ITC Hotels Ltd has posted a net loss of Rs 36.50 million for the quarter ended December 31, 2001 as compared to a net profit of Rs 34.30 million in the corresponding period last fiscal. Total Income has fallen from Rs 364.40 million in the quarter ended December 31, 2000 to Rs 274.20 million in the quarter ended December 31, 2001.
Provision for taxation of Rs 19.20 million for the quarter ended December 31, 2001 includes the impact of deferred tax.
Supreme Industries Q2 results on Jan 29, 2002
A meeting of the board of directors of Supreme Industries Ltd will be held on January 29, 2002 to transat the business as per the Agenda thereof which includes the following:
"Consideration of unaudited financial results for the 2nd Quarter/Half Year ended December 31, 2001."
Morepen Lab Q3 net up by 11.67%
Morepen Laboratories Ltd has reported a net profit of Rs 246.80 million for the quarter ended December 31, 2001 as compared to Rs 221 million for the quarter ended December 31, 2000. Net Sales/Income from Operations for the quarter ended December 31, 2001 is at Rs 1223.30 million as against Rs 1108.60 million in the quarter ended December 31, 2000.
Other Income is at Rs 102.50 million in DQ-01 as against Rs 3.70 million in DQ-00
Other Income for the current quarter includes Rs 100 million being insurance claim which is of non-recurring nature.
HCL Infosystems Q2 net down by 16.52%
HCL Infosystems Ltd has posted a net profit of Rs 146 million for the quarter ended December 31, 2001 as against Rs 174.90 million for the quarter ended December 31, 2000. Net Sales/Income from Operations is lower at Rs 2718.50 million in DQ-01 as compared to Rs 2826.40 million in DQ-00.
Other Income has increased from Rs 2.20 million in the quarter ended December 31, 2000 to Rs 27.70 million in the current quarter.
The company has reported that during the current period the second manufacturing unit at Pondicherry has commenced production.
The board of directors of the company has, subject to the consent of the members at the EGM, also approved the increase in authorised share capital of the company from Rs 500 million to Rs 850 million. For this purpose, an EGM of the shareholders of the company is convened to be held on February 26, 2002.
SSI Q2 results on Jan 28, 2002
A meeting of the board of directors of SSI Ltd is scheduled to be held on January 28, 2002 to consider and to take on record the unaudited quarterly financial results of the company for the Second Quarter ended December 31, 2001.
Trigyn Tech Q3 results on Jan 29, 2002
A meeting of the board of directors of Trigyn Technologies Ltd has been convened on January 29, 2002 to consider and take on record the unaudited financial results for the quarter ended December 31, 2001.
Adani Q3 results on Jan 30, 2002
A meeting of the board of directors of Adani Exports Ltd has been convened on January 30, 2002 to consider and take on record the unaudited financial results for the quarter ended December 31, 2001.
BASF India announces change in directors
In a communication issued to the BSE, BASF India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on Friday has appointed Mr. S.Kuamarasamy, Chief Executive, Crop Protection as an Alternate Director to Dr. W.Praetorius with effect from January 18, 2002.
This is however subject to the approval of the members at the ensuing 58th Annual General Meeting.
MTNL Q3 results on Jan 30, 2002
A meeting of the board of directors of Mahanagar Telephone Nigam Ltd will be held on January 30, 2002 to consider and approve the unaudited financial results (provisional) for the quarter ended December 31, 2001.
GTL wins award for excellence in corporate governance
GTL Ltd has informed BSE that the Institute of Directors has declared GTL as the winner of the Golden Peacock Award for Excellence in Corporate Governance for the year 2001 in the private sector category.
The award was presented on Friday at Mumbai in the 2nd International Conference on Corporate Governance by His Excellency Dr P C Alexander Governor of Maharashtra.
The Golden Peacock was instituted by the Institute of Directors in the year 1991 under the National Quality Award Scheme to give fillip to the quality initiatives.
Wipro director Hamir Vissanji resigns
Wipro Ltd has informed BSE that Hamir K Vissanji, the director, has resigned from the board with effect from January 15, 2002.
Hindustan Zinc Q3 result date rescheduled to Jan 20, 2002
Hindustan Zinc Ltd has informed BSE that the board meeting to consider the quarterly results of the Company for the quarter ended December 31, 2001 has been pre-poned to January 20, 2002.
The aforesaid meeting was earlier scheduled to be held on January 21, 2002
Apollo Tyres Q3 results on Jan 28, 2002
A meeting of the board of directors of Apollo Tyres Ltd will be held on January 28, 2002 to consider the unaudited financial results of the company for the third quarter ended December 31, 2001.
ITW Signode appoints additional directors
ITW Signode India Ltd has informed BSE that Mr Gerard Young who is the Head of Operations Industrial Packaging Systems, ITW Inc USA was appointed additional director and Pratip Sena, the chief financial officer of the company, was appointed additional director and wholetime director on the board at the meeting of its board of directors held on January 16,2002.
