| Novartis India has posted a net profit of Rs 21.8 crore for the quarter ended December 31, 2004, down by 55 per cent compared with Rs 48.8 per cent in the corresponding period previous year. Net sales for the quarter decreased by 7 per cent to Rs 135.1 crore against Rs 145.3 crore in the same quarter previous year. |
| Consumption of raw materials for the quarter increased to 6.8 crore from Rs 4.9 crore, while staff cost stood reduced at Rs 10.3 crore from Rs 10.9 crore. |
| Novartis India has sold its anti-TB bulk drug Rifampicin business and its manufacturing facility at Ahad in Maharashtra to group company Sandoz Pvt Ltd for Rs 30.77 crore. |
| According to the company, the value has been determined on the basis of a valuation report by Bansi S Mehta & Co, Chartered Accountants. |
| The consideration, the company said, will be suitably adjusted to represent any change in net asset value on the date of transaction. It will seek shareholder's approval of this proposal by postal ballot and necessary regulatory approval. |
| National Fert net up 55% to Rs 38.12 cr |
| The state-owned National Fertilizers reported a 55 per cent year-on-year jump in net profit at Rs 38.12 crore for the third quarter of this fiscal. Net profit for the nine months (April-December 2004) increased 38 per cent to Rs 75.34 crore. |
| Enhanced production and sales, operational efficiencies have resulted in increase in the profits, an NFL release said. The board also declared an interim dividend for 2004-05 at 3.5 per cent of the paid-up capital, it added. |
| Ramco Inds net up 2% to Rs 4.98 cr |
| Ramco Industries registered a net profit of Rs 4.98 crore in the third quarter of 2004-05, higher by 1.63 per cent compared with Rs 4.90 crore in the corresponding period of the last fiscal. |
| The board announced an interim dividend of Rs 3 per share, each with a face value of Rs 10. Net sales was Rs 42.64 crore, up by 22.52 per cent compared with Rs 34.80 crore in the year-ago period. |
| The company's press release said that the board has given an in-principle approval to set up a cotton spinning mill with an installed capacity of 14,400 spindles at Rajapalayam, Tamil Nadu. |
| In addition, the company is setting up a 600 tonne per day cement clinker grinding unit at Kharagpur in West Bengal. |
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