NIIT Q4 net up 14 pc
New Delhi: NIIT Technologies has posted a 14 per cent increase in net profit at Rs19.2 crores for the fourth quarter ended March 2006. The company's consolidated revenue during Q4 was up 21 per cent at Rs166.2 crores. The company has announced an enhanced dividend of 60 per cent for 2005-06.

|The company's operating margin was improved by 20 per cent in Q4. Fresh order intake of $31 million in Q4 resulted in a pending order book of $76 million executable over 12 months, he said. NIIT Technologies posted a 13 per cent rise in its consolidated net profit for the year ending 2005-06 at Rs66.3 crore.

The company's consolidated revenue touched Rs607.5 crore in the year ending 05-06, which reflected a 12 per cent increase over the revenue in the previous fiscal.

Rajindra S Pawar, chairman, NIIT Technologies said, "Europe continued to provide the maximum share of business representing 43 per cent of total revenue while the US improved its contribution to 39 per cent during the year," he said.
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Ramco to implement process production suite at Amrutanjan
Chennai: Ramco Systems, a global enterprise solutions provider, has announced that it would implement the process production suite for Amrutanjan, a public healthcare company. The suite comprises functions that included financials, logistics, sales, production and quality modules and the implementation would streamline operations by integrating Amrutanjan's factories in Hyderabad and Chennai with its branch offices and C & F a gents, a Ramco release said here.

"The implementation would help Amrutanjan eliminate manual process and date redundancy, enable accurate and timely preparation of MIS reports, streamline processes across locations and functions thereby resulting in informed business decision making," the release said.
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Paramount Communications gets orders worth Rs20-cr
Mumbai: Paramount Communications, which makes insulated cables, has received orders worth more than Rs20 crore for supplying specialised power distribution cables to a major private power distribution group in the country.

The order is the largest the company has secured against a single bid, from the private distribution companies (Discoms), Paramount Communications informed the Bombay Stock Exchange.

After raising $15 million (Rs67.3 crore approximately) through global depository receipts (GDRs), the company is also setting up additional facilities for manufacturing high tension and low tension power cables, it added.
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Radha Madhav to raise Rs78.5-cr for expansion plans
Mumbai: Radha Madhav Corporation which is into packaging and printing plans to raise Rs78.5 crore through foreign currency convertible bonds, warrants and term loan from banks to finance its Rs86.6 crore expansion plans.

The company earlier raised Rs8.1 crore through the allotment of 18 lakh equity shares to a foreign investor at Rs45 per share to part finance its pharma packaging expansion, the company informed the Bombay Stock Exchange.

The State Industrial Development Corporation of Uttaranchal Ltd. (SIDCUL) has allotted land to the company in the state of Uttaranchal, it added.

Radha Madhav has also given orders for a machinery, capable of producing approximately 1,60,000 metric tonne per annum to Kusters Calico in technical collaboration with Pagenderm of Germany.
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Hero Honda launches Glamour FI bikes
New Delhi: Hero Honda has launched its fuel-injection technology motorcycle "Glamour FI," priced at Rs49,990 onwards. The 125 cc Glamour FI model is available in two variants with the base model priced at 49,990 and the upper model with disk brakes at Rs53,990 ex-showroom Delhi, the company said.

The company said it has dispatched the bikes to 180 dealers and it would be available for test drives.
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GVK group to merge Novopan with 3 cos
Mumbai: GVK group's three companies GVK Novopan Industries (P) Ltd, Resin Division of GVK Petrochemicals (P) Ltd and Novofurniture (P) are being merged with another group company - Novopan Industries-for Rs25.32 crore to consolidate the particleboards operations of the group.

Novopan would issue 31.17 lakh equity shares to the shareholders of these three companies against the consideration for this merger.

The share capital of Novopan after the merger would increase to Rs11.91 crores from the present Rs8.79 crore. Novopan Industries is a GVK enterprise, which pioneered the concept of ready-to-use pre-laminated particleboards in India.
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BHEL bags Rs55-cr contract in Bangladesh
New Delhi: Bharat Heavy Electricals (BHEL) has received a Rs55 crore contract for setting up a sub-station in Bangladesh. The contract was awarded by Power Grid Company of Bangladesh for supply and installation of a 230 kV substation at Baghabari Power Plant and extension of Ishurdi substation.

The contract is being funded by Asian Development Bank. The engineering major has executed several contracts in the neighbouring country, including a turnkey project for a 100 MW power plant, but this would be the first order for substations.

BHEL would be involved in design, supply, construction and commissioning of 230 kV substation at Baghabari and expansion of Ishurdi substation.
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Cipla gets USFDA nod for HIV drug
New Delhi: Pharmaceutical firm Cipla has received tentative approval from the USFDA for its abbreviated new drug application (ANDA) for anti-HIV/AIDS drug Slamivudine. The approval is for the oral solution of strength 10mg per ml. The drug is in a class of medications called nucleoside reverse transcriptase inhibitors and works by stopping the spread of the HIV and hepatitis B viruses.
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ONGC posts record profit
New Delhi: Despite having to shoulder a substantial portion of oil subsidy, Oil and Natural Gas Corporation has reported the highest ever net profit of Rs14,431 crore for the fiscal 2005-06, 28.54 per cent of the turnover of Rs50,446 crore compared to a net profit of Rs12,983 crore on a turnover of Rs48,442 crore recorded in 2004-05. The turnover went up by 4 per cent while the net profit has jumped 11 per cent resulting in an overall 1.74 per cent increase. The earning per share increased from Rs91.05 in 2004-05 to Rs101.20 in 2005-06.

