HDFC Bank Q2 profit up 43.8%
Mumbai: HDFC Bank Ltd has reported a 43.8 per cent rise in net profit at Rs 69.34 crore for the second quarter ended September 30, 2001, compared to Rs 48.23 crore in the same period of previous fiscal.

Total income in Q2 was higher at Rs 489.68 as against Rs 329.62 crore in corresponding quarter of last year.

Interest earned increased to Rs 413.19 crore (Rs 292.88 crore in Q2 of last year) while the other income stood at Rs 76.49 crore (Rs 36.74 crore).
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Zee Telefilms Q2 net down 8%
Mumbai: Zee Telefilms has reported a 8 per cent loss in net profit at Rs 29.6 crore for the second quarter ended September 30, 2001, compared to Rs 32 crore in the same period of previous fiscal. Net sales in Q2 was higher at Rs 123 crore as against Rs 104 crore in corresponding quarter of last year. Whereas the earnings per share have registered a marginal drop to stand at 0.72.
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InfoTech wins Rs 1.8-cr order
Bangalore: Indian software developer InfoTech Enterprises has won an order worth Rs 1.8 crore from Hughes Tele.com., a private basic phone services provider.

InfoTech, which specialises in software for visual and geographic design, said in a statement that it will implement a network inventory software to manage the physical infrastructure of Hughes' fibre optic network.
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Hindustan Motors reports profit in Q2
New Delhi: Hindustan Motors Ltd said on Monday it had swung to a second-quarter net profit of Rs 2.68 crore from a loss in the year-ago quarter helped by a large tax credit.

The companys net sales rose 19 per cent to Rs 258 crore from Rs 216.2 crore in the previous quarter.
Hindustan Motors' Ambassador car sales fell 14.1 per cent to 6,103 vehicles in the first half year to September compared with the year-ago period.
Sales of its Lancer sedan, which it makes in collaboration with Japan's Mitsubishi Motor Corp, dropped 23.3 per cent to 3,086 vehicles and sales of its Trekker utility vehicle crashed 30.1 per cent to 671 units.
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NIIT adds 26 software customers in Q4
New Delhi: NIIT had gained 26 new software customers including two Fortune 500 clients in the July-September quarter.

"We've added 26 new customers in the fourth quarter including Office Depot and Marks and Spencer. This takes up the list of active customers to 320 during the whole year," NIIT's chief executive officer Vijay Thadani said.

NIITs fourth-quarter net profit fell to Rs 12.51 crore or Rs 3.24 per share from Rs 90.82 crore or Rs 23.6 a share a year ago. Net sales fell 23.7 per cent to Rs 0.16 crore Rs from 215 crore.
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Escorts JCB to enter second-hand equipment mart
Chennai: Escorts JCB, leading manufacturer of earth-moving and construction equipment, is planning to enter second-hand market and explore new marketing areas like agriculture.

The company is working out plans to buy back and resell old equipment and machines to new customers after necessary overhauling.

This would also help the company to sell brand-new machines to old customers in exchange of their old machines and, thereby, enhance marketshare
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Reliance, DuPont in distribution deal
Mumbai: Reliance Industries on Monday signed a memorandum of understanding with DuPont Apparel & Textile Sciences for exclusive distributorship and marketing of the latter's lycra stretch fibres in India.
RIL would use its countrywide distribution network to develop and promote lycra in Indian textile and garment industries, the company said in a release here on Monday.

It would also provide technical help and marketing support to DuPont to enable the entire fibre-to-garments value-chain to use the product, it said.
The tie-up would enable Indian textile and garment manufacturers to link up, through DuPont, with the overseas distribution and marketing networks, the release added.
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Archies plans delisting
New Delhi: Archies Greetings & Gifts Ltd has decided to de-list the company from six stock exchanges - Delhi, Pune, Madras, Calcutta, Ahmedabad and Jaipur - due to negligible trading of its equity shares in these bourses. The company scrip will continue to be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

Archies promoters hold about 66 per cent equity in the company while balance 34 per cent is being held by various financial institutions and public.
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Essar to serve food, beverages
Ahmedabad: The Essar Group has signed a slew of agreements with food and beverage companies to offer added services in its retail chain of petro-product outlets.

The Essar Group has roped in Pepsi, Domino's, McDonald's and Pizza Hut to offer a range of food and beverage options to the consumers.

Essar is also planning to introduce other services like ATM and amusement activities for the community living in the vicinity. Essar Oil's retail outlets will cover the western and northern parts of the country initially. The eastern and southern parts of the country will be covered in the second phase.
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SEBI order against Sterlite set aside
Mumbai: The Securities Appellate Tribunal (SAT) has set aside the Securities and Exchange Board of India's (SEBI) order prohibiting Sterlite Industries (India) Ltd (SIL) from accessing the capital market for two years.

SIL can now access the capital market and go ahead with its proposed shares buy-back programme. Following the ban order in April 2001, SIL was directed not to proceed with its buy-back programme as SEBI considered the share buy-back as accessing the capital market.

