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Prime Securities reports net profit of Rs 11.7 million

Prime Securities Ltd has reported a net profit of Rs 11.7 million for the quarter ended June 30, 2000. The gross revenues of the company were Rs 21.7 million as against Rs 10.7 million in the corresponding quarter of the previous year. The interest expenditure for the quarter reduced substantially from Rs 13.8 million in JQ 99 to Rs 3.8 million in JQ 2000.

Bombay Drugs to merge with Strides Arcolab

The Board of Directors of Bombay Drugs & Pharmas Ltd is scheduled to meet on July 11th 2000 to consider the scheme of amalgamation of the company with M/s Strides Arcolab Ltd.

India Cements net profit decline 46%, sales up by 4.36%

India Cements Ltd has reported a decline of 46% in the net profits for the year ended March 31, 2000. The company recorded sale of Rs 14.06 billion for the year ended March 31, 2000, representing a growth of 4.36% over Rs 13.48 billion recorded in the previous year. The net profits for the year stood at Rs 453.1 million as compared to Rs 838.9 million in FY 99. Other income for the year was 70% lower at Rs 132.1 million as against Rs 441.8 million in FY 99. Interest expenditure for the year 12.23% from Rs 1.52 billion in FY 99 to Rs 1.7 billion in FY 2000.

J L Morison Q1 net up by 75%

J L Morison India Ltd. has posted a net profit of Rs 2.80 million for the quarter ended 30, June 2000 as compared to Rs 1.60 million in JQ 99. The net sales for the quarter ended 30,June 2000 are up by 51.02% at Rs 103.60 million.

NIIT partners with Toshiba to offer eBiz solutions to Japanese automobile company

NIIT the global eBusiness Solutions Company and Toshiba's Information and Industrial Systems & Services division (S&S Company) have signed an agreement to offer eBusiness solutions for a leading Japanese auto marker. The agreement to this effect has been signed between the two companies in Tokyo recently. The Internet -based Sales and logistics System to be developed by NIIT for one of the large Japanese carmaker will provide the entire gamut of sales management support system. The system will allow the distributors to log on from anywhere in the world, place orders negotiate price check status and accept the order. On the logistics front the system will manage all activities starting with the placing of order by the distributor to tracking the movement from production to final delivery of the vehicle at the showroom anywhere in the globe. The system encompasses planning and monitoring for production shipping ship loading as well as the estimated arrival of the cars at destination. The NIIT solution will globally connect the carmaker with all its distributors and subsidiaries, in 12 countries including Japan USA and EU.The network will be supported through powerful data servers located in Japan Europe and USA. NIIT has been involved in this project right from the prototyping stage. The system deploys technologies with Java, J2EE, EJB, JSP, Netscape Internet Technologies, and Oracle8I with mainframe integration. The first phase of this project is due to be completed in December 2000. The entire project is expected to be completed by April 2002.

Timex Watches to allot 13.5 million shares to promoters

Timex Watches Ltd has proposed to allot 13.5 million shares to Timex Watches B.V. one of the promoters of the company on preferential basis. In accordance with the SEBI guidelines for preferential issues, the shares shall be allotted at a premium of Rs 6.5 per share. A meeting of the Board of Directors of the company is scheduled on July 31, 200 to consider this matter.

BILT- APR Ltd swap ratio fixed at 3 shares of BILT for 10 shares of APR Ltd

Ballarpur Industries Ltd has decided the swap ratio for the merger of APR Ltd with itself. The company has decided to issue three shares of the company to the shareholders of APR Ltd for every ten shares of APR Ltd held by them.

NIIT Ltd Board to consider quarterly results on July 14

The Board of Directors of NIIT Ltd will meet on Friday, July 14, 2000 to consider the unaudited results for quarter ended June 30, 2000. The meeting is scheduled to be held at 08:00 a.m (IST) that day.

Aptech Ltd Q2 net profit rises 43.59%, first half net profit up by 101%

The software and IT education company, Aptech Ltd has announced a growth of 43.59% in the net profit for the quarter ended June 30, 2000 over the corresponding quarter of the previous year. The total revenue increased 36.38% from Rs 1019.46 million in quarter ended June 99 to Rs 1390.3 million in quarter ended June 30, 2000. The net profits for the quarter were Rs 371.24 million in JQ 2000 as against Rs 258.55 million in JQ 99. The interest expenditure for the quarter was 210.69% higher at Rs 8.51 million compared to Rs 2.74 million in JQ 99. The revenues from the training and education division grew 29.58% from Rs 887.37 million in JQ 99 to Rs 1149.83 million in JQ99. The software solutions division the recorded a total revenue of Rs 238.93 million, representing a 82.27% growth over Rs 131.09 million in the corresponding quarter of the previous year. Other income was Rs 1.54 million (JQ 99 Rs 1.01 million). For the half-year ended June 30, 2000, company registered a 101.34% increase in the net profit and a 38.71% rise in the revenues. The company earned a net profit of Rs 391.35 million on total revenues of Rs 2117.49 million. The interest expenditure for the first half was 66% lower at Rs 11.01 million as against Rs 32.42 million half-year ended June 30, 1999. For the current half year, the revenues from software solutions division were Rs 465.17 million (previous year Rs 243.25 million) registering a growth of 91.24%. The training division recorded sales of Rs 1649.88 million as against Rs 1275.92 million in corresponding period of the previous year. The Global revenues (including those of subsidiaries) grew 44.86% from Rs 1070.92 million in JQ 99 to Rs 1551.38 million in JQ 2000. On the global front the growth rate of software solutions division was highest at 135.06%, which recorded revenue of Rs 388.66 million as against Rs 164.5 million in JQ 99. The training division's revenues were Rs 1163.18 million as against Rs 905.42 million in JQ 99. The paid up Equity Share capital of the company has gone up from Rs 125.1 million to Rs 250.19 million due to allotment of Bonus Shares in the ratio of 1:1 on 16th June, 2000. The company's previous year ended on December 31, 1999.

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