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Forbes Gokak Q1 net profit at Rs 52.50 million

Forbes Gokak Ltd has posted a net profit of Rs 52.50 million in the quarter ended June 30, 2000 as compared to Rs 0.90 million in the quarter ended June 30, 99. Net sales for the quarter ended June 30, 2000 are up by 16.64% at Rs 908.60 million as compared to Rs 779/- million in the same period last year. Other income has increased from Rs 2.10 million in the quarter ended June 30, 99 to Rs 37.30 million in the quarter ended June 30, 2000. The sharp increase in the dividend income in the quarter ended June 30, 2000 is due to the fact that most companies and mutual funds in which the company has made investments have declared their dividends in this quarter instead of the traditional second quarter.

Infosys announces strategic alliance with Evolving Systems

Infosys Technologies Ltd., a leading IT consulting firm and Evolving Systems a software, consulting and integration company that enables the next generation of telecom and Internet services, today (August 3, 2000) announced a strategic relationship. To assist Evolving Systems in expanding its commanding lead in local number portability (LNP), Infosys has formed a project team within its Offshore Development Center. The Company is currently deploying a staff of 35 which is focused on features, enhancements and maintenance of core telecom technologies in close cooperation with Evolving Systems internal staff. Evolving Systems Q2 2000 LNP-related revenue increased 800% over Q2 1999, so the two teams are working around the global clock to respond to continuous customer and marketplace demands for the companys LNP solutions. With its business growing rapidly, Evolving Systems needed to leverage its internal expertise in order to add more features are functionality to its products and meet time-to-market needs. To satisfy customer demand faster than we could do alone we needed a company whose own talent pool had the expertise to meet our staffing requirements, stated D J Molny, Vice President and Chief Technical Officer for Evolving Systems. After an extensive due diligence process, the company selected Infosys as its partner. Evolving Systems selection criteria included an emphasis on quality, telephony experience, project methodology and ability to meet commitments. The number of features, product enhancement and new products that we have been above to develop has enabled us to better satisfy customer demands - and to do so faster, said George Hallendbeck, Chairman and Chief Executive Officer for Evolving Systems, As Infosys continues to grow in its knowledge of our product line, we expect them to make an even greater contribution. We are pleased to assist Evolving Systems in accelerating its time-to-market and in developing quality software that meets the needs of the wireless market, stated Phaneesh Murthy, Board Member and Head of Worldwide Sales and Marketing. We look forward to working with Evolving Systems on future products and projects, concluded Hari Murthy Associate VP and Head of Business Development, Communications & Product Services Practice (CASPS) for Infosys.

National Mineral Q1 net up by 63.77%

National Mineral Development Corporation Ltd. has reported a net profit of Rs 372.69 million for the quarter ended June 30, 2000 as compared to a profit of Rs 227.57 million in JQ 1999, an increase of 63.77%. Net sales for the quarter ended June 30, 2000 stood at Rs 2075.36 million, an increase of 39.04% as compared to sales of Rs 1492.65 million reported in the corresponding quarter of the previous year. Other income for Q1 2000 stood at Rs 107.63 million compared to Rs 104.99 million in Q1 1999, an increase of 2.51%.

Videocon App Q1 net up by 29.25%

Videocon Appliances Ltd. has reported a net profit of Rs 95.9 million for the quarter ended June 30, 2000 as compared to a profit of Rs 74.2 million in JQ 1999, an increase of 29.25%. Net sales for the quarter ended June 30, 2000 stood at Rs 2288.3 million, an increase of 24.68% as compared to sales of Rs 1835.40 million reported in the corresponding quarter of the previous year. Other income for Q1 2000 stood at Rs 3.2 million compared to Rs 2.2 million in Q1 1999, an increase of 45.45%.

Mukand Engineers Q1 net up by 23.84%

Mukand Engineers has reported a net profit of Rs 18.7 million for the quarter ended June 30, 2000 as compared to a profit of Rs 15.1 million in JQ 1999, an increase of 23.84%. Net sales for the quarter ended June 30, 2000 stood at Rs 197.5. million, an increase of 13.44% as compared to sales of Rs 174.10 million reported in the corresponding quarter of the previous year. Other income for Q1 2000 stood at Rs 9.2 million compared to Rs 6 million in Q1 1999, an increase of 53.33%.

Agro Tech Foods Q1 net at Rs 10 million, sales down 31.17%

Agro Tech foods Ltd. (formerly ITC Agro-Tech Ltd) has reported a net profit of Rs 10 million for the quarter ended June 30, 2000 as compared to a loss of Rs 19.03 million in JQ 1999. Net sales for the quarter ended June 30, 2000 stood at Rs 963 million, a decrease of 31.17% as compared to sales of Rs 1399 million reported in the corresponding quarter of the previous year. Other income for Q1 2000 stood at Rs 12 million compared to Rs 19 million in Q1 1999, a decrease of 36.84%. The company attributed decline in sales to lower oil prices and the curtailment of bulk commodity trading activities. In its place, the Company has commenced sourcing and distribution of bulk agri-commodities from May 2000 under a business model designed to minimize risks. The company has completed acquisition of the vanaspati brand 'Rath' from Siel Ltd. in June. This acquisition is expected to strengthen the company's position in the cooking medium market.

