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Seshasayee Paper Q1 net profit up by 50%

Seshasayee Paper & Boards Ltd. has posted a net profit of Rs 16.2 million for the quarter ended June 30, 2000 as against Rs 10.8 million in JQ 99. The Net Sales for the JQ 2000 are up by 18.44% at Rs 391.20 million as compared to Rs 330.30 in JQ 99. Other income has increased from Rs 33.5 million in JQ 99 to Rs 43.8 million in JQ 2000. Implementation of the Expansion / Modernisaiton project, to enhance the production capacity from 60,000 tonnes per annum to 1,15,000 tonnes per annum, has since been completed. Commercial production out of the new Paper Machine commenced from July 1, 2000.

J&K Bank Q1 net profit up by 30.07%, interest earned rises 31.91%

The Jammu and Kashmir Bank Ltd has registered a 30.07% growth in the net profits and a 31.91% growth in the interest earned for the quarter ended June 30, 2000. The bank earned a net profit of Rs 370.7 million for the quarter ended June 30, 2000 as against Rs 285 million in JQ 99. Against this the interest expended increased 46.893% from Rs 1230.2 million to Rs 1807.5 million. The interest earned increased 31.91% from Rs 2014.3 million in JQ 99 to Rs 2657 million in JQ 2000. The bank earned Rs 148.2 million as other income compared to Rs 132.4 million in JQ 99.

Emmsons International forays into ISP venture

New Delhi based Emmsons International Ltd along with Mr Anil Monga has promoted a company in the name and style of Emmsons infotech Ltd for undertaking business of Internet Service Provider. The project will be set up in financial collaboration with a U.K. based group. Total cost of the project is Rs 50 million and the company is in the process of working out further details of the project.

Paramount Communications post Rs 7.08 million net profit in Q1

Paramount Communications Ltd has recorded a net profit of Rs 7.08 million for the quarter ended June 30, 2000 as against Rs 6.97 million posted in JQ 99. The sales for the quarter were Rs 209.04 million as against Rs 248.21 million in JQ 99.

Overall recession in CTV industry brings BPL Ltd's Q1 profit down by 25.53%

BPL Ltd (BPL) has reported a 25.53% decline in the net profits for the quarter ended June 30, 2000. The electronics major has reported a net profit of Rs 189.6 million for the quarter ended June 30, 2000 on a gross turnover of Rs 3885 million for the quarter ended June 30, 2000 as against a profit of Rs 254.6 million on a gross turnover of Rs 5160.4 million in JQ 99. After a consistent growth in excess of 30% over the last few years, the overall CTV industry has registered a de-growth both in volume and value in the current financial year. This has resulted in a drop in turnover of the company. Additionally, in the corresponding quarter of the previous year, the cricket World Cup provided a major surge in demand, resulting in an exceptionally higher turnover. Despite a de-growth in the CTV market, BPL has still maintained number 1 position in the overall market share as well as highest share in every screen size segment as per ORG, during the current financial year. During the quarter ended June 30, 2000, the company has issued and allotted 4,000,000 Cumulative Redeemable Preference Shares, of Rs 100/- each, to certain Institutions/Banks on a private placement basis. Consequently the Preference Share Capital of the company has increased to Rs 900 million from Rs 500 million. Consequent to the allotment of 6041 Equity Shares of 1.00 GBP each, BPL Euro trade Limited, UK, has become a subsidiary of BPL with effect from 22nd May, 2000.

Uttam Steel incur a net loss of Rs 96.17 million in Q1, sales increase 27.37%

Uttam Steel Ltd has reported a net loss of Rs 96.17 million for the quarter ended June 30, 2000 as against a loss of Rs 29.93 million in JQ 99. The sales for the quarter were however 27.37% higher at Rs 1921.02 millions against Rs 1508.24 million in same period in the last year.

