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Hindustan Zinc Q1 net profit up 17 per cent
Mumbai: Hindustan Zinc has reported a 17 per cent rise in net profit at Rs145 crore for the quarter ended June 30, 2005 as against Rs124 crore posted in Q104. The company's total income increased to Rs547 crore for the quarter ended June 30, 2005 from Rs463 crore in Q105.
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Cummins India Q1 net up 22 per cent
Mumbai: Cummins India has posted a 22 per cent rise in net profit at Rs35.36 crore for the quarter ended June 30, 2005 as against Rs28.9 crore posted in the same quarter last year.

According to a release issued to the BSE today, total income increased to Rs344.14 crore for the quarter ended June 30, 2005 from Rs294.99 crore in Q1-05.
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Berger to commission plant in Russia by May 2006
Kolkata: Berger Paints India expects to commission its decorative paints manufacturing unit in Russia by May 2006. Promoted by Berger Cyprus, the $2-million facility at Krasnadar in South Russia, is a wholly owned subsidiary of Berger India.

The company says it has already acquired the land for the project and will focus on the markets in South Russia to begin with. Berger has been exporting its products to this market for the last 10 years and enjoys a good brand recall according to company officials.

The company has also decided to set up a plastic auto parts coatings facility in co-operation with Nippon Bee Chemicals Co Ltd of Japan at an estimated investment of Rs 8-9 crore.

Berger Paints registered a turnover of Rs837 crore and profit before tax of Rs66 crore in 2004-05.

Regarding its quarterly results Berger Industries has reported a 25 per cent growth in turnover to
Rs253.27 crore during the first quarter of this fiscal against Rs203.01 crore in the first quarter of the previous year.

Net profit increased 74 per cent from Rs8.95 crore to Rs15.56 crore.
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RIL Q1 net up 61 percent to Rs 2,310 cr
Mumbai: Reliance Industries has reported a 60.7 per cent rise in net profit at Rs 2,310 crore for the quarter ended June 30, 2005, up from Rs 1,437 crore in the corresponding quarter of the previous year.

The company's total income has risen 23 per cent to Rs17,978 crore for the yearly quarter from Rs14,627 crore in the year-ago period while there was a 19 per cent growth in operating profit at Rs3,760 crore as against Rs3,152 in the last comparable period.

Reliance's cash profit was up 28 per cent to Rs3,277 crore from Rs2,553 crore and earnings per share (EPS) for the quarter increased from Rs10.30 to Rs16.60. Share prices of Reliance Industries rose 1.06 per cent today to close at Rs698.40 against yesterday's closing of Rs691.05 on the Bombay Stock Exchange.

The company in a media statement said total income rose due to a combination of increase in selling price as well as volume. Selling prices and volume grew by 21 per cent and 5 per cent respectively, in the quarter ended June 2005 compared with the previous corresponding period.
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Essar, Punj Lloyd in final bidding for Singapore co
Mumbai: Essar Global and Punj Lloyd figure among the three final bidders for the Singapore-based SembCorp Engineers and Constructors (SembE&C). The third bidder is Ran Hill, a Malaysian company.

SembE&C, a wholly owned subsidiary of SembCorp Industries, is the largest engineering and construction company in South East Asia. The company specialises in civil engineering, process plant engineering and building construction and is known for its project management capabilities.

Temasek Holding, which owns and manages the Singapore government's direct investments, holds a majority 51.5 percent stake in SembCorp Industries.
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Glenmark in exclusive marketing tie up with InvaGen
Mumbai: Glenmark Pharmaceuticals wholly owned US subsidiary, Glenmark Pharmaceuticals (USA), has made a exclusive marketing tie-up with InvaGen for its Fosinopril Sodium oral tablets [Monopril®] in the US market.

Glenmark Pharmaceuticals in a notice to the BSE said, InvaGen filed the ANDA and obtained USFDA nod for the Fosinopril Sodium product in April 2005. Fosinopril is an anti-hypertensive agent of the ACE Inhibitor class, with a US generic market size of $92 million, which is used to lower blood pressure and treat congestive heart failure.
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Grasim Industries Q1 net profit up 14.6 percent
Mumbai: Flagship company of the Aditya Birla Group, Grasim Industries has posted a 14.6 per cent rise in net profit at Rs250.95 crore in the first quarter ended June 30, 2005, compared with Rs219.17 crore recorded for the same quarter of the previous fiscal.

The company's total income rose 5.57 per cent to Rs1,618.77 crore for the reporting quarter from Rs1,533.34 crore in the year-ago period, Grasim Industries said in a release.

On a consolidated basis, the company's net profit went up by 33.19 per cent to Rs296.1 crore from Rs222.3 crore. Net revenue grew 55.7 per cent to Rs2495.3 crore from Rs1602.1 crore. The consolidated figures include the financial numbers of UltraTech Cement and its subsidiaries.
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Rain Calcining to acquire US firm
Mumbai: Rain Calcining based in Hyderabad, is said to be at an advanced stage of talks with American calcining giant Great Lakes Carbon. for acquisition. The US company has more than four times the production capacity of the Hyderabad-based calcining company.

Rain Calcining has a capacity to manufacture of 300,000 tonne per annum of calcined petroleum coke — a high purity carbon used in the electrolytic smelting process that produces aluminium.

"The company is looking at various options to expand its business in and outside the country.

Rain Calcining recently signed a joint venture to set up a manufacturing company in Kuwait with a capacity of 350,000 tonne a year.

Rain Calcining recorded a net profit of Rs12 crore in the last financial year over total sales of Rs364.25 crore.
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Tata Coffee plans Rs 100-crore facility for freeze dried coffee
Mumbai: Tata Coffee proposes to set up a manufacturing facility for freeze dried coffee at a cost of approximately Rs 100 crore. The facility is to have a capacity of 2,000 tonne per annum and will be set up under the Export Oriented Unit / Special Economic Zone scheme.

According to company sources the facility will cater to the demand from European and Russian markets and would be operational by the next fiscal.

Tata Coffee is also set to buy out six plantations in South India of parent company Tata Tea for nearly
Rs55 crore.

Out of the six plantations, one is in Kerala while the remaining are in Tamil Nadu.
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Deccan net profit increases 81 per cent
Mumbai: Deccan Chronicle has registered an 81 per cent increase in net profit at Rs14.31 crore for the quarter ended June 30, 2005 compared with Rs7.37 crore during the corresponding quarter in the previous year.

Net sales grew by 94 per cent at Rs63.63 crore for the first quarter against Rs32.83 crore during the corresponding quarter in the previous year. Revenues for the first quarter of this financial year also include revenues generated by Asian Age Holdings. In this quarter, Deccan Chronicle had acquired 67 per cent of the English news daily Asian Age's shares for Rs17.10 crore aggregating to a total stakeholding of 90 per cent. Asian Age had posted a revenue of Rs12.07 crore.

The company is planning to offer 9 per cent of its equity stake to strategic investors either through private placement or through one of the instruments like foreign currency convertible bonds, American depository receipts, global depository receipts or Singapore depository receipts.
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