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April 29, 2000
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| VSNL net profit slides 40%, turnover up 4%
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Videsh Sanchar Nigam Ltd today (April 29, 2000) announced its unaudited financial results for the quarter and the year ended March 31, 2000. The total revenue for the year 1999-2000 stood at Rs 72720 million. On account of the unforeseen development of writing down investment in ICO to the future to the tune of Rs 5130 million the net profit which other wise would have been Rs 13120 million is taken at Rs 7990 million.
The company registered a net profit of Rs. 3119 million for the quarter ended March 31, 2000 as against Rs. 3369 million in MQ 99. The sales are up by 7.68 % at Rs 20058 million. Other income is Rs. 157 million (MQ 99 Rs (135) million). The profits for the year ended March 31, 2000 are Rs. 7992 million, as compared to Rs 13250 million in the previous financial year. On the equity capital of Rs. 84.13 million the company has reported an earnings of Rs. 111.98 per share.
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| Pantaloon Retail net profit up by 103%, sales increase 41%, opens 23500 sq.ft. store in Chennai
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| Pantaloon Retail (India) Ltd has reported a net profit of Rs. 9.78 million for the quarter ended March 31, 2000 as against Rs. 4.82 million in MQ 99. The sales are up by 41.20 % at Rs 346.79 million. Other income is Rs. 0.44 million (MQ 99 Rs 0.62 million). During the quarter ended March 31, 2000 the company has allotted One million shares on private placement basis at a premium of Rs 33/- per share. As a result of this the equity share capital of the company has increased by Rs 10 million to Rs 125.19 million. The company has added 23500 Sq. Ft. of retailing space by opening a store at Chennai on April 24, 2000.
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| Jain Studios reports 1.52 million profit for MQ 2000, Turnover at Rs 84.78 million
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| Jain Studios Ltd has reported a net profit of Rs. 1.52 million for the quarter ended March 31, 2000 as against Rs. 95,000 in MQ 99. The sales are up at Rs 84.78 million as compared to Rs 2.67 million in MQ 99. Other income is Rs 11.44 million (MQ 99 Nil). The profits for the year ended March 31, 2000 are Rs. 23.5 million, as compared to Rs 0.29 million in the previous financial year. The annual sales are Rs. 118.91 million as against Rs 9.38 million in the financial year ending March 1999. On the equity capital of Rs. 84.91 million the company has reported a basic and diluted earnings of Rs. 2.76 per share.
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| HOCL loss for MQ 2000 at Rs 296.60 million
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Hindustan Organic Chemicals Ltd has reported an net loss of Rs 296.60 million for the quarter ended March 31, 2000 as compared to a loss of Rs 14.20 million in March 31, 1999. The sales in value terms are however have increased 27.12% from Rs 924.40 million in MQ 99 to Rs 1175.10 million in MQ 2000.
The unprecedented increase in prices of Petroleum feed stocks and fuel arising out of Steep increase in crude oil prices by about more than double during the second half of the year and only marginal increase in finished products price in the global market resulted in squeeze in margin.
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| Usha Beltron Net profit up by 26.46%, sales improve by 10%
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| Usha Beltron Ltd has reported a net profit of Rs. 86.50 million for the quarter ended March 31, 2000 as against Rs. 68.40 million in MQ 99. The sales are up by 10.14 % at Rs 2522 million. Other income is Rs. 5.60 million (MQ 99 Rs 20.80 million). The interest for the quarter increased 83.59% to Rs 167.80 million as against Rs 83.59 million in MQ 99.
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| Sun Pharma Net profit up by 53%, turnover rises 35%
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Sun Pharmaceutical Industries Ltd has declared a net profit of Rs. 904.30 million for the year ended March 31, 2000 as against Rs. 590.40 million in FY 99, a growth of 53.17%. The sales are up by 34.58 % at Rs 4785.50 million. Other income is Rs. 36.30 million (FY 99 Rs 26.90 million).