SEBI had prohibited SIL from accessing the capital market for alleged stock price manipulation of SIL in 1998. SEBI had also issued prohibitive orders against BPL and Videocon International. Both these companies have also approached SAT against SEBI's order.
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Ashok Leyland to produce dumpers
Chennai: Ashok Leyland is considering producing heavy-duty dumpers and trippers for use by the coal-mining sector. Most of the new, heavy-duty vehicles will be manufactured at the company's Hosur unit near Bangalore.

The company was already producing smaller-capacity trippers, which were mostly being sold in Orissa.

Ashok Leyland would shortly have trial runs for a 44-tonne heavy-duty commercial vehicle. The `trailer-type' vehicle would be used for transporting container cargo.
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M&M to import from TongYang
Chennai: Mahindra & Mahindra Ltd (M&M) will soon commence import and marketing of farm equipment from TongYang, Korea.

The company has a marketing tie-up with TongYang through which it sells TongYang's tractors in the US through Mahindra USA Inc, an M&M subsidiary.

The TongYang implements to be imported into India include transplanters and harvesters. Small numbers of these have been imported for captive use by M&M's subsidiary Mahindra Shubh Labh Services Ltd (MSSL).
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Henkel-SPIC Q3 net zooms
Chennai: Henkel-Spic India Ltd has reported a net profit of Rs 1.96 crore for the quarter ended September 30, 2001, as against Rs 72 lakh in the same quarter last year - an increase of 172 per cent.

Henkel-SPIC's financial year is the same as the calender year. In the first three quarters of the current year, the company made a net profit of Rs 4.35 crore, as against Rs 2.72 crore in the corresponding period of last year.

Sales of 'Margo' soap had grown by 20 per cent while those of company's detergent powder brands, Henko and Mr White, grew by 30 per cent.
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Kesoram Ind net at Rs 2.05 cr
Kolkata: The B.K. Birla outfit, Kesoram Industries Ltd (KIL), has posted a profit-after-tax (PAT) of Rs 2.05 crore on a turnover of Rs 331.98 crore during the second quarter ended September 30, 2001.

KIL had recorded a PAT of Rs 9.08 crore in the second quarter of 1999-2000 on a net sales of Rs 327.86 crore.

Pursuing the buyback operations, the management has mopped up 2,48,290 shares through open market operations till October 20. The average buyback price, the company said, had been Rs 24.39 (including brokerage) per share of Rs 10 each. Shareholders have already authorised the board to buy back up to 78,42,280 shares at a maximum price of Rs 40 a share.
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Lupin net up at Rs 23.70 cr
Mumbai: Lupin Ltd has reported an increase in net profit at Rs 23.70 crore during the quarter ended September 30, 2001 as against Rs 2.03 crore in the same period last year.

Following the amalgamation of Lupin Laboratories Ltd and Lupin Chemicals Ltd, the financial results for the period under review are of the amalgamated company and hence, not comparable with those of the corresponding period.

Sales were Rs 242.16 crore. Other income was at Rs 1.89 crore. Total expenditure was at Rs 191.78 crore. Interest was at Rs 14.93 crore and depreciation at Rs 5.68 crore.
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Samkrg Pistons net at Rs 1.68 cr
Hyderabad: Samkrg Pistons and Rings Ltd has recorded a total income of Rs 13.99 crore and a net profit of Rs 1.68 crore for the quarter ended September 30, 2001 as against a total income of Rs 12.16 crore and net profit of Rs 1.28 crore for the same quarter last year.

While for the half-year ended September 30, 2001, the company's total income was Rs 26.97 crore and net profit stood at Rs 3.01 crore, for the fiscal ended March 31, 2001, Samkrg recorded a total income of Rs 45.01 crore with a net profit of Rs 4.10 crore.
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SRF posts higher net, sales in Q2
New Delhi: SRF Ltd has reported a 58.11 per cent increase in net profit for the quarter ended September 30, 2001 to Rs 5.85 crore as against a net profit of Rs 3.70 crore recorded in the same period the previous year.

Net sales of the company for the period under review increased by 5.49 per cent to Rs 170.65 crore (Rs 161.77 crore). Other income stood at Rs 1.15 crore (Rs 0.76 crore).

SRF Ltd reported a net profit of Rs 21.08 crore for the six months ended September 30, 2001 as against a net profit of Rs 21.68 crore in the same period the previous year.

Net sales stood at Rs 347.01 crore (Rs 330.58 crore). Other income stood at Rs 1.69 crore (Rs 7.63 crore).
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McDowells to launch new scotch brand
Bangalore: UB group company McDowells is set to launch a new scotch brand in India. The company plans to launch an extension of its existing brand, Black Dog, as well as launch a regular scotch.

The UB Groups spirits division is the largest spirits manufacturing and marketing company in India with a market share of 35 per cent with 26 million cases a year. Its nearest competitor Shaw Wallace has a market share of 12 per cent.
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