BASF India Q3 net up by 35.17%
BASF India Ltd has posted a net profit of Rs 80.70 million for the quarter ended December 31, 2001 as against Rs 59.70 million for the quarter ended December 31, 2000. Net Sales is at Rs 1291.80 million for the quarter ended December 31, 2001 as compared to Rs 933.20 million for the quarter ended December 31, 2000.
Other Income is at Rs 8.70 million in DQ-01 as compared to Rs 28 million in DQ-00. Other Income for the quarter ended December 31, 2000 is higher as it includes profit on sale of assets of Rs 19.40 million.
Current financial results include the operations of erstwhile Cyanamid Agro Ltd which has amalgamated with the company with effect from April 1st 2001 and hence are not strictly comparable with the figures for the corresponding period of the previous year.
BPCL Q3 results on Jan 30, 2002
A meeting of the Board of Bharat Petroleum Corporation Ltd (BPCL) will be held on January 30, 2002 to consider and take on record the Unaudited Financial Results (Provisional) for the quarter ended December 31, 2001.
P K Bishnoi appointed on the Board of Balmer Lawrie Van Leer
In a communication issued to BSE, Balmer Lawrie Van Leer Ltd has informed that Mr P.K. Bishnoi has been appointed in place of Mr S N Mathur as Director on the Board of Balmer Lawrie Van Leer Ltd w.e.f. January 07, 2002.
Siemens Q1 net up by 28.96%
Siemens Ltd has posted a net profit of Rs 204.68 million for the quarter ended December 31, 2001 as against Rs 158.71 million for the quarter ended December 31, 2000. Net Sales & Services is higher at Rs 2603.04 million in the quarter ended December 31, 2001 as compared to Rs 2225.49 million in the quarter ended December 31, 2000.
Lease & Other Income is at Rs 226.81 million in DQ-01 as compared to Rs 231.64 million in DQ-00
Lease & Other Income include Rs 69 million on account of sale of investment.
In terms of the resolution passed by the shareholders at the extraordinary general meeting held on June 15, 2001 authorising the Company to buy back its equity shares upto an aggregate consideration not exceeding Rs 805,252,859, the Company has bought back 2,355,794 Equity Shares of Rs 10 each, at an average price of Rs 197.49 per share aggregating Rs 465,234,569 up to December 31, 2001.
DSP Merrill Lynch Board approves buy-back of equity shares at a max price of Rs 250 per share
At the meeting of the Board of Directors of DSP Merrill Lynch Ltd held today (January 18, 2002) the Board has approved the following, subject to the requisite shareholders and statutory approvals:
Amending the Articles of Association of the Company to permit buy-back of securities
Approving buy-back of the company's equity shares (not exceeding 2.51% of the company's equity shares) through the tender offer method or such method as may be deemed fit by the Board, The Board has also recommended seeking shareholders approval for the buy-back at a price not exceeding Rs 250 per share
Approving delisting of the Company's shares from The Stock Exchange Mumbai
ITC Q3 net up by 16.98%
ITC Ltd has posted a net profit of Rs 2592.30 million for the quarter ended December 31, 2001 as compared to Rs 2216 million for the same period previous year. Net Sales Turnover has increased from Rs 11079.70 million in DQ-00 to Rs 11952.70 million in the current quarter ended December 31, 2001.
Other Income is at Rs 276.70 million in DQ-01 as against Rs 280.30 million in DQ-00.
Interest expenditure has declined from Rs 250.70 million in the quarter ended December 31, 2000 to Rs 114.60 million in the current quarter.
The strike at the Tiruvottiyur factory of the packaging business which commenced from November 13, 2001 continues.
Neuland Lab restructures loans to reduce interest burden
Neuland Laboratories Ltd has informed BSE that the Company has restructured its loans to reduce the interest burden and to improve the cash flows.
The earlier loan of ICICI was bearing an interest rate of 19%p.a. and foreign currency loan of EXIM Bank was also equally unattractive in the present volatile Forex market, through the interest rate on the loan was less.
Both these loans were replaced by a fresh corporate loan of Rs 100 million at an interest rate of 13.50% p.a, resulting in saving of about Rs 3 million per annum on account of interest. This is expected to result in improvement of cash flows as also current ratios from 1.25 to 1.69 in 2000-01 to 2002-03.
STG ties with PresNet to offer easy admission to US Universities
Software Technology Group International Ltd (STG) has announced a strategic alliance with Student Recruitment Consortium of the Presidents' Network (PresNet) of USA to help Indian students seeking admission in US Universities for undergraduate and postgraduate courses.
Under this programme, a student needs to submit only one application for any of the 56 Universities that come under the Presidents'Network (PresNet). The student will have to pay one time processing fee with no additional cost for mailing postage, separate university fee, etc. The programme will initially be launched through STG centres in Delhi, Mumbai, Pune, Bangalore, Chennai, Hyderabad and Kolkata.
"STG is planning to reposition itself from just being a Computer Training Organization to a Total Education Company and this strategic alliance with PresNet is the first step towards this effort."said Dr Suresh Nanda, CEO Software Technology Group. "We aim to provide complete career guidance to out students rather than counseling them for just one area. This effort is in line with our constant endeavor to provide the best of education globally." Further added Dr Nanda
The Salient Features of the alliance are as follows:
One Application for admission in any of the 56 Universities in US.
