Hindalco’s Q3 net down 39 per cent on weak aluminium prices
Mumbai: The performance of Aditya Birla Group flagship company Hindalco Industries Ltd, which posted a 38.9 per cent drop in net profit to Rs 101.1 crore for the third quarter ended December 31, 2002 as against Rs 165.5 crore in the corresponding period last year.
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Ashok Leyland net rises 72 per cent higher in Q3 on lower expenses
Chennai: Aided by a change in accounting procedure relating to voluntary retirement scheme expenditure and lower financial expenses, Ashok Leyland Ltd has reported a 72.3 per cent jump in net profit to Rs 23.28 crore for the third quarter ended December 2002, as against Rs 13.51 crore during the corresponding period last year.
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Visualsoft Technologies Q3 net up 51 per cent
New Delhi: Visualsoft Technologies Ltd has reported 51.09 per cent growth in its net profit for the third quarter ended December 31, 2002 as compared to the corresponding period last year.
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TCL Q3 net rises 20 per cent to Rs 55 crore
Pune: Tata Chemicals Ltd has registered a 20 per cent increase in net profit at Rs 55.50 crore for the third quarter ended December 31, 2002 as against Rs 46.09 crore for the corresponding period previous fiscal.
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Tata Pigments plans to make Cemplus national brand
New Delhi: Tata Pigments, makers of synthetic iron oxide pigments and flooring oxides and a wholly-owned subsidiary of Tata Steel, is taking initiatives which is likely to result in catapulting its ‘Cemplus’ brand of dry cement paint from a regional brand to a national one.
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Nambiars may sell half of 56% BPL stake to Sanyo
Bangalore: Debt-laden consumer durable major BPL Ltd has finalised its corporate restructuring plan, which includes induction of its Japanese technology partner, Sanyo, as an equity holder in the company.
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Maruti sets IPO floor at Rs 230
New Delhi: Maruti Udyog plans to split its shares from a Rs 100 denomination into 10 shares of Rs 10 each before its IPO.
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Sony bags TV rights for Devdas
Mumbai: Sony Entertainment Television is preparing for life after cricket. With the hype for World Cup cricket ebbing out post March, the network plans to keep viewers glued on with a spate of big-budget Bollywood blockbusters.
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Tatas may bring Rallis under chemical arm
Mumbai: Tatas are examining the possibility of bringing the Rallis India business under the ambit of Tata Chemicals. The move is widely perceived as an attempt to create a wider platform for the group’s agricultural business.
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NIIT net up 55 per cent to Rs 5 cr
Mumbai: NIIT reported 55 per cent rise in net profit while global systems wide revenue increased 12 per cent in the quarter ending December compared with the same period last year.
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VSNL net drops 77 per cent to Rs 82 cr
Tata-owned long distance telephony major VSNL suffered a severe setback in its performance during the quarter ended December '02.
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A-I cuts aircraft order to 10
New Delhi: Air-India has downsized its aircraft requirement with the airline’s board deciding on Friday to reduce its large aircraft order to 10 from 17, with an option to buy 7 more if and when needed.
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Tanishq forays into silverware
Bangalore: Tanishq, the jewellery division of Titan Industries, has forayed into a new segment silverware. Though the company already has a presence in silver jewellery under the FQ brand, this will further enhance the lifestyle positioning of Tanishq.
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Orchid eyes B'lore-based Strides' LatAm business
Chennai: Chennai-based Orchid Chemicals & Pharmaceuticals and Bangalore-based Strides Arcolab are seen to be in talks for a deal.
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Emerson to set up design hub here
New Delhi: US-based $14bn engineering giant Emerson intends to leverage the outsourcing opportunity in India by setting up an engineering and design centre in India.
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Camlin net up on cost cuts
Mumbai: Stationery and art materials company, Camlin Ltd, which has also forayed into pharmaceuticals and fine chemicals, has reported a net profit of Rs 6.95 crore compared to Rs 2.62 crore in the corresponding period last year.
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Bombay Dyeing posts Rs 5.9-cr profit in Q3
Mumbai: Bombay Dyeing and Manufacturing Company Ltd has reported a net profit of Rs 5.94 crore for the third quarter ended December 31, 2002 as against a loss of Rs 22.94 crore in the corresponding period in the previous year.
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Debt restructuring helps Eveready earn profit
Kolkata: A successful debt restructuring programme and cost reduction exercises have helped Eveready Industries India Ltd to register a nominal net profit of Rs 81.82 lakh in the third quarter of the current fiscal as against a net loss of Rs 5.73 crore in the corresponding period of the last year.
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BPCL net up as import parity prices increase
New Delhi: An increase in import parity prices of petroleum products has led to a 224 per cent jump in the net profit of Bharat Petroleum Corporation for the third quarter ended December 31, 2002 to Rs 233 crore (Rs 71.90 crore).
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Better productivity drives Indo Gulf net profit up 20 pc
New Delhi: Improvement in asset productivity and operating efficiencies helped Indo Gulf Corporation Ltd (IGCL) to post a 20 per cent increase in its net profit at Rs 105.55 crore for the third quarter of 2002-03 against Rs 88.17 crore in the year-ago.
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IBP's Q3 net slides 98 pc
New Delhi: IBP Company Ltd, a subsidiary of Indian Oil Corporation (IOC), has recorded a net profit of Rs 1.32 crore for the quarter ended December 31, 2002, down 98 per cent over the Rs 66.62 crore recorded in the corresponding period last year.
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Tata Chem, HLL unit swap set at 2.5:1
Mumbai: The boards of Tata Chemicals Ltd (TCL) and Hind Lever Chemicals Ltd (HLCL) on Friday approved the proposal to merge both companies and cleared a swap ratio of 2.5:1 (i.e., 2.5 shares of TCL for every one share of HLCL held) for the transaction.
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Hindalco to acquire Australia mine
Mumbai: In a bid to de-risk its copper business, the Aditya Birla Group has opted for backward integration and initiated the process to acquire copper mining assets in Australia for a total consideration of A$79.80 million (Rs 253.77 crore at Thursday's exchange rate of Rs 28.26 per A$).
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SITA plans to acquire one more company
Mumbai: SITA World Travel plans to acquire at least one more company during the year, its Chief Operating Officer (COO), Himmat Anand, said here yesterday.
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Coke's cost cut move leads to labour woes in bottling unit
Kolkata: Soft drink major Coke's decision to reduce transportation cost and the price of its products has led to labour problems in one of its two bottling units in West Bengal.
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Dunlop workers protest against settlement delay
Kolkata: Dunlop India Ltd workers staged a demonstration and courted arrest protesting the delay in implementing a settlement concluded in October last year.
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PepsiCo likely to pump Rs 350 cr into bottling
New Delhi: Soft drinks major PepsiCo India Holdings intends to invest Rs 350-400 crore in the domestic market in the current year.
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LG turnover rises 50 pc
New Delhi: LG Electronics India has announced that its sales turnover has jumped by 50 per cent during 2002 to Rs 3,315 crore on the back of growth in consumer electronics, home appliances and IT business.
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Elder Pharma launches new drug
Mumbai: Elder Pharmaceuticals Ltd has launched Fluimucil in oral form, containing N-acetylcysteine (NAC), through a special arrangement with Zambon, Italy, which owns the global patent for NAC.
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