market and increasing competition, Glaxo's sales declined by about 16 per cent, in relation to the correspondin g period of the previous year, to record Rs 393 crore.

CPCL posts Rs 10.21-cr net
CHENNAI: Chennai Petroleum Corporation Ltd has posted an over five-fold increase in net profit and a marginal drop in income from operations for the quarter ended June 30, 2001 over the previous year period.

Srei International Fin net profit at Rs 3.44 crore
KOLKATA: Srei International Finance has recorded a nearly 33 per cent increase in net profit at Rs 3.44 crore for the first quarter ended June 30, 2001, against the Rs 2.59-crore achieved during the same period the previous year.

Neuland Labs net profit at Rs 1.15 crore
HYDERABAD: Neuland Laboratories Ltd, the Hyderabad-based Rs 89-crore pharmaceutical company, has registered a significant growth both in turnover and net profit for the first quarter of the current fiscal ended June 30, 2001.

Matrix Labs net profit increases to Rs 2.03 crore
Hyderabad: Matrix Laboratories Ltd, the Hyderabad-based Rs 61-crore pharmaceutical company, has registered a substantial growth both in turnover and net profit for the first quarter of the current fiscal ended June 30, 2001.

VJIL Consulting net profit down at Rs 35.55 lakh
Hyderabad: The general slowdown in the US markets has impacted the performance of VJIL Consulting Ltd, a Hyderabad-based IT consulting, solutions and education company.

Hotels
Indian Hotels looks to north Mumbai
IN a bid to sustain and grow its market share in the city, the Indian Hotels Company Ltd (IHCL), is looking at expanding in the north Mumbai region, a company official said.

Management


`Cos must make and break rules'
WHEN a management guru promises growth models that work even during slowdowns, it is natural to expect his audience to listen enthralled.

Power
Sale of stake best option, says Enron
ENRON India on Saturday said selling its interests in Dabhol Power Company to the Union Government or lenders to the project ``is the best approach'' to resolve the dispute between DPC and the State Electricity Board.

Travel & Places
OCB denial puts tourism project off the track
RAMESHWAR Vaibhav Development Private Limited's Rs 2,150 crore International Tourist City at Pen-Alibag in Raigad district of Maharashtra has run into trouble following rejection of its application for overseas commercial borrowings (OCB) by the External Commercial Borrowing (ECB) Department under the Ministry of Finance.


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