Elgitread India Q1 net profit down by 37.13%, sales decline 12.12%

Elgitread (India) Ltd has reported a 37.13% decline in the net profits for the quarter ended June 30, 2000 and a 12.12% decline in the sales. The company recorded a net profit of Rs 35.98 million in quarter ended June 30, 2000 as against Rs 57.23 million in JQ 99. The net sales for the quarter were Rs 187.97 million as against Rs 213.9 million in the same period last year. Other income for the quarter was Rs 11.25 million (Rs 10.87 million in JQ 99).

Graphite India Board to consider Rights issue

The Board of Directors of Graphite India Ltd at its meeting to be held on July 31, 2000 will consider and take on record the unaudited financial results for the quarter ended June 30, 2000. At the meeting the Board will also consider issue of Equity shares/ Convertible debentures to the shareholders of the company on Rights basis.

Southern Iron post Rs 59.1 million loss in Q1, sales up by 161%

Southern Iron and Steel Company Ltd has posted a net loss of Rs 59.1 million in the quarter ended June 30, 2000 as against a loss of Rs 87.3 million in JQ 99. The net sales for the quarter were Rs 294.7 million reflecting a growth of 161% over Rs 112.9 million posted in JQ 99. Other income for the quarter was Rs 1.8 million as against Rs 0.2 million in JQ 99. The company has incurred an expenditure of Rs 5446.9 million upto June 30, 2000 towards implementation of steel making and steel finishing phases. Erection and mechanical commissioning of the steel making phase has completed and the production of the steel making plant is under stabilisation. The company expects the production of steel finishing phase to commence during the current fiscal year.

Bausch & Lomb shareholders approves sale of Vision care business

The shareholders of Bausch & Lomb India Ltd have approved unanimously the resolution for the sale of its vision care business. The above approval was given by the shareholders at the AGM held on July 21, 2000.

Bank of India Q1 net profit at Rs 660 million, interest income rise 5%

Bank of India has reported a net profit of Rs 660 million for the quarter ended June 30, 2000 as against Rs 610 million reported in the same quarter of the previous year. The bank earned interest income of Rs 11.96 billion during the quarter as against Rs 11.39 billion earned in the same period of the last fiscal. The company earned Rs 1.49 billion as other income compared to Rs 1.27 billion in JQ 99. The interest expended during the quarter was Rs 8.54 billion as against Rs 8.22 billion in JQ 99.

Century Textiles post net profit of Rs 66.8 million in JQ 2000

Century Textiles and Industries Ltd has posted a net profit of Rs 66.8 million as against a loss of Rs 139.7 million in JQ 99. The sales for the quarter ended June 30, 2000 were Rs 5532.9 million as against Rs 5289.2 million in JQ 99. Other income for the quarter was Rs 141.2 million as compared to Rs 128.7 million in the same period in last year. However other income for the year ended March 31, 2000 includes surplus on sale of ship amounting to Rs 178.4 million. Depreciation charge declined 50.35% from Rs 356.9 million in JQ 99 to Rs 177.2 million in JQ 2000. Interest expenditure for the quarter fell 11.21% from Rs 505.9 million in JQ 99 to Rs 449.2 million in JQ 2000. Interest (Net) for FY 1999-2000 included a credit of Rs 175.9 million being interest on income tax refund.

Vanavil Dyes net profit up by 87.93%, sales up by 37.29%

Vanavil Dyes and Chemicals Ltd registered 87.93% growth in the net profit and a 37.29% growth in the sales for the quarter ended June 30, 2000. The company earned other income of Rs 11.53 million as against Rs 115.39 million in JQ 99. The company provided Rs 2.3 million for tax and Rs 5.8 million for depreciation.

Selan Exploration buys back further 71,600 shares from open market

In a statement issued to the Stock Exchange, Mumbai, Selan Exploration Technology Ltd has informed to have bought back further 71,600 equity shares for a total consideration of Rs 786,884 on July 21, 2000. The company has bought back the shares from the open market. The company has cumulatively bought back 615,150 equity shares for a total consideration of Rs 6,760,180. The company has bought back the above equity shares from the open market through The Stock Exchange, Mumbai.

