HCL Technologies Q1 net at Rs 896.9 million

HCL Technologies Ltd. has reported a net profit of Rs 896.9 million for the quarter ended September 30, 2000 as compared to Rs 337.1 million for the same period last year. Net Sales increased to Rs 1594.8 million in SQ 2000 from Rs 849.4 million in SQ 99. Other income for SQ 2000 is at Rs 69.3 million as against Rs 15.2 million in the same period last year. On July 27, 2000 the Company has alloted 250,610 equity shares, on September 1, 2000, 32,931 equity shares & on September 29, 2000, 51,282 equity shares of Rs 4 each, to the eligible employees on exercise of stock options.

Finolex Cables Q2 net profit up by 33.52%

Finolex Cables Ltd has posted a net profit of Rs 250.90 million for the quarter ended September 30, 2000 as compared to Rs 187.90 million for the same period last year. Net sales for the quarter ended September 30, 2000 are at Rs 1904.90 million as compared to Rs 1370/- million in SQ 99. Other income for the quarter ended September 30, 2000 is at Rs 46/- million as compared to Rs 47.40 million in the same period last year. The results for the quarter ended September 30, 2000 include the effect of the operations of the Sheets Division (following amalgamation of the erstwhile wholly owned subsidiary - Finoram Sheets Ltd.) & the Goa plant, which commenced operations in December, 1999. The results of the quarter ended September 30, 2000 are therefore not strictly comparable with those of the corresponding period. Finolex Essex Industries Ltd has become wholly owned subsidiary of the Company & will continue to act as a separate entity.

Shree Cements FY 2000 net profit up by 163.40%

Shree Cements Ltd has posted a net profit of Rs 153.47 million for the financial year ended June 30, 2000 as compared to Rs 58.26 million in FY 99. Net sales for FY 2000 are at Rs 4838.74 million as compared to Rs 4421.45 million in FY 99. Other income has decreased from Rs 45.62 million in FY 99 to Rs 27.41 million in the financial year ended June 30, 2000.

Shamken Spinners Q2 net profit up by 27.41%

Shamken Spinners Ltd. has posted a net profit of Rs 23.04 million for the quarter ended September 30, 2000 as against Rs 18.09 million in same period last year. Net sales stood at Rs 271.9 million in SQ 2000 as compared to Rs 215.13 million in SQ 99. Other income rose to Rs 1.1 million for the quarter ended September 30, 2000 from Rs 0.56 million in the same period last year.

Varun Shipping Q2 net profit up by 6.96%

Varun Shipping Company Ltd has posted a net profit of Rs 52.33 million for the quarter ended September 30, 2000 as against Rs 48.92 million in the same period last year. Net Sales for SQ 2000 are at Rs 543.74 million as against Rs 482.81 million SQ 99.Other income has increased from Rs 0.69 million in SQ 99 to Rs 1.11million in the quarter ended September 30, 2000.

EID Parry to consider amalgamation of subsidiaries

A meeting of the Board of Directors of EID Parry India Ltd scheduled to be held on October 23, 2000 to consider a proposal for amalgamation of the following subsidiaries viz Pettavaittalai Sugars and Chemicals Ltd, Johnson Pedder Ltd and Dhanyalakashmi Investments Ltd with the company.

Excel Glasses to consider rights issue

A meeting of the Board of Directors of Excel Glasses Ltd has been convened on October 30, 2000 to: 1. Consider a Rights Issue 2. Take on record the unaudited financial results for the quarter ended September 30, 2000.

Polaris inducts new Director

Mr Govind Singhal Senior Vice President of Polaris Software Lab Ltd has been inducted into the Board of Directors as an Executive Director (Whole time Director) wef October 18, 2000.

Godrej Foods to terminate consignment agreement with Godrej Pilsbury

Godrej Foods Ltd has informed BSE that the company has served a notice of termination of it's consignment agency agreement with Godrej Pillsbury Ltd wef October 31, 2000. The company shall start it's own distribution network wef November 01, 2000. Mr Sudhir Awasthi the Mananging Director of the company has resigned wef October 12, 2000 and the Board has accepted his resignation effective October 12, 2000. The Board has appointed Mr Mohan Pusalkar as Executive Director wef October 20, 2000 after electing him as an Additional Director.

Cummins India inducts new Director

The Board of Directors of Cummins India Ltd at their meeting held on October 20, 2000 have co-opted Mr. Rajeev Bakshi Managing Director of Cadbury India Ltd as an Additional Director of the company. In the said meeting the Board has also appointed Mr Pradeep Bhargava as an Alternate Director to Mr J K Edwards.

Digital Equipment Q2 profit up by 78.22%

Digital Equipment (India) Ltd. has posted a net profit of Rs 134.2 million for the quarter ended September 30, 2000 as against Rs 75.3 million in the same period last year. Net Sales for SQ 2000 are at Rs 404.7 million as compared to Rs 217.4 in the quarter ended September 30, 1999. Other income for the quarter ended SQ 2000 stood at Rs 28.6 million as against Rs 41.3 million in SQ 99. Other Income of Rs 28.60 million for the current quarter largely represents - Interest earned by investing the surplus funds available with the company in short term deposits and - Rs 9.50 million from exchange gain as a result of fluctuation in exchange rate during the quarter.

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