Nicholas Piramal acquires rights for Dobutrex
Mumbai: Drug major Nicholas Piramal India Ltd (NPIL) has acquired the India rights for cardiac stimulant brand Dobutrex, from Eli Lily & Company of the US. Dobutrex is an injectible cardiac stimulant used in situations such as heart attack. The size of the cardiac stimulant market is estimated at Rs 17 crore, he added.
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Thermax ropes in McKinsey for operational revamp
Pune: Thermax Ltd has announced that it has roped in McKinsey for an ambitious transformation process designed to make it a competitive player in the global market place. The company also announced that it has embarked on a concerted effort to tap the markets in China and Brazil, for which it has already set up wholly owned subsidiaries. According to the company, 'Project Evergreen', will be a two-year exercise by McKinsey, that will work across all levels of the company to double turnover and triple profits in the next three years. The company is simultaneously working on evolving into a global organization. Investments are on the anvil in the shop floor and business development areas, which will help Thermax take strides in the domestic and international markets.

Phase one of operation will see the company commence exports to China, after which it might consider setting up an assembly unit and eventually a manufacturing setup there. McKinsey, which is a large player in the Chinese market, would also offer them advice on the Chinese foray. Thermax has already set up offices in Hong Kong and Sao Paulo, Brazil, where it is making an exploratory foray.
Meanwhile, the company's first-quarter sales in the current fiscal have gone up to Rs 124.8 crore from the Rs 77.9 crore in the corresponding previous period. Net profit, however, was marginally down at Rs 5.6 crore (Rs 5.7 crore). The company said that the order booking increased by 76 per cent to Rs 305 crore; it now has Rs 607 crore of orders on hand against Rs 233 crore earlier. The company has, in the meanwhile, bought out the minority 40 per cent of the equity stake of Babcock & Wilcox International Investment (BWII), USA, in Thermax Babcock & Wilcox India, making it a wholly owned subsidiary of Thermax.
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BPL-Sanyo announce Rs.500 crore joint venture
Bangalore: BPL Ltd has announced the creation of an equal joint venture with Japan's $22-billion Sanyo Electric Company with investments of nearly Rs.500 crore. BPL will transfer its existing colour television business undertaking, including the brand, manufacturing, sales, service, marketing and distribution, into this 50:50 venture "with the intention to create one of India's leading and most technologically advanced consumer electronics company". The new company will be jointly managed with BPL's Chairman & Managing Director, Ajit G. Nambiar, heading it as the Chief Executive. Sanyo executives will hold crucial portfolios, which will be announced shortly.

The Rs 500-crore investment will include the value of the CTV business to be transferred to the joint venture by BPL, which is valued at Rs 370 crore. The CTV plant in Slovenia, acquired by BPL about three years ago, will not form part of the joint venture.
Sanyo, which has a technology relationship with BPL since 1982, believes that its entry into India in alliance with BPL is a major step in its strategy to enter new international markets. Sanyo's businesses cover a broad range of multimedia and information systems, home appliances, commercial equipment, electronic devices, batteries and other products.
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GSM cell phone companies apply for 3G spectrum
New Delhi: Cellular operators including Bharti, Hutch and Idea Cellular have applied for 3G (third generation) spectrum to offer high-speed data and voice mobile services. The companies, through the Cellular Operators' Association of India, have also asked the Government to reserve radio frequency specifically for offering 3G services and not allocate it to operators for lower-end services. COAI has also said that radio frequency for 3G services should not be auctioned since it would drive the costs up.

Third generation services will enhance voice capacity with subscribers being able to access high-speed data like movies, videos and other broadband services. COAI's submission comes in the wake of demands by mobile operators using the Code Division Multiple Access Technology like Reliance and Tata Teleservices that radio frequency should be made available to them near to the 3G radio frequencies. COAI, which represents cell firms using GSM technology, has said that CDMA operators were demanding 5MHz spectrum for data only services while it may be noted that till date GSM operators had not been given separate spectrum for data only services.
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Hughes Soft Q1 net up 63 per cent
New Delhi: Hughes Software Systems has registered a 63 per cent growth in its net profit for quarter ended June, 2004 at Rs.24.7 crore. It has said it is eyeing acquisition of Indian or overseas firms in Business Process Outsourcing (BPO) and Telecom Service Provider (TSP) business segments. On a standalone basis, HSS' sales during the quarter touched Rs 108.3 crore, a 42-per cent jump over the corresponding quarter previous year. The company has also revised upwards its guidance for 2004-05.
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NIIT net profit up at Rs.7.5 crore
New Delhi: NIIT Ltd has reported a 12-fold increase in its net profit for the quarter ended June, 2004 at Rs.7.5 crore compared to Rs.0.6 crore in the same period previous year. The net revenue from the learning business also grew 10 per cent as compared to the corresponding period previous year.
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Hinduja TMT Q1 net up
Bangalore: Hinduja TMT posted a total income of Rs.45.34 crore for the first quarter ended June 30, up 30 per cent from Rs.34.94 crore a year ago. The net profit for the period grew by 10 per cent to Rs.18.98 crore against Rs.17.23 crore in the corresponding period in 2003-04. The company's total income and net profit rose 11 per cent and 22 per cent, respectively, quarter-on-quarter on a sequential basis.

Revenues from the company's core business of IT rose 35 per cent to Rs.42.83 crore from Rs.31.74 crore in the corresponding quarter last year with the net profit up by 19 per cent in the same period. The company, which had paid an interim dividend of 50 per cent (Rs 5 per share on face value of Rs 10) in March 2004, has proposed a final dividend of 25 per cent (Rs 2.50 per share on face value of Rs 10). The total dividend for the year would aggregate to Rs 7.5 per share compared to Rs 7 per share (70 per cent) for the previous year.
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Tata Infotech net at Rs.13 crore
Mumbai: Tata Infotech Ltd has posted a net profit of Rs.13.1 crore for the quarter ended June 30, 2004 as compared to Rs 12 crore recorded during the quarter ended June 30, 2003 marking, a 9.1 per cent increase in net profit. Total income has increased from Rs 138.1 crore in the first quarter of 2003 to Rs 174.9 crore in the quarter ended June 30, 2004, informed a company notification to the BSE. The company recorded a 26.6 per cent growth in total income for the quarter.
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Kale Consultants net down 37 per cent
Mumbai: Kale Consultants Ltd has recorded a 37 per cent drop in net profit at Rs.15 lakh for the quarter ended June 30, 2004 compared to Rs.25 lakh registered in the corresponding quarter of the previous year. The company has pointed out that of the four new customers signed during the quarter, three are managed process services customers with long-term annuity type contracts and the fourth is a licence sale. During the quarter, the company recorded revenues of Rs.9.9 crore (Rs.11.3 crore).

Cognosys, the travel techology subsidiary of Kale, posted revenues of Rs.2.1crore in the quarter with a net profit of Rs.36 lakh. Cognosys is in the process of being merged with Kale and thus together, the top line is Rs.12.1 crore and bottom line is Rs.52 lakh.
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Patni Computer Q2 revenues up 33 per cent
Mumbai: Patni Computer Systems has recorded a net income of Rs.61.8 crore for the quarter ended June 30, 2004 compared to Rs.39 crore posted during the previous year's corresponding quarter. The company's revenues of Rs.366.7 crore (Rs.277 crore) reflected a 33 per cent growth. GE's contribution to the company's revenues decreased to 33.4 per cent for the second quarter of 2004 against 43.3 per cent in the previous year's corresponding period. About 25 new clients were added during the quarter taking the total number of active clients to 201.
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