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Reliance Petroleum Q1 net profit at Rs 3240 million

Reliance Petroleum Ltd has posted a net profit of Rs 3240 million for the quarter ended June 30, 2000 on a sales turnover 59830 million for the quarter ended June 30, 2000. Other income for the quarter ended June 30, 2000 is at Rs 130 million. Interest expenditure for the quarter ended June 30, 2000 stood at Rs 1720 million. Previous years figures have not been given as the company has commenced commercial production during this quarter ie June 30, 2000.

IPCL net profit up by 11% to Rs 350 million, sales rise 36%

The Board of Directors of Indian Petrochemicals Corporation Ltd met today (July 29, 2000) at Mumbai to review the first quarter performance during fiscal 2000-2001. The performance in the first quarter of the current fiscal has been much better due to improved price scenario both in domestic and international market for the petrochemical products. The factors that enhanced the company's performance in the first quarter of the current fiscal included effective Supply Chain Management, Improved Capacity Utilisation, Maximising Sales Revenue in terms of volume and value, and overall improved productivity in all the three complexes at Vadodara, Nagothane and Gandhar. The company's sales were up by 36 per cent at Rs 10680 million (Rs 7820 million) during the first quarter. The net profit at Rs 350 million registered 11 per cent surge as against Rs 320 million achieved in the corresponding period of the previous fiscal. The hike in production to 334 thousand metric tonnes from 294 thousand metric tonnes in the first quarter of the current fiscal has helped the company in achieving the top line growth of 36 per cent in sales. The operating profit for the quarter shot up by 59 per cent to Rs 2580 million (Previous year : Rs 1630 million), while the increase in cash profit was 38 per cent at Rs 1380 million (Previous year : Rs 1000 million) The interest charges during the first quarter increased by Rs 580 million on account of capitalisation of Phase-II of Gandhar Complex, whereas the impact of depreciation on new assets created was Rs 340 million. The company has been granted US Patent for developing new Molecular Sieve Adsorbent useful for the separation of Nitrogen and Oxygen from Air by a Team of Scientists working with its Research & Development Centre.

Arvind Mills Q1 loss increases 97%, sales up by 14.17%

The Arvind Mills Ltd has incurred a net loss of Rs 949.1 million for the quarter endeed June 30, 2000 as against Rs 481.6 million in JQ 99, reflecting a 97% increase over the same period in the last year. The sales at Rs 2812.6 million were 14.17% higher compared to Rs 2463.5 million in JQ 99. The interest and finance costs increased 68.33% from Rs 494.2 million in JQ 99 to Rs 831.9 million in JQ 2000.

Bajaj Auto Q1 net profit up by 4.71%, sales up by 15.9%, Buy-back offer at Rs 400/- per share

Bajaj Auto Ltd has reported a net profit of Rs 1163.2 million for the quarter ended June 30, 2000 as against Rs 1110.9 million in JQ 99. The sales for the quarter were Rs 9275.2 million as against Rs 8003 million in JQ 99. The performance reflect a 4.71% growth in the net profits and a 15.9 % growth in the sales for the quarter ended June 30, 2000 over the same period of the last year. Other income for the quarter was Rs 904.4 million as against Rs 757.2 million in the same period of the last year. At the AGM of the company held today, the shareholders of the company approved buy-back of up to 18 million equity shares of the company at a price not exceeding Rs 450/- per share. Subsequently at a Board meeting held on the same day the Board of Directors decided to adopt the tender method for buy-back of equity shares and to offer the buy-back at a price of Rs 400/- per share involving a maximum of Rs 7.2 billion.

Sun Infoways in the process of acquisition pact with Mumbai based 'Zap Infotech'

Sun Infoways Ltd, in a note sent to the BSE has informed that the company is in the preocess of discussions and due diligence to firm up a significant acquisition pact with integrated software services entity 'Zap Infotech' based in Mumbai. Earlier the company had reported that it had sourced $ 2 million order for R&D development & Technology development in telecom & wireless technology like GPRS, G-3, Edge from E-phone Ltd based in New Zealand. E-Phone ltd is listed on the New Zealand Stock Exchange. The tenure of the order is two years. The company is also in talks & exploring the possibilities to enter into equity swap relationship with E-phone Ltd upto 10% of its capital base.

LML Ltd incur a loss of Rs 48.7 million in JQ 2000

LML Ltd has reported anet profit of Rs 48.7 million for the quarter ended June 30, 2000 as against Rs 40.5 million for the quarter ended June 30, 2000. The sales for the quarter were Rs 1105 million as copmared to Rs 1473.4 million in JQ 99. This represents a 25% decline in the sales over the corresponding quarter of the previous year. The other income for the quarter was Rs 19.9 million (JQ 99 Rs 14.7 million).