On the equity capital of Rs. 154.20 million the company has reported an earnings of Rs. 60.81 per share (Annualised and excluding Bonus shares).
The Company had charged the entire R&D expenses to the profits for the current year. Had it followed the earlier practice of deferment of R&D expenses, the net profit for the year would have been higher by Rs. 150 Lacs. Also the company charged a one-time write-off of Rs. 407 Lacs to the profits for the current year.
The profits for the quarter ended March 31, 2000 are Rs. 239.50 million, as compared to Rs 193.10 million in the previous financial year, an increase of24.03%. The sales for the quarter are 14.68 % up at Rs. 1282.70 million as against Rs 1118.50 million in the MQ 99.
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| Crest Communication MQ 2000 net rises 110%, turnover up by 61%
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Crest Communication Ltd recorded a net profit growth of 109.54% at Rs. 5.03 million for the quarter ended March 31, 2000 as against Rs. 2.40 million in MQ 99. The sales are up by 60.51% at Rs 30.06 million.(MQ 99 Rs. 18.73 million) Other income is Rs. 2.08 million (MQ 99 Rs. 6.09 million). The profits for the year ended 455.50% higher for March 31, 2000 at Rs. 24.33 million, as compared to Rs. 4.38 million in the previous financial year. The annual sales are marginally higher by 11.47% up at Rs. 158.42 million as against Rs. 142.13 million in the financial year ending March 1999. On the paid up equity share capital of Rs. 944.06 million, the company has reported a basic EPS of Rs. 0.53 and a diluted earning of Rs. 0.51 per share.
The Board of Directors of the company has resolved to pay an interim dividend of Re 1/- per share for the financial year 1999-2000. The company has received approval from RBI for setting up a wholly owned subsidiary (WOS) at Singapore. The company proposes to use this WOS as a vehicle to establish the company as a significant player in the television software industry at Singapore and the Far East countries.
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| Atlas Cycle net profit 66.67% higher in MQ 2000, declares interim of 15%
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| Atlas Cycle Ltd posted a net profit of Rs. 26/- million for the quarter ended March 31, 2000 as against Rs. 15.60 million in MQ 99, thus recording a growth of 66.67%. The sales have only marginally increased by 9.97 % at Rs 940.50 million as against Rs. 855.20 million in MQ 99. Other income is Rs. 10.10 million (MQ 99 Rs. 9.50 million). The profits for the year ended March 31, 2000 are Rs. 92.30 million, as compared to Rs. 69.20 million in the previous financial year, an increase of 33.38%. The annual sales are 14.58 % higher at Rs. 3751.20 million as against Rs. 3273.80 million in the financial year ending March 1999. On the paid up equity share capital of Rs. 32.50 million, the company has reported a basic earnings of Rs. 28.40 per share. The Board of Directors of the Company declared an interim dividend of 15%.
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| Avery Berkel group to sell Weighing & Food Processing equipment business to Weigh Tronix, USA
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| Under a global restructuring scheme, the Avery Berkel group will sell its Weighing & Food Processing Equipment business to Weigh Tronix, USA. GEC Avery International Ltd, U.K., one of the group companies of the Avery Berkel group, is a promoter and substantial shareholder in Avery India Limited. The specific details of the transaction are not known to Avery India yet.
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| Alpic Finance MQ 2000 net profit up 124.72%, income from operations lower by 20.06% |
| Alpic Finance Ltd has reported a net profit of Rs. 15.13 million for the quarter ended March 31, 2000 as against Rs. 6.73 million in MQ 99. The Income from Operations has declined by 20.06 % at Rs 277.77 million (MQ 99 Rs. 347.49 million) Other income is Rs.0.19 million (MQ 99 Rs. 0.48 million). The depreciation charge has fallen substantially from Rs. 72. 65 million in MQ 99 to Rs. 45.62 million in MQ 2000.
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