Ashok Leyland in black, Q1 net at Rs 9.74 cr
Chennai: Ashok Leyland Friday announced that, riding on a 19 per cent volume growth, it trebled gross profits while the topline grew 11.4 per cent. The company reported a net profit of Rs 9.74 crore for the first quarter ending June 30, 2002 as opposed to a loss of Rs 9.4 crore for the same period last year. Sales turnover for the quarter, was Rs 649.7 crore (Rs 583. crore). This is against an 8 per cent increase in expenditure at Rs 589.10 crore (Rs 545 crore). Total sales volume for the quarter stood at 7,681 vehicles as against 6,446 vehicles in Q1 of last fiscal. (Our Bureau)
HPCL net profit drops 28% in Q1
Mumbai: Hindustan Petroleum Corporation has posted a 27.99 per cent drop in net profit in the first quarter of current fiscal at Rs 116.62 crore from Rs 161. 96 crore for the quarter ended June 30, 2001. Gross sales increased 4.09 per cent to Rs 12, 231.39 crore (Rs 11,749.68 crore). Net sales income from operations rose 8.43 per cent to Rs 12,362.90 crore (Rs 11,400.76 crore). (Our Corporate Bureau)
Ceat posts Rs 5.95 cr net in Q1
Mumbai: Ceat Ltd has posted a net profit of Rs 5.95 crore for the first quarter ended June 30 as compared with a net loss of Rs 2.95 crore in the corresponding period last year. Sales increased 9.7 per cent to Rs 352.23 crore (Rs 320.77 crore). Managing director Paras K Chowdhary said the company was targeting to become a Rs 1500 crore business this year. Operating profit stood at Rs 27.3 crore, up 58 per cent. (Our Corporate Bureau)
Philips posts Rs 13.4 cr net profit
Mumbai: Philips has recorded a net profit of Rs 13.4 crore for the second quarter ended June 30 as compared with a net loss of Rs 8.7 crore in the corresponding period last year. Sales increased from Rs 360.9 crore to Rs 393.3 crore in the quarter. Operating profit (after depreciation and interest but before exceptional items) increased to Rs 21.2 crore for the quarter against Rs 7.8 crore. (Our Corporate Bureau)
GlaxoSmithKline Pharma net down
Mumbai: GlaxoSmithKline Pharmaceuticals has posted a 10 per cent fall in net profit at Rs 40.46 crore for the quarter ended June 30, 2002 as compared with Rs 44.98 crore in the same period previous year. Total income (net of excise) has increased to Rs 281.71 crore (Rs 241.73 crore). (Our Corporate Bureau)
Novartis Q2 bottomline up 138%
Mumbai: Novartis India has recorded a 138 per cent increase in net profit at Rs 16.7 crore for the first quarter ended June, 2002 against Rs 7 crore in the same period previous year. Sales grew 15.4 per cent at Rs 127.5 crore. (Our Corporate Bureau)
JB Chemicals Q1 net rises 21.6%
Mumbai: JB Chemicals and Pharmaceuticals has reported a 21.6 per cent rise in net profit at Rs 8.5 crore for the first quarter of the current fiscal against Rs 6.9 crore in the same period previous year. Net sales increased 11.93 per cent at Rs 61.68 crore (Rs 55.10 crore). The basic and diluted earnings per share for the first quarter ended June 30 is Rs 5.30 (Rs 4.35) on a share capital of Rs 16.05 crore. (Our Corporate Bureau)
Matrix net up 10-fold to Rs 20.29 cr
Hyderabad: Matrix Laboratories, buoyed by the export of an anti-depressant bulk drug to European markets, has reported a ten-fold increase in its net profit for the first quarter of the current fiscal. Net profit stood at Rs 20.29 crore on sales of Rs 50.68 crore, compared with a net profit of Rs 2 crore on a turnover of Rs 35.20 crore in the corresponding period last year. (Our Bureau)
Alembic bottomline zooms 315%
Ahmedabad: The profit before tax of Alembic has zoomed 315 per cent at Rs 7.01 crore for the quarter ended June 30, 2002 against Rs 1.69 crore posted in the same period of the last year. Sales grew 8 per cent at Rs 130.32 crore (Rs 120.56 crore). (Our Regional Bureau)
SBBJ Q1 net up 52% at Rs 46.67 cr
Mumbai: State Bank of Bikaner and Jaipur (SBBJ) has reported a 52 per cent jump in net profit at Rs 46.67 crore in the first quarter ended June 30, 2002 as against Rs 30.70 crore in the corresponding quarter in 2001-02. Total income increased seven per cent to Rs 406.97 crore (Rs 380.37 crore) and operating expenses was up 3.43 per cent at Rs 86.69 crore (Rs 83.81 crore). The gross NPAs have been brought down to Rs 602 crore as on June-end 2002 as against Rs 681 crore as on June-end 2001. Gross NPAs to total advances have declined to 9.66 per cent (12.68 per cent) and net NPAs to net advances have declined to 4.42 per cent (7.11 per cent). (Our Banking Bureau)
REC net profit at Rs 388 crore
New Delhi: Rural Electrification Corporation (REC) has registered a growth of 15 per cent in net profit at Rs 388 crore during 2001-02, as against Rs 337 crore during the previous fiscal. The corporation has registered a 17.26 per cent increase in gross turnover at Rs 1,664.66 crore during the last fiscal, as against Rs 1,419.61 crore during 2000-01. (Our Bureau)
NMDC Q1 net up 15% to Rs 50.45 cr
Hyderabad: National Mineral Development Corporation (NMDC) has announced a 15 per cent increase in net profit at Rs 60.45 crore for the first quarter compared with the Rs 52.58 crore posted in the corresponding period last year. Net sales rose 11.73 per cent to Rs 269.65 crore (Rs 241.34 crore). Profit before tax increased 22 per cent to Rs 83.41 crore (Rs 68.32 crore). Earnings per share were up from Rs 3.96 to Rs 4.57. (Our Bureau)
