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from THE HINDU group of publications

Wednesday, October 31, 2001

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Corporate

Automobiles
M&M in talks with Russian co to sell UVs
AUTOMOBILE major Mahindra & Mahindra Limited (M&M) is in serious talks with the Sun Group of Russia to introduce the M&M range of utility vehicles (UVs) in that country.

No VRS setback to production, says Maruti
MARUTI Udyog Ltd today said it would be still be able to manufacture at 120 per cent of plant capacity despite 19 per cent of its workforce embracing the recently-closed voluntary retirement scheme (VRS).

Financial Performance
Apollo Tyres net skids 48 pc
NEW DELHI: Apollo Tyres Ltd (ATL) has reported a 48.48 per cent decline in net profit for the quarter ended September 30, 2001 to Rs 3.22 crore as against a net profit of Rs 6.25 crore recorded during the same period the previous year.

Coates of India Q3 net up 52 pc
KOLKATA: Coates of India, now a part of the Dainippon group of Japan (DIC), has recorded a 52 per cent increase in its net profit for the quarter (third) ended September 30, 2001 at Rs 2.73 crore (Rs 1.79 crore).

Sun Earth Ceramics Q1 sales, net up
MUMBAI: Sun Earth Ceramics Ltd, a part of the Rs 1,000-crore Motwani group, has reported sales of Rs 138.65 crore during the first quarter ended September 2001, up 139 per cent from Rs 57.99 crore recorded in the corresponding period previous year.

IOC H1 net down 31.47%
NEW DELHI: Volatile crude prices hit public sector Indian Oil Corporation (IOC) with its net profit for the first-half of the current financial year declining 31.47 per cent year-on-year to Rs 1,019 crore.

ONGC net at Rs 1,666.39 crore
Oil and Natural Gas Corporation (ONGC) has posted a net profit of Rs 1,666.39 crore for the second quarter ended September 30, 2001.

Asian Paints net down at Rs 29.62 cr
MUMBAI: Asian Paints India Ltd has posted a marginal drop in net profit at Rs 29.62 crore for the quarter ended September 30, 2001 as against Rs 30.46 crore in the corresponding period last year.

GAIL H1 net at Rs 544 crore
Public sector Gas Authority of India Ltd (GAIL) on Tuesday said it made a net profit of Rs 544 crore in the first-half of the current financial year, which is up 17.75 per cent from Rs 462 crore achieved in the year-ago period.

Novartis India net up 56 pc
MUMBAI: Novartis India has registered a 56 per cent increase in net profit at Rs 21.5 crore in the quarter ended September 30, 2001 as against Rs 13.7 crore in the corresponding period last year.

BSES net up 4 pc in 2nd quarter
BSES Ltd has recorded a four per cent rise in net profit at Rs 62.39 crore for the second quarter ended September 30, 2001. The Mumbai-based power major had posted a net profit of Rs 60.04 crore for the quarter ended September 30, 2001.

32 per cent drop in Sterlite net
MUMBAI: Sterlite Industries (India) Ltd has reported a 32 per cent decline in net profit at Rs 23.97 crore (Rs 35.49 crore) in the first quarter ended September 30, 2001.

Agro Tech Foods Q2 turnover up
HYDERABAD: Agro Tech Foods Ltd (AFTL) has posted a turnover of Rs 231.7 crore, other income of Rs 1.4 crore and a net profit of Rs 10 lakh for the quarter ended September 30, 2001.

Alstom Power 9-month turnover at Rs 511.1 cr
NEW DELHI: Alstom Power India Ltd has achieved a turnover of Rs 511.1 crore during the nine months of the current fiscal ended September 30, a company statement said here on Tuesday.

VSNL: Mixed signals
THE examination of the financial performance of Videsh Sanchar Nigam (VSNL) for the second quarter ended September 30, 2001 reveals a mixed picture. The revenues from international telephony and value-added services (excluding other income) has declined by 4.52 per cent to Rs. 1,595.40 crore in the second quarter compared to the corresponding period of the previous year.

Coromandel Fert nets Rs 28.4 cr
COROMANDEL Fertilisers Ltd (CFL) has posted a sales turnover of Rs 240.67 crore, other income of Rs 6.07 crore and a net profit of Rs 28.4 crore during the quarter ended September 30, 2001.

Cadila Healthcare Q2 net higher at Rs 21.86 cr
Cadila Healthcare Ltd has posted a 15 per cent increase in net profit at Rs 21.86 crore for the second quarter ended September 30, 2001 compared to Rs 19.05 crore during the same period last year.