Jindal Photo Q1 net profits rise 17.24%, sales up by 12.41%

Jindal Photo Films Ltd has reported a net profit of Rs 153.7 million for the quarter ended June 30, 2000 as against Rs 131.1 million in JQ 99. The sales for the quarter were Rs 1222.5 million as against Rs 1087.5 million in JQ 99. The other income for the quarter was Rs 11 million as against Rs 3 million in JQ 99. The interest expenditure for the quarter went up from Rs 2.9 million in JQ 99 to Rs 22.2 million in JQ 2000.

GNFC post 120.6% increase in the net profits for June quarter

Gujarat Narmada Valley Fertilizers Ltd has reported a net profit of Rs 117.8 million for the quarter ended June 30, 2000 as against Rs 53.4 million in the same period of the previous year. The sales for the quarter were Rs 2745.3 million as against Rs 1664.9 million for the JQ 99. This represents a 120.6% growth in the profits and a 64.89% growth in the sales over the corresponding quarter of the last fiscal. The Other income for the quarter at Rs 126.3 million is 42.23% higher compared to Rs 88.8 million in JQ 99.

Finolex Cables Q1 net profit down by 23.6%, sales decline 29.75%

Finolex Cables Ltd has reported anet profit of Rs 92.9 million for the quarter ended June 30,. 2000 as against Rs 121.6 million reported in the same period of the last year. The sales for the quarter were Rs 669.6 million in JQ 2000 as against Rs 953.1 million in JQ 99. This represents a 23.6% decline in the net profit and a 29.75% fall in the sales over the corresponding quarter of the previous year. Other income for the quarter was Rs 106.3 million compared to Rs 62.9 million in JQ 99. The tax provided also declined from Rs 47.3 million in JQ 99 to Rs 30 million in JQ 2000.

Shaw Wallace post Rs 27.5 million net profit in JQ 2000

Shaw Wallace & company Ltd has reported a net profit of Rs 27.5 million for the quarter ended June 30, 2000 as against Rs 27.2 million in JQ 99. The sales for the quarter were 1981.9 million, up 8.69% compared to Rs 1823.5 million in JQ 99. Other income reduced 60.12% from Rs 64.2 million in JQ 99 to Rs 25.6 million in JQ 2000. Interest expenditure for the quarter was Rs 137 million, representing a 21.13% increase over the same period of the previous year.

Nedungadi Bank report 8.16% growth in Q1, interest income up by 28.28%

Nedungadi Bank Ltd has reported a net profit of Rs 50.14 million for the quarter ended June 30, 2000 reflecting a growth of 8.16% over Rs 46.36 million in JQ 99. The interest income for the quarter was Rs 488.66 million, up 28.28% compared to Rs 380.93 million recorded in the same period of the previous year. The interest expenditure was 33.73% higher at Rs 357.06 million in JQ 2000 as against Rs 266.99 million in JQ 99. Other income for the quarter is Rs 46.1 million as against Rs 45.34 million in JQ 99.

Madras Cements Q1 net profit down by 63.27%, sales fall 15.44%

Madras Cements Ltd has reported a net profit of Rs 55.2 million for the first quarter of the year 2000-2001 as against Rs 150.3 million reported for the same period of the previous year. The sales at Rs 1142.8 million are 15.44% lower compared to Rs 1351.5 million in JQ 99. The other income for the quarter was Rs 7.3 million as against Rs 2.9 million in JQ 99. The interest expenditure for the quarter was Rs 137.4 million as compared to Rs 161.6 million in JQ 99. Depreciation charge for the quarter increased 12.04% from Rs 114.6 million in JQ 99 to Rs 128.4 million in JQ 2000.

Melstar Information records Rs 18.9 million net profit in Q1

Melstar Information Technology Ltd has recorded a net profit of Rs 18.9 million for the quarter ended June 30, 2000 as against Rs 3.3 million recorded for the same period in the previous year. The sales for the quarter were Rs 117.1 million as against Rs 57 million in JQ 99, a growth of 105.44%. The staff costs correspondingly increased 179.9% from Rs 19.4 million in JQ 99 to Rs 54.3 million in JQ 2000. The other income for the quarter is Rs 1.4 million as against Rs 0.3 million in JQ 99. The staff costs have increased mainly on account of increase in overseas software activities.

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