GPCL's Q3 net profit at Rs 12.30 crore
Mumbai: Godrej Consumer Products Ltd (GPCL) has posted a net profit of Rs 12.30 crore for third quarter ended December 2001. The sales for the period under review stood at Rs 126.43 crore.

Net profit and sales for the nine months ended December 2001 stood at Rs 32.13 crore and Rs 379.36 crore respectively.

Other operating income for the nine months at Rs 15.74 crore includes Rs 10.66 crore on account of sale of byproducts and Rs 5.08 crore as processing charges for contract manufacturing.
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Maruti hikes prices
New Delhi: Maruti Udyog has hiked the prices of Maruti 800, Omni van and Esteem by between Rs 2,307 to Rs 8,835.

While price of Maruti 800 Standard variant has been increased by Rs 3,753 to Rs 2.21 lakh, the 'EX' version saw a Rs 8,677 hike at Rs 2.52 lakh. The Maruti 800 DLX price has also been upped by Rs 8,835 to Rs 2.73 lakh.

The Omni five-seater variant price stands increased by Rs 2,307 at Rs 2.26 lakh.

Prices of the two Esteem variants, 'LX' and 'VX' have gone up by Rs 4,161 and Rs 4,696 Rs 4.95 lakh and Rs 5.44 lakh respectively.
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Reliance signs NLD licence
New Delhi: Reliance signed a licence agreement with the department of telecom for national long distance (STD) services on 28 January.

The company is ready with 70 per cent of its network and is expected to simultaneously launch the service with its basic services in two to three months.

Reliance is one of the four players who had applied for STD licence, and had been issued letter of intent for this purpose late last year.

Besides Reliance, other applicants included Bharti, which started its STD operations from 26 January, Videsh Sanchar Nigam (VSNL) and Connecting Networks.
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Tatas hike stake in Voltas
New Delhi: The Tatas have increased their stake by over 3 per cent in group company Voltas to reach 23.27 per cent during July-December 2001.

Lok Prakashan, publisher of Gujarat Samachar newspaper, claims to have increased its stake in Voltas to beyond 14 per cent over the last few months by acquiring over 46 lakh shares of the target company.
The Ahmedabad-based Lok Prkashan had earlier expressed interest in mounting an open offer for additional 20 per cent stake in Voltas.
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Gillette to infuse funds into India
Mumbai: Gillette will inject an undisclosed amount as a capital grant into Gillette India.

This would be done to strengthen the financial position and meet long-term commitments.

Gillette has also decided to close its alkaline battery plant in northern India due to poor market conditions and as production costs are less at company plants in other countries.

Gillette India would now source all alkaline batteries for the domestic market from other Gillette plants abroad.
The alkaline battery plant, which manufactured batteries sold under the Duracell brandname, was closed after a voluntary separation scheme was offered to its 175 employees.
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UTI declares 12% dividend for Masterplus
Mumbai: Unit Trust of India has declared a 12 per cent dividend (Rs 1.20 per unit) for its Masterplus 1991.
The record date has been fixed at 8 February and the dividend would be tax free in the hands of unitholders.
The scheme had declared 12 per cent dividend in June 1999 and 15 per cent in November 2000.
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Voltas Q3 net at Rs 4 lakh
Mumbai: Voltas has posted a net profit of Rs 4 lakh for the third quarter ended December 2001, compared to Rs 3 lakh in same period of previous fiscal.

Total income in the reporting quarter stood at Rs 183.88 crore.
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Indo Gulf Q3 net up 36.25%
Mumbai: Indo Gulf Corporation has posted a 36.25 per cent rise in net profit at Rs 88.17 crore for the third quarter ended December 2001 compared to Rs 64.71 crore for the same period last fiscal.

Net sales for the period under review grew by 11.47 per cent at Rs 765.11 crore as against Rs 686.38 crore for the third quarter last fiscal.

The other income in the reporting quarter was by 82 per cent at Rs 11.86 crore (Rs 6.48 crore in Q3 of 2000-01).
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SSI Q2 net down 93%
Mumbai: SSIs October-December net profit plunged 93 per cent from a year ago, on sharply lower revenue and a jump in depreciation charges.

The Chennai-based computer education firm said its second quarter net profit shrunk to Rs 17.35 million from Rs 250.83 million a year ago. Income from operations fell 43 per cent to Rs 660.76 million from Rs 1.15 billion.

The earnings were also affected by a near two-fold rise in depreciation, to Rs 160.35 million from Rs 55.82 million a year earlier.
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Apollo Tyres Q3 net rises to Rs 5.97cr
New Delhi: Apollo Tyres reported an increased third quarter net profit of Rs 5.97 crore over Rs 1.76 crore in the same quarter last fiscal.