Tata Tea PAT up 45%
TATA Tea Ltd has reported a three per cent decline in its profit from core operations at Rs 33.44 crore for the second quarter ended September 30, 2001 as compared to Rs 34.46 crore in the year-ago period.

Glenmark Pharma net rises 46 per cent
Glenmark Pharmaceuticals Ltd has posted a 46 per cent increase in net profit at Rs 8.24 crore in the quarter ended September 30, 2001 as against Rs 5.64 crore in the same period last year.

M&M posts Rs 2.67-cr net loss
MAHINDRA & Mahindra Ltd (M&M) today reported a net loss of Rs 2.67 crore for the second quarter ended September 30, 2001, against a net profit of Rs 13.17 crore of the previous corresponding period.

Sterlite Optical Q2 net down 78 pc
STERLITE Optical Techologies Ltd has registered a 78 per cent decline in net profit at Rs 12.31 crore for the second quarter ended September 30, 2001, compared to Rs 57.15 crore in the corresponding period previously.

Madhucon Projects net at Rs 1.79 crore
HYDERABAD: Madhucon Projects Ltd has posted a turnover of Rs 41.40 crore and a net profit of Rs 1.79 crore during the quarter ended September 30, 2001. The companys turnover increased by 80 per cent and net rose by 41 per cent when compared to the turnov er of Rs 22.92 crore and a profit of Rs 1.27 crore registered in the same period last fiscal.

Essar Shipping net drops 37%
ESSAR Shipping Ltd has reported a 37 per cent decline in net profit at Rs 12.65 crore for the quarter ended September 30, 2001 as compared to Rs 20.04 crore in the year-ago period. Income was up at Rs 107.06 crore (Rs 91.75 crore).

Hindalco Q2 net at Rs 167.1 cr
HINDALCO Industries Ltd has reported a flat growth in net profit at Rs 167.1 crore for the second quarter of 2001-2002 as compared to Rs 167.8 crore in the year-ago period.

Indian Rayon Q2 net rises to Rs 15.12 cr
INDIAN Rayon and Industries Ltd has reported a 33 per cent increase in its net profit at Rs 15.12 crore for the second quarter of 2001-2002 against Rs 11.38 crore in the year-ago period.

Central Pulp net up at Rs 4.23 cr
NEW DELHI: Central Pulp Mills Ltd (CPM) has reported a net profit of Rs 4.23 crore on a net sales of Rs 143.71 crore for the quarter ended September 30, 2001. The company had recorded a net profit of Rs 2.14 crore on a net sales of Rs 36.27 crore for th e quarter ended September 30, 2000.

Precot Mills posts loss on slippage
COIMBATORE: Precot Mills Ltds income from operations for the quarter ended September 30, 2001 has fallen by 17 per cent at Rs 43.64 crore.

Kothari Sugars posts higher net loss
CHENNAI: Kothari Sugars and Chemicals Ltd (KSCL) has reported a net loss of Rs 20.92 crore on an income from operations of Rs 31.14 crore for the quarter ended September 30, 2001, according to the company.

Berger Paints net fades 10 per cent
KOLKATA: Despite a slight increase in sales, the net profit of Berger Paints India Ltd has dropped by around 10 per cent for the half-year ended September 30, 2001.

Voltas Q2 net dips
MUMBAI: Voltas Ltd has reported a dip in net profit at Rs 3.56 crore for the second quarter ended September 30, 2001 compared to Rs 4.40 crore during the corresponding period last year.

Wockhardt net up 35%
MUMBAI: Wockhardt Ltd has registered a 35 per cent increase in profit-after-tax at Rs 29.6 crore in the quarter ended September 30, 2001 as against Rs 21.9 crore in the same period last year.

Thiru Arooran Sugars Q2 net loss at Rs 8.50 cr
Thiru Arooran Sugars Ltd has reported a net loss of Rs 8.50 crore on net sales of Rs 39.44 crore for the quarter ended September 30, 2001, according to the company.

Himatsingka Siede net at Rs 10.55-cr
Himatsingka Siede Ltd, manufacturer of silk and silk-blended fabrics has reported a mariginal increase in net profit and sales for the quarter ended September 30, 2001 over the same period previous year.

Telecommunications


`MTNL denied level playing field'
MAHANAGAR Telephone Nigam Ltd (MTNL) has recently been in the news for its conversion of GDRs to ADRs for listing on the New York Stock Exchange. While the timing may seem a bit surprising with the US economy in recession, the company seems bullish on th e prospects.


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