One Time processing fees with no additional cost for mailing, university application fee, etc.
Counseling at centres on the universities present and the suitable course one should apply for.
To Provide help in tracking application form, VISA clearance.
Sierra Optima posts Rs 4.61 million as net loss in Q3
Sierra Optima Ltd has posted a net loss of Rs 4.61 million for the quarter ended December 31, 2001 as against a net profit of Rs 30.40 million for the quarter ended December 31, 2000.
Income from Operations is at Rs 44.59 million in the quarter ended December 31, 2001 as against Rs 103.60 million in the quarter ended December 31, 2000. Other Income is at Rs 0.38 million in DQ-01 as against Rs 1.95 million in DQ-00.
JBM Tools board to meet to consider allotment of shares pursuant to arrangement scheme
JBM Tools Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on January 19, 2002 to issue and allot shares of the Company in terms of the scheme of arrangement to the shareholders of the Company in lieu of existing shares in accordance with Section 391-394 of the Companies Act, 1956.
Exide Industries Q3 net up by 12.81%
Exide Industries Ltd has reported a net profit of Rs 77.50 million for the quarter ended December 31, 2001 as compared to Rs 68.70 million for the quarter ended December 31, 2000. Total Income for the quarter ended December 31, 2001 is at Rs 1963.40 million as against Rs 1734.10 million in the quarter ended December 31, 2000.
Nalco Chemicals board approves amalgamation of Aqua Chemicals & Systems
Nalco Chemicals India Ltd has informed BSE that the Board of Directors of the company has approved scheme of amalgamation of Aqua Chemicals and Systems Mfg.Ltd. with the company. EGM of the company will be held on February 14, 2002.
Amara Raja Q3 results on Jan 31, 2002
A meeting of the Board of Directors of Amara Raja Batteries Ltd is scheduled to be held on January 31, 2002 to consider and take on record the unaudited financial results for the quarter and nine months ended December 31, 2001.
C S Chang appointed as MD of Shin Ho Petrochemicals
Shin Ho Petrochemical (India) Ltd has informed BSE that Mr. C S Chang has been appointed as Managing Director of the Company
This is on account of the resignation of Mr. V.Ramesh from the Board as Directors with effect from December 31, 2001. Mr. Ramesh has also ceased to exist as Managing Director by virtue of expiry of his contract.
Genomics Biotech Board allots equity shares under SWAP Arrangement
Genomics Biotech Ltd has informed BSE that the Board of Directors of the company has allotted 0.50 million equity shares of Rs.10/- each to Lord Krishna Infotech Ltd. under SWAP Arrangement.
BIFR sanctions rehabilitation scheme for revival of Agro Chem Punjab
Agro Chem Punjab Ltd has informed BSE that the company is registered with BIFR as a Sick Industrial Company as Case No.290/98. The BIFR has sanctioned a scheme of rehabilitation of the company on December 04, 2001. As per BIFR order the main steps involved for revival of the company contained in sanctioned scheme are:
Reduction of capital by 90% by issue and allotment of one share for every ten equity shares held.
Allotment of equity shares to Promoters for cash at par aggregating to Rs.56.30 million.
BSE imposes Special Margin of 25% on Financial Technologies
BSE has informed the members of the exchange that Special Margin of 25% has been imposed on Financial Technologies (I) Ltd with effect from today (January 18, 2002).
Special margins will be imposed on the basis of clientwise gross purchase or sale position.
Wipro Q3 net up by 17.68%
Wipro Ltd has posted a net profit of Rs 2223 million for the quarter ended December 31, 2001 as against Rs 1889 million for the same period last year. Net Income from Sales/Services is higher at Rs 8716 million in the quarter ended December 31, 2001 as against Rs 7801 million in the quarter ended December 31, 2000.
Other Income is at Rs 183 million in DQ-01 as against Rs 139 million in DQ-00.
Commenting on the results, Mr. Azim Premji, Chairman of Wipro said, "We achieved a significant milestone this quarter in our journey towards our Vision 2004 by consolidating our Quality leadership position in the global software services market. We were the first company in the world to be certified Level 5 of the People Capability Maturity Model (PCMM) and the first Software Service provider to be certified under TL 9000, reflecting the commitment of Wiproites to Quality.
"Our results for the quarter were in line with our expectations in an environment of enhanced economic turbulence. We believe we have grown ahead of the industry growth rate for the nine-month period ended December 2001. For the quarter ending March 2002, we expect revenue from our Global IT business to be around US $120 million".
Mr. Vivek Paul, Vice Chairman and CEO of Wipro Technologies added "We have seen all round sequential growth across verticals, except in Telecom and Internetworking. The sequential growth in Financial Services of 19% and Enterprise Application Services of 41% contributed to an 8% sequential growth in Enterprise Business. In the R&D Services segment, Embedded Systems grew by 6% sequentially and Telecom and Internet Service Providers grew by 54% sequentially. Despite an environment of severe price pressure, we were able to grow our realization by continuing to grow the mix of high value-add services."
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