The company, however, said the third quarter net profit was not comparable with the year-ago quarter due to provision of Rs 1.41 crore for deferred tax liability.
Sales turnover went up by 25.4 per cent at Rs 390.02 crore during the October-December quarter over Rs 310.95 crore in the corresponding period last year.
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Samsung to roll out ACs
New Delhi: Samsung India will begin manufacturing air conditioners at its Noida plant early next month with an initial installed capacity of one lakh units per annum.
The company claims 12 per cent share of the Indian AC market with 45,000 unit sales in calendar 2001. Its AC range in India spans the one to two tonne sizes with various models.

Samsung has invested $8.5 million in setting up manufacturing twin lines for washing machines and air conditioners in India.
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Kale Consultants Q3 net up 33%
Mumbai: Kale Consultantss net profit last quarter rose 33 per cent on year and it expected to exceed its revenue growth target for the year.

It posted a net profit of Rs 7.27 million for the October-December quarter compared to Rs 5.46 million in the year-ago quarter. Total income rose 34 per cent to Rs 126.83 million from Rs 94.54 million.

About 40 airlines around the world are currently using Kale's products. Major contracts bagged this year were with South Korea's Asiana Airlines and Qatar Airways.
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Jyothi Lab eyes Shudh
Mumbai:  Jyothi Laboratories, which owns the Ujala brand of whiteners, is eyeing Tata Chems Shudh brand of detergent. Jyothi Labs had last year acquired the detergent facility of Tata Chem for a consideration of Rs 4 crore.

Tata Chemicals detergents business had a turnover of about Rs 20 crore, which accounted for less than two per cent of the companys turnover.
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BPL plans to shift CTV plant to Palakkad
Bangalore:  BPL Ltd is all set to convert its manufacturing facility in Palakkad to an export oriented unit (EOU).

The complete CTV production for the export market will be shifted out from Bangalore to the Kerala plant.

The company also plans to sell its non-productive and un-utilised land/assets across the country including those in Pune, Bangalore and Delhi.
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Spic hires TCS, Andersen for biz recast
Chennai: The Southern Petrochemical Industries Corporation Ltd (Spic) has roped in Tata Consultancy Services and Arther Andersen to advice the group on business revamp.

The consultants would look into various lines of businesses of the group and provide both financial and management consultancy.

The company closed the third quarter ended December 2001 in red with a net loss of Rs 49.56 crore. The total sales of the company has also dropped to Rs 445.11 crore from Rs 571.77 crore during the corresponding quarter in the previous year.
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Crossroads to set up malls in Nagpur, Bangalore
Mumbai: Crossroads is setting up shops in Nagpur, Bangalore and Pune. Crossroads currently has a mall in Mumbai.

The company will also set up more Crossroads shopping malls in Mumbai.

The company is currently in negotiations for tying up real estate.

The new malls will focus on entertainment, food and retailing. The company plans to expand the network of Crossroads by investing over Rs 100 crore to set up 12 stores and add up to 10 lakh square feet of floor space over the next three years.
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TVS net dips 34%
Chennai:  TVS Motor Company has reported a 34 per cent decline in net profit to Rs 10.68 crore for the third quarter ended December 2001, as against Rs 16.18 crore during the corresponding quarter last year. Net sales increased by 10 per cent to Rs 520.45 crore (Rs 475.41 crore).

The total expenditure was at Rs 488.95 crore (Rs 437.23 crore). Interest costs stood at Rs 2.84 crore (Rs 4.23 crore). Depreciation was at Rs 14.10 crore (Rs 12.70 crore). Paid-up share capital remained unchanged at Rs 23.10 crore. Earnings per share stood at Rs 4.62 (Rs 7.00).

Total sales of two-wheelers in the quarter increased by seven per cent to 2,34,055 units (2,19,089 units).
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Indian Rayon profit dips 72%
Mumbai:  Indian Rayon and Industries Ltd has registered a steep 72.3 per cent decline in net profit to Rs 3.63 crore for the third quarter ended December 2001 as against Rs 13.09 crore for the corresponding quarter last year.

The company registered a two per cent decline in turnover during the third quarter period to Rs 372.7 crore as compared to Rs 280.3 crore for the same quarter the previous year.
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Titan to start stocks clearing drive
Chennai: Titan Industries is planning to open more value for money stores across the country to clear its stocks of out of fashion watches. The company currently has one such store each in Bangalore and Chennai, where the products are being offered at discounts ranging from five to 40 per cent.

About 10 per cent of the companys production for exports is surplus. The total exports of Titan in fiscal 2001 was to the tune of Rs 45 crore.
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Sundram Fastners posts flat Q3 net
Chennai: Sundram Fastners Ltd has reported a flat net profit of Rs 7 crore (Rs 7.86 crore) for the third quarter ended December 2001. The total sales of the company stood at Rs 106.30 crore (Rs 107.98 crore) for the period.

