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

Wednesday, August 01, 2001

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Corporate

Corporate
Jaiprakash Ind to seek nod for investment in subsidiary
JAIPRAKASH Industries Ltd (JIL) will seek shareholders' nod at the forthcoming AGM on August 27 to invest an aggregate amount of up to Rs 138 crore, in one or more tranches, in the share capital of its subsidiary company Jaiprakash Hydro-Power Ltd (JHPL) .

TNEB may not extend deadline to SIV
THE Tamil Nadu Electricity Board (TNEB) is not likely to extend the deadline for SIV Industries to pay its dues amounting to Rs 2.8 crore.

Metal Box revival plan hits another roadblock
THE revival of Metal Box India Ltd, it appears, has again hit a roadblock, causing disillusionment among employees and others.

Financial Performance
Grasim net zooms 72% to Rs 102.24 crore
MUMBAI: Grasim Industries Ltd has reported a 72 per cent increase in net profit at Rs 102.24 crore for the quarter ended June 30, 2001 as against Rs 59.43 crore in the year-ago period.

Astra Microwave net profit at Rs 1.08 crore
HYDERABAD: Astra Microwave Products Ltd (AMPL) has registered a significant growth both in turnover and net profit for the first quarter of the current fiscal ended June 30, 2001.

Sathavahana Ispat net profit at Rs 77.93 lakh
HYDERABAD: Sathavahana Ispat Ltd (SIL) has registered a significant growth both in sales turnover and net profit for the first quarter of current fiscal year ended June 30, 2001.

HBL Nife net profit at Rs 59 lakh
HBL Nife Power Systems Ltd has registered a growth both in turnover and profit for the first quarter of current fiscal year ended June 30, 2001.

Coates of India net profit down at Rs 1.3 crore
KOLKATA: Coates of India Ltd, for the second quarter ended June 30, 2001, has recorded a drop in net profit at Rs 1.3 crore (Rs 2 crore). Net sales for the period under review, however, has increased to Rs 4.61 crore (Rs 4.29 crore).

Nagarjuna Construction net profit down at Rs 2.02 crore
HYDERABAD: Nagarjuna Construction Company Ltd has achieved a turnover of Rs 83.01 crore for the quarter ended June 30, 2001 against Rs 50.01 crore in the same period the previous year.

Ambika Cotton net down at Rs 69.89 lakh
COIMBATORE: In line with the general industry trend of rising input costs eroding the profitability, Ambika Cotton Mills Ltd has recorded a higher turnover but lower profit in the first quarter of the current fiscal.

Albert David turnover set to touch Rs 100 cr
FOR the first time in its 62 year-history, Albert David Ltd is confident of registering a Rs 100-crore turnover during the current financial year with the introduction of new drugs, which are highly profitable, according to the Executive Director, Mr K.P . Mundhra

Apollo Hospitals Q1 net down at Rs 6.5 cr
CHENNAI: Apollo Hospitals Enterprise Ltd has registered a net profit of Rs 6.5 crore in the first quarter of 2001-2002. This is a drop of 10.95 per cent from the net profit of Rs 7.3 crore registered during the corresponding period of the previous finan cial year.

AstraZeneca Q1 loss at Rs 99 lakh
BANGALORE: AstraZeneca Pharma India (formerly Astra-IDL Ltd) has posted a 42.69 per cent net loss for the quarter ended June 30, 2001. It showed net loss of Rs 99 lakh compared to a profit of Rs 173.96 lakh posted during the same quarter of 2000.

DCM Shriram net up at Rs 13.58 cr
NEW DELHI: DCM Shriram Consolidated Ltd (DSCL) has posted a higher profit before tax of Rs 13.58 crore for the first quarter of the current financial year against Rs 10.02 crore in the previous year.

Finolex Cables net up at Rs 10.42 cr
PUNE: Finolex Cables has reported a net profit of Rs 10.42 crore for the first quarter ended June 30, 2001 against Rs 9.29 crore in the same period the previous year.

Indo Gulf net rises 16% to Rs 50.47 cr
MUMBAI: Indo Gulf Corporation Ltd (IGCL) has reported a 16 per cent increase in net profit at Rs 50.47 crore for the first quarter ended June 30, 2001 as compared to Rs 43.34 crore in the year-ago period.