The company declared a final dividend of 200 per cent, which, along with the interim dividend of 250 per cent, takes the total annual dividend to 450 per cent. The total dividend payout would be Rs6.417 crore. Out of this, Rs4,758 crore would accrue to the Centre, which holds 74.14 per cent stake in the company.

The company's overseas arm, ONGC Videsh, would be able to contribute towards the country's oil requirements from around the end of this year.
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VSNL Q4 net down
Mumbai: Videsh Sanchar Nigam's fourth quarter net has come down by one third for the period ended March 31, 2006. This was mainly due to a one-time gain of Rs411 crore from sale of long-term investments the previous fiscal.

Net profit for the quarter amounted to Rs111.5 crore, down from Rs399.2 crore during the previous corresponding quarter.

This was despite higher revenues as well as higher profit before taxes and exceptional items. Revenues rose by 12.9 per cent to Rs1,029 crore, up from Rs911 crore.

Profit before taxes and exceptional items rose by 23.3 per cent to Rs197.6 crore (Rs160.2 crore). The company's net profit for the year ended March 31, 2006, dipped by 36.6 per cent to Rs479.6 crore, down from Rs756 crore the previous fiscal due to a one-time gain of Rs468 crore the previous fiscal.

Total income during the year rose by 17.5 per cent to Rs4,009.8 crore (Rs3,410.5 crore).

Total expenditure rose by only 14.6 per cent to Rs2,905 crore (Rs2,533 crore).

Profit before taxes and exceptional items rose by over 19 per cent to Rs754 crore (Rs632 crore).

While wholesale voice revenues rose to Rs2,162 crore (Rs1,876 crore) and results to Rs460 crore (Rs309 crore), enterprise revenues rose to Rs1,261 crore (Rs1,117 crore), while profits rose to Rs1,025 crore up from Rs873 crore.

The company's consolidated net profit amounted to Rs69.8 crore as against Rs708.6 crore, while total income amounted to Rs4,799 crore up from Rs3,413 crore. The consolidated results include that of VSNL Singapore Pte Ltd in which are incorporated the operations of Tyco Global and Teleglobe International; and that of VSNL Broadband Ltd (earlier Tata Power Broadband).

The Board of Directors has recommended a dividend of 45 per cent for the year.
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Dr Reddy's launches generic Zocor
Hyderabad: Dr Reddy's Laboratories has launched the authorised generic version of Merck & Company's cholesterol drug Zocor (simvastatin) in 5mg, 10mg, 20mg, 40mg and 80mg doses on Friday following the expiry of compound patents for the drug.

The company said it had entered into separate agreements with Merck that allowed it to launch the authorised generic versions of Proscar (cancer drug) and Zocor. The company launched the generic version of Proscar in 5 mg tablets form on June 19 following the expiry of the compound patent. The innovator sales for this drug stood at $393-million, while that of Zocor amounted to $4.5-billion.
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GM launches NEO series of Tavera
New Delhi: General Motors India has launched the NEO series of the Chevrolet Tavera. The Tavera NEO comes with improved interiors and new seating options and according to the company represents an extension of GM's commitment to exceed customer expectations in our products and services.

The NEO range starts at a price of Rs7.26 lakh (ex-showroom Delhi).
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ITC to invest Rs1,000-cr in Bengal
Kolkata: ITC Ltd proposes to invest Rs1,000 crore on a number of projects in West Bengal.

The chairman of ITC Y.C. Deveshwar, meeting the West Bengal chief minister, Buddhadeb Bhattacharjee, at Writers' Buildings unveiled the company's investment plans in the State and requested the State Government for land for setting up the proposed projects.

Deveshwar told the press that the proposed investments would be made in areas such as agri-business, hotels, cigarettes, logistics and IT. The company's plans for the agri-business sector would veer round farmers, fruits and vegetables. Cold chains would be set up even as the business model would encompass wholesale and cash-and-carry facilities. The company would enter into buyback arrangements with farmers as well, he said.

A large part of the investment of about Rs350 crore would be made on expansion of ITC Shonar Bangla, the group's existing five-star hotel here. The setting up of a new hotel has also been proposed. An additional 10 acres of land would be required for this purpose. Another Rs300 crore would be invested in the expansion of ITC's cigarette factory at Khidderpore in Kolkata. The company has also proposed the setting up of a biscuit factory and a logistics hub. The implementation of both these projects would require 20 acres of land each.

ITC has also asked for 50 acres of land for rolling out its IT project here. Over time, the IT facility would engage "up to 1,000" professionals.
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Flag, Omantel sign pact
Mumbai: Reliance Communications group company Flag Telecom Omantel have signed an agreement to make Oman a telecommunication link between West Asia and Africa. One of the agreements is to make Oman a link between Africa and West Asia in the Flag's loop cable project, relating to the extension of communication links to Egypt and Hong Kong via marine cables with multiple landings in the Gulf region. Under the project, Omantel will seek to extend the African cable through a network of marine cables to converge at Seeb and Khasab in Oman.
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TVS Motor turnover up
Bangalore: TVS Motor has registered its highest-ever turnover of Rs3,305.96 crore during 2005-06 achieving a growth of 12 per cent over the previous year's turnover of Rs2,955.21 crore. The company has attributed this to a strong growth in the motorcycles market during the year. The company recorded a PBT of Rs168.45 crore and PAT of Rs117 crore during the period.

The total number of two-wheelers sold during the year was 1.34 million units, recording a growth of 15 per cent over previous year's sales of 1.17 units.

According to a release issued by the company, the launch of Apache helped strengthen the motorcycle portfolio of the company. Exports grew during the year clocking a record 78,644 units during the year as against 48,560 units in the corresponding previous year.
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