Reliance Industries issues equity linked warrants under ESOP

The Board of Directors of Reliance Industries Ltd has issued 52687851 equity linked warrants under the Employees Stock Option Plan.

BSE imposes AVM on 35 scrips

BSE has imposed Additional Volatility Margin (AVM) on the following Scrips for settlement No. 18/2000-2001 commencing on 24 July 2000.AVM would be computed on the net outstanding Purchase or Sales positions as may be applicable including carryforward positions at the end of day at the rates given below.The rates of AVM would be remain unchanged for the entire settlement. Sr No. Code Company Group AVM Purchase/Sales % 1 17455 Anco Communications Ltd. B2 15 2 17096 Aplab Ltd. B2 10 3 24804 Aurobindo Pharma Ltd. B1 10 4 32161 Baffin Engineering Projects Ltd. B2 10 5 35 Balaji Distilleries Ltd. B1 15 6 26443 Datasoft Application Software (I) Ltd. B2 15 7 32326 Fortune Informatics Ltd. B2 15 8 31225 Frontier Information Technologies Ltd. B2 10 9 4067 Fujitsu Icim Ltd. B1 10 10 6109 Genesys International Corporation Ltd. B2 10 11 32163 Gramophone Company of India Ltd. B1 15 12 23758 Information Technologies (India) Ltd B1 15 13 32268 Kale Consultants Ltd. B1 10 14 31892 Khandwala Securities Ltd. B2 10 15 32275 Landmarc Leisure Corporation Ltd. B2 10 16 17562 Leading Edge Systems Ltd. B1 15 17 259 Lyka Labs Ltd. B1 10 18 31632 Mangalya Exports Ltd. B2 15 19 32337 Mascot Systems Ltd. B2 10 20 298 National Peroxide Ltd. B1 10 21 12047 Natraj Commercial Enterprises Ltd., B2 15 22 5355 New Standard Engg. Co. Ltd., B1 10 23 31209 Nucleus Software Exports Ltd B2 15 24 321 Padmini Polymers Ltd. B1 10 25 32055 Rashel Agrotech Limited B2 15 26 2448 Rollatainters Ltd., B1 15 27 3691 Sahara India Media Communication Ltd., B2 10 28 31980 Sentil Agrotech Limited B2 10 29 8976 Spanco Telesystems & Solutions Ltd. B2 15 30 19091 Tasty Bite Eatables Ltd., B2 10 31 19307 Vikas WSP Ltd. B1 15 32 26441 Vision Technology India Ltd. B2 10 33 17429 VJIL Consulting Ltd. B1 10 34 9966 VST Industries Ltd. B1 10 35 32298 Zenith Infotech Ltd. B1 10

Eurotex Industries Q1 net profit rises 11.31%, sales up by 23.73%

Eurotex Industries Ltd has reported a net Profit growth of 11.31% and a 23.73% growth in the net sales for the quarter ended June 30, 2000. The company earned a net profit of Rs 20.42 million on a turnover of Rs 571.74 million in the quarter ended June 30, 2000 as against a net profit of Rs 18.34 million in JQ 99 on a turnover of Rs 462.11 million. The interest expenditure for the quarter increased 25.15% from Rs 31.93 million in JQ 99 to Rs 39.96 million in JQ 2000. Depreciation charge was also higher at Rs 17.9 million as against Rs 15.75 million in JQ 99.

VIP Industries Q1 net profit decline 26.34%, sales at Rs 842.7 million

VIP Industries Ltd has reported a net profit of Rs 17.9 million for the quarter ended June 30, 2000 as against Rs 24.3 million recorded in the same period of the last year. The sales for the quarter were more or less unchanged at Rs 842.7 million as against Rs 846 million in JQ 99. Other income for the quarter at Rs 16.9 million was 59.43% higher compared to Rs 10.6 million in JQ 99. The company incurred a higher interest expenditure of Rs 32.2 million in JQ 2000 as against Rs 17.4 million in the first quarter of last year. The company provided Rs 9 million towards tax for the quarter ended June 30, 2000.

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