Mukta Arts Q4 net at Rs 20.54 million, FY 2000 net at Rs 70.42 million

Mukta Arts Ltd has reported a net profit of Rs 20.54 million in the quarter ended December 31, 2000. Net Sales stood at Rs 42.79 million in DQ 2000. Other Income stood at Rs 7.76 million in the quarter ended December 31, 2000. The Company has posted a net profit of Rs 70.42 million for the financial year ended December 31, 2000. Net sales for FY 2000 stood at Rs 99.65 million and other income stood at Rs 24.18 million for FY 2000. The Company has entered into contract with Windmill Holding Ltd (a Mauritius based entity) for sale of satellite rights of 8 movies for limited telecast for an amount of US $ 3.13 million against this an advance of US $ 2,50,000 has already been received. The Board in its meeting has advised initiating necessary action in respect of termination of the said contract in view of default and violation of the clauses of the contract. The Company has incorporated Whistling Woods International Private Ltd (a subsidiary Company) for implementing of its Research and Training Institute cum Studio project in Joint Venture with Maharashtra Film Stage and Cultural Development Corporation Ltd (a State Govt. Undertaking).

Tata Finance revises terms of rights issue

The Board of Directors of Tata Finance Ltd at its meeting held today (January 30, 2001) has decided that the Conversion of Cumulative Preference Shares to Equity would be at a minimum price of Rs 45 and at a maximum price of Rs 75 per share. This is against the minimum conversion price of Rs 50 contemplated by the Company earlier.

Themis Chem DQ 2000 net at Rs 15.51 million

Themis Chemicals Ltd has posted a net profit of Rs 15.51 million in the quarter ended December 31, 2000 as against Rs 22.44 million in the same quarter for the previous fiscal. Net Sales stood at Rs 142.05 million in DQ 2000 as compared Rs 253.61 million in DQ 99. Other Income stood at Rs 7.05 million in the quarter ended December 31, 2000 as compared to Rs 0.45 million in the quarter ended December 31, 1999. Net sales and Net profit for the current quarter are not comparable with the same quarter last year. This is due to execution of major export order last year.

Bata India gets new MD

At a meeting of the Board of Directors of Bata India Ltd held today (January 30, 2001) the Board has appointed Mr. Chandu Morzaria as the Managing Director of the Company with effect from January 30, 2001. The appointment is pursuant to the resignation of Mr. William Keith Weston, Managing Director of the Company from the board with effect from today (January 30, 2001)

Abbott reports net profit of Rs 13.91 million

Abbott Laboratories (India) Ltd has reported a net profit of Rs 13.91 million in the quarter ended December 31, 2000 as against Rs 11.94 million in the same quarter for the previous fiscal. Net Sales decreased from Rs 239.16 million in DQ 99 to Rs 224.25 million in DQ 2000. Other Income stood at Rs 2.06 million in the quarter ended December 31, 2000 as compared to Rs 1.36 million in the quarter ended December 31, 1999. The Company has reported that the drop in sales in the current quarter by 6.24% is mainly attributed to: (a) Steep price reduction of products contributing to more than 40% of the total turnover of the Company. (b) Termination of Co-marketing arrangement with Glaxo India Ltd, partially offset by high growth of recently introduced nutritional business.

P & G Q2 net up by 27.74%

Procter & Gamble Hygiene and Health Care Ltd has reported a net profit of Rs 264.30 million in the quarter ended December 31, 2000 as compared to Rs 206.90 million in the quarter ended December 31,99. Net Sales are up from Rs 1341.40 million in DQ 99 to Rs 1359.20 million in DQ 2000. Other Income for the quarter ended December 31, 2000 is at Rs 11.50 million as compared to Rs 10 million in DQ 99. Commenting on the performance, Mr B.V.Patel, the Chairman of Procter & Gamble Hygiene and Health Care said " The good results are an outcome of a strong performance in our core categories - Feminine Hygiene and Health Care. In the Feminine Hygiene category, Whisper benefited from the strong product initiative program, a constant stream of advertising news and strengthened distribution system. Whisper Ultra - the most technologically advanced product in the category continued to show strong growth. In the Health Care category, Vicks grew behind the move to global megabrand packaging, upsizing of Vicks Cough drops, and outstanding anti-counterfeiting efforts."