Graphite India net at Rs 4.40 cr in Q1
KOLKATA: As part of a `de-bottlenecking exercise' aimed at tackling recession, Graphite India Ltd shall focus almost all its resources on manufacturing UHP (ultra high power) electrodes.

Krebs Bio's Q1 profit increases
Krebs Biochemicals Ltd (KBL) has registered a growth of over 120 per cent in turnover and 75 per cent in net profit for the first quarter of the current fiscal ended June 30, 2001.



MRF's Q3 net down 32 pc; seeks Government support
MRF Ltd has reported a net profit of Rs 8.19 crore for the quarter ended June 30, 2001, 31.6 per cent lower than the Rs 11.98-crore recorded in the corresponding quarter of last year.

Lupin profit up at Rs 16.11 cr in Q1
MUMBAI: Lupin Ltd has posted an increase in net profit at Rs 16.11 crore in the first quarter ended June, 30, 2001 against Rs 2.08 crore in the corresponding period last year.

Madhucon Projects net profit at Rs 2.81 crore
HYDERABAD: Madhucon Projects Ltd, engaged in the execution of infrastructure projects such as national highways, has earned a net profit of Rs 2.81 crore for the first quarter of the current fiscal ended June 30 (Rs 1.43 crore).

Mahindra Ugine's Q1 net
MUMBAI: Mahindra Ugine Steel Company Ltd has reduced its net loss to Rs 2.27 crore for the quarter ended June 30, 2001, compared to a net loss of Rs 7.24 crore in the year-ago period.

Parry Agro net loss at 2.06 cr
CHENNAI: Parry Agro Industries Ltd has reported a net loss of Rs 2.06 crore on a sales of Rs 19.71 crore for the three months ended June 30, 2001 against a net profit of Rs 1.24 crore on a sales of Rs 21.03 crore during the corresponding period in the pr evious year, according to a company press release.

Premier Explosives net dips
Premier Explosives Ltd (PEL) has registered a significant growth in turnover and a fall in net profit for the first quarter of the current fiscal ended June 30, 2001.

Padmalaya Telefilms net profit at Rs 3.20 crore
HYDERABAD: Padmalaya Telefilms Ltd has earned a net profit of Rs 3.20 crore for the quarter ended June 30 against Rs 2.08 crore in the same period the previous fiscal.

Saw Pipes net down 30 pc at Rs 3.82 cr
NEW DELHI: Saw Pipes Ltd has reported a total income of Rs 56.92 crore for the quarter ended June 30, 2001 against Rs 138.22 crore in the same period the previous year.

Videocon Intl net at Rs 33.57 cr in Q1
MUMBAI: Videocon International has posted a net profit of Rs 33.57 crore for the quarter ended June 30, 2001 compared to Rs 33.04 crore during the corresponding period last year.

Voltas net vaults to Rs 1.77 cr
MUMBAI: Voltas Ltd has reported a 145 per cent increase in its net profit at Rs 1.77 crore for the quarter ended June 30, 2001 as compared to Rs 0.72 crore in the year-ago period.

Coromandel Fertilisers net profit at Rs 5.67 crore
HYDERABAD: Coromandel Fertilisers Ltd has posted a turnover of Rs 81.30 crore and a net profit of Rs 5.67 crore during the quarter ended June 30, 2001, against a turnover of Rs 85.72 crore and a profit of Rs 6.62 crore registered in the same period the p revious year.

Insurance
Bajaj brand name fetches Rs 45 crore from Allianz
domestic foray into insurance partnering Allianz, received a ``goodwill'' payment of Rs 45 crore from the German company for using the Bajaj brand.

Mutual Funds
US-64 leans heavily on other schemes
THE Unit Trust of India has relied heavily on schemes other than US-64 to generate income in the second half to cover the dividend payment for 2000-01.

Petrochemicals
Haldia Petro's PF default just a `procedural glitch'
THE surprise entry of Haldia Petrochemicals Ltd (HPL) in the list of provident fund (PF) defaulters - in the company of a clutch of jute companies, former blue-chips such as Dunlop and Shaw Wallace, and ailing PSUs - is being described as a ``procedural glitch'' by the HPL management.

Steel


`Tata Steel keen on attractive buys'
TATA Steel today enjoys pride of a place at Bombay House, having authored not just a turn around story but setting globally acclaimed standards in the steel industry. Mr R.C. Nandrajog, Vice-President (Finance), Tata Steel, spoke to Business Line on some of the issues facing the company. Excerpts:


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