SAIL net up 336 per cent
New Delhi: Steel Authority of India (SAIL) has reported a record 336 per cent jump in net profit during the April-June quarter, while registering the highest-ever turnover of Rs.5, 633 crore.

SAIL's net profit during the first quarter ending June 30 shot up to Rs.1, 112 crore from Rs.255 crore during the same period last year. Its turnover increased by 18 per cent to Rs.5, 633 crore from Rs.4, 765 crore in the previous year. The company reduced its debt burden to Rs.7, 728 crore from Rs.8, 689 crore during the corresponding period last year.
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Tube Investments board okays merger with TIDC India
Chennai: Tube Investments of India Ltd has informed the stock exchanges that its board has approved the amalgamation of its subsidiary, TIDC India Ltd, with itself. To take effect from April 1, the merger envisages a share swap of four equity shares of Rs.10 each in Tube Investments (post-bonus) for five equity shares of Rs.10 each in TIDC.
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GAIL Tel to invest Rs.750 crore
New Delhi: GAIL (India) Ltd has announced an investment of Rs.750 crore for the expansion of its telecom optic fibre cable network, over a period of five years. The company, which will make these investments under GAIL Tel, is also exploring the possibility of foraying into the telecom services segment in the future. GAILTel sales have increased 75 per cent in the year 2003-05 to Rs.20.5 crore. It has emerged as the largest Infrastructure Provider-II operator in India. The company plans to cover 150 cities with its optic fibre cable compared to 73 cities at present. As part of its expansion plans, GAIL Tel is laying 3,000-km of optic fibre cables in South India and another 400 km across Delhi, Mumbai and another four cities. At present, the company has 8,000-km of fibre cable network.

The telecom subsidiary also plans to ride on GAIL's National Gas Grid and City Gas Network to lay cables along the pipeline. GAILTel will create an overall network stretching 20,000 km along trunk routes and another 20,000 km of city networks. This will make it the fourth largest optic fibre cable network after BSNL, MTNL and Reliance Infocomm, which have 4.5-lakh km, 1.5-lakh km and 50,000-km of optic cable network, respectively. Major service providers such as Hutch, Escotel, Tata Teleservices, Data Access, Bharti Infotel and VSNL are among GAILTel's customers.
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Datamatics net drops seven per cent
Mumbai: Datamatics Technologies Ltd posted a 6.8-per cent drop in net profit on a consolidated basis at Rs.5.75 crore for the first quarter-ended June 30, 2004 as compared to Rs.6.17 crore recorded during the corresponding period last year.
On a consolidated basis, the company's revenues grew by 94.36 per cent at Rs.32 crore (Rs.16.49 crore) for the quarter-ended June 30, 2004. Net profit on a stand-alone basis for Datamatics Technologies showed a growth of 23.21 per cent at Rs.7.26 crore as against Rs.5.89 crore for the corresponding quarter last year.
During the quarter, the company signed up eight new clients.
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Kale gets Kuoni contract
Mumbai: Kale Consultants Ltd has informed the BSE that the company has bagged a contract from Kuoni India's Outbound Division, SOTC. Kale would develop a business application software solution for the firm's Special Interest Tours (SIT) Unit, according to a company notification to the BSE.
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Satyam to partner with OATSystems
Hyderabad: Satyam Computer has announced that it has partnered with OATSystems Inc, a provider of software for supply chain, to offer radio frequency identification)-based solutions to its customers.
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Wipro ties up with eGain
Bangalore: Wipro has announced a strategic alliance with eGain Communications Corp to provide system integration services around eGain's entire product suite, eGain Service 6.
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Camlin slashes price of Repelmos
Chennai: Camlin has reduced the price of its newly launched mosquito repellent, Repelmos, by 41 per cent. The new price would be Rs.59 for a 100 ml container, as against Rs.99.95 when it was launched less than a month ago. Repelmos is the only domestic mosquito repellent brand that comes in the form of a spray. The company's press release said that the Indian market size for all mosquito repellents is about Rs.800 crore.
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Pure ghee from Mother Dairy
New Delhi: Mother Dairy has launched its pure ghee in Delhi and key north Indian markets. The ghee has been launched in one and half litre 'ceka' packs (cardboard packs which contain ghee in pouches) and in one-litre tin packs. The product has been priced at Rs.150 per litre. North India is one of the most important markets for ghee since it accounts for 45 per cent of the country's ghee market.
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