Duphar-Interfran Ltd. Q1 net up by 81.21%

Duphar-Interfran Ltd. has reported a net profit of Rs 34.48 million for the quarter ended June 30, 2000 as compared to Rs 19.03 million in JQ 1999, an increase of 81.21 %. Net sales for the quarter ended June 30, 2000 stood at Rs 191.01 million, an increase of 15.80% as compared to sales of Rs 164.95 million reported in the corresponding quarter of the previous year. Other income for Q1 2000 stood at Rs 17.65 million compared to Rs 14.92 million in Q1 1999. As required by Securities and Exchange Board of India, the Company has signed agreements with National Securities Depository Limited as well as Central Depository Services (India) Limited for dematerialisation of the Company's Share.

Ravalgaon Sugar Q1 net up by 36.18%

Ravalgaon Sugar Farm Ltd. has reported a Q1 2000 net profit of Rs 13.21 million as compared to Rs 9.70 million in Q1 1999, an increase of 36.18%. Net sales for the quarter ended June 30, 2000 stood at Rs 287.42 million, an increase of 29.55% as compared to sales of Rs 221.87 million reported in the corresponding quarter of the previous year. Other income for Q1 2000 stood at Rs 4.43 million compared to Rs 3.99 million in Q1 1999.

Sundram Fasteners Q1 net down by 6.36%

Sundram Fasteners Ltd. has reported a net profit of Rs 95.7 million for the quarter ended June 30, 2000 as compared to Rs 102.2 million in JQ 1999, a decrease of 6.36 %. Net sales for the quarter ended June 30, 2000 stood at Rs 1,109.6 million, an increase of 6.74% as compared to sales of Rs 1039.50 million reported in the corresponding quarter of the previous year. Other income for Q1 2000 stood at Rs 11.7 million compared to Rs 1.5 million in Q1 1999. Other income for the Quarter Ended 30th June 2000 consists of dividend income of Rs 6.6 million including dividend income of Rs 6.1 million received from Autolec Industries Ltd a subsidiary company.

Bank of Madura Q1 net up by 32.4%

Bank of Madura Limited has reported Q1 2000 net profit of Rs 136.90 million, an increase of 32.4% as compared to net profit of Rs 103.4 million in the corresponding quarter of the previous year. Interest income for Q1 2000 was up by 16.81% at Rs 1017.9 million as compared to Rs 871.4 million in the corresponding period of the previous year. Other income for Q1 2000 stood at Rs 228.3 million as compared to Rs 224.8 million in Q1 1999.

ITI Q1 loss down by 14.55%

ITI Ltd. has reported a decline in Q1 2000 net loss by 14.55% to Rs 252.5 million as compared to Rs 295.5 million in Q1 1999. Net sales of the company increased by 17.72% to Rs 3352.7 million as compared to Rs 2848.1 million in Q1 1999. Other income (inclusive of grants in aid Rs 74.3 million) for Q1 2000 decreased by 13.22% to Rs 84.7 million as compared to Rs 97.6 million (inclusive of grants in aid Rs 62.7 million) in the corresponding quarter of the previous year.

Chennai Petro Q1 net down by 94.55%, sales up 54.11%

Chennai Petroleum Corporation Ltd. has reported a decline in Q1 2000 net profit by 94.55% to Rs 19.50 million as compared to Rs 357.70 million in Q1 1999. Net sales of the company increased by 54.11% to Rs 17,363 million as compared to Rs 11266.30 million in Q1 1999. Other income for Q1 2000 declined by 84.86% to Rs 21.2 million as compared to Rs 140 million in the corresponding quarter of the previous year. The company attributed the decline in net profit to high volatility in international crude prices and reduced margin for finished products.

BSE imposes special margin on 3 scrips

BSE has informed has imposed Special Margin on the under mentioned scrip as mentioned alongside with effect from Thursday, August 3, 2000. Sr No Scrip Code Scrip Name Scrip Group Special Margin Per Share (%) 1. 26443 DATASOFT APP SOFTWARE (I) LTD B2 25% 2. 32015 GRAVITY (INDIA) LTD B2 25% 3. 32279 RSL INDUSTRIES LTD B2 25%

Sun Infoways to issue equity shares to US investors

The Board of Directors of Sun Infoways Ltd. at its meeting held on 27.07.2000 has approved the disinvestment of upto 10% stake in the company by fresh issue of equity shares to strategic US investors at Rs.325/- per share under preferential allotment subject to approval of shareholders.

Ciba Specialty clarifies on newspaper report

Ciba Specialty Chemicals (India) Ltd. (CSCI) has issued a letter to the BSE clarifying its position on a report, which appeared in a leading financial daily about Ciba India Private Ltd's plans to exit its 76:24 joint venture (Petro Araldite Private Ltd.) with Tamilnadu Petroproducts Ltd. The company has said that "CSCI is not a stakeholder in Joint Venture Company, Petro Araldite Private Limited (PAPL), and therefore no comments were provided as regards 76% held by Ciba India Private Ltd. (CIPL) in PAPL. To that extent the reporting in the financial daily on August 02, 2000 is incorrect."

Tamilnadu Petro Q1 net at Rs 170.85 million, sales up by 15.2%

Tamilnadu Petroproducts Limited has reported Q1 sales of Rs 1424.85 million an increase of 15.31% as compared to sales of Rs 1235.66 million in the corresponding quarter of the previous year. Other income for the quarter ended June 30, 2000 stood at Rs 4.27 million as compared to Rs 4.88 million in the corresponding period of the previous year. Net profit for the first quarter stood at Rs 170.85 million as compared to Rs 170.35 million in the corresponding period of the previous year.

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