While domestic sales were down to Rs 85.11 crore (Rs 91.04 crore), revenue from exports was up to Rs 21.19 crore (Rs 16.94 crore). Interest payments was down to Rs 2.70 crore (Rs 4.75 crore) and depreciation at Rs 3.17 crore (Rs 3.01 crore).
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SBL net up
Chennai: Sundaram Brake Linings (SBL) has reported a higher net profit of Rs 1.81 crore (Rs 1.71 crore) for the third quarter ended December 2001. The net sales of the company stood at Rs 22.06 crore (Rs 20.55 crore) of which Rs 10.91 crore (Rs 8.66 crore) were from exports and Rs 11.16 crore (Rs 11.88 crore) from domestic market. Total expenditure of the company stood at Rs 18.28 crore (Rs 17.06 crore) and interest Rs 0.88 crore (Rs 1 crore).
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Subex Q3 net down 48%
Bangalore: Subex Systems Ltd has reported net profit of Rs 1.48 crore for the third quarter ended December 2001, a 47.7 per cent decline over Rs 2.83 crore in the same period last year. The total revenues for the quarter were up 3.8 per cent to stand at Rs 15.19 crore as compared to Rs 14.63 crore in the corresponding period last year. For the nine-month period ended December 2001 the total revenues were at Rs 43.88 crore as compared to Rs 40.22 crore last year.
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CPCL Q3 net down 41%
Chennai: Chennai Petroleum Corporation Ltd (CPCL) has reported a 41 per cent decline in net profit to Rs 34.95 crore for the third quarter ended December 2001, as against Rs 59.70 crore during the corresponding quarter last year. Net sales fell 19 per cent to Rs 1,604.33 crore (Rs 1,988.18 crore).

Total expenditure stood at Rs 1,519.22 crore (Rs 1,855.42 crore). Interest charges were at Rs 31.26 crore (Rs 36.04 crore). Depreciation was at Rs 24.86 crore (Rs 22.43 crore). Paid-up share capital remained unchanged at Rs 149 crore. Earnings per share for the quarter stood at Rs 2.34 (Rs 4.00).
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JB Chemicals profit up 75%
Mumbai: JB Chemicals & Pharmaceuticals has registered a 75.02 per cent increase in net profit to Rs 10.04 crore for the third-quarter ended December 2001 as compared to Rs 5.73 crore in the corresponding quarter last year. Net sales grew by 20.63 per cent to Rs 78.36 crore from Rs 64.96 crore last year.

During the quarter under review, operating margin improved to 20.5 per cent from 15.17 per cent last year.

For the nine months ended December 2001, the company posted a 42.74 per cent increase in the net profit to Rs 27.16 crore as against Rs 19.02 crore for the corresponding period last year.
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Tata Infotech begins cost-cutting
Mumbai: Tata Infotech has drawn up a five-point cost cutting exercise which will include the withdrawal of employment offers made to entry-level staff and salary cut across the organisation.

The company has decided to put a freeze on all recruitment activities.

Over 200 people have been sacked so far.
The final lay-off figure may be in the region of 500-600.
The company's staff costs for the quarter ended December 2001, stood at Rs 29.5 crore against Rs 25.9 crore in the corresponding quarter last year. Its total expenditure for the quarter stood at Rs 102.6 crore against Rs 119.4 crore in the corresponding quarter last year.

Tata Infotech reported a 73.7 per cent decline in its net profit to Rs 2.20 crore against Rs 8.38 crore in the corresponding quarter last year. Total income declined by 22.7 per cent to Rs 104.75 crore against Rs 135.67 crore in the previous corresponding quarter.
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STC to cancel 30% shares
New Delhi: State Trading Corporation has approved a plan for its capital restructuring under which 30 per cent of its shares will be cancelled and the shareholders compensated with Rs 1,465 for each set of 30 shares cancelled.

The corporation has decided to transfer Rs 40 crore to the government as part of the disinvestment exercise.
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KMFL net up 4.2%
Mumbai: Kotak Mahindra Finance has reported a 4.2 per cent rise in net profit to Rs 10.8 crore for the quarter ended December2001, against Rs 10.4 crore in the previous quarter.

During the nine-month period, the company's net profit fell by 4.1 per cent to Rs 35.2 crore, from Rs 36.7 crore in the previous year.

The KMFL board declared an interim dividend of 20 per cent for the shareholders of the company. Two of the company's subsidiaries, Kotak Mahindra Capital Company and Kotak Securities, have become companies with limited liabilities, effective 27 November 2001.

The board also approved the merger of Kotak Mahindra Investments with KMFL's wholly owned subsidiary, Hamko Financial Services.
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Bilt declares flat growth
New Delhi: Ballarpur Industries has declared almost flat growth in the operating profit for six months ended December 2001 at Rs 153.34 crore over lower sales turnover of Rs 757 crore.

Operating profit for the corresponding period of the previous fiscal was Rs 150.34 crore over Rs 773 crore sales turnover.
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