Anand Mahindra appointed Vice-Chairman of M & M

The Chairman, Mr. Keshub Mahindra and the Board of Directors of Mahindra & Mahindra Ltd today (January 30, 2001) announced that Mr. Anand G.Mahindra has been appointed Vice Chairman of the Company in addition to his responsibilities as the Managing Director. Anand Mahindra joined Mahindra Ugine Steel Company Ltd in 1981 and was appointed its President and Deputy Managing Director of Mahindra & Mahindra Ltd in 1991 and since 1997, has been the Managing Director of the group, which is India's leading manufacturer of multi-utility vehicles and farm equipments. The Chairman also announced that Mr. Anupam (Tino) Puri has joined the Board as non-executive Director of the Company. The two appointments reaffirm the Mahindra's Group commitment to a plan of benchmarking itself against international standards and using the best available professional management talent to strengthen its core businesses while strategically identifying exploiting diversification opportunities.

Asian Star Q3 net down by 21.27%

Asian Star Co. Ltd. has reported a net profit of Rs 39.45 million in the quarter ended December 31, 2000 as against Rs 50.11 million in the same quarter for the previous fiscal. Net Sales increased from Rs 1166.26 million in DQ 99 to Rs 1456.90 million in DQ 2000. Other Income stood at Rs 0.39 million in the quarter ended December 31, 2000 as compared to Rs 3.28 million in the quarter ended December 31, 1999.

Kaashyap Radiant Q1 net up by 116.17%

Kaashyap Radiant Systems Ltd has reported a net profit of Rs 27.16 million in the quarter ended December 31, 2000 as against Rs 12.56 million in the same quarter for the previous fiscal. Net Sales increased from Rs 58.37 million in DQ 99 to Rs 110.87 million in DQ 2000. Other Income stood at Rs 0.38 million in the quarter ended December 31, 2000 as compared to Rs 0.05 million in the quarter ended December 31, 1999. An MOU dated December 31, 2000 was concluded with Hassan A Karim Algathani Sons Company, Kingdom of Saudi Arabia to form a 50:50 Joint Venture Company in Dubai Internet City to further expand the reach of the Company's services and solutions in Middle East and North Africa, benefit of which will accrue the future quarters of the current year.

Philips FY 2000 results on Feb 09, 2001

A meeting of the Board of Directors of Philips India Ltd is scheduled to be held on February 09, 2001 to consider the Audited Financial Results of the Company for the year ended December 31, 2000.

American Remedies Q3 net profit at Rs 24.98 million

American Remedies Ltd has reported a net profit of Rs 24.98 million in the quarter ended December 31, 2000 as against a net loss of Rs 36.47 million in the same quarter for the previous fiscal. Net Sales decreased from Rs 238.74 million in DQ 99 to Rs 205.05 million in DQ 2000. Other Income stood at Rs 0.09 million in the quarter ended December 31, 2000 as compared to Rs 6.65 million in the quarter ended December 31, 1999.

Creative Eye Q3 net up by 115.56%

Creative Eye Ltd has reported a net profit of Rs 14.53 million in the quarter ended December 31, 2000 as against Rs 6.74 million in the same quarter for the previous fiscal. Net Sales increased from Rs 147.16 million in DQ 99 to Rs 157.87 million in DQ 2000. Other Income stood at Rs 2.95 million in the quarter ended December 31, 2000 as compared to Rs 5.21 million in the quarter ended December 31, 1999. During the current quarter, the Company has issued and allotted 50,44,000 equity shares of Rs 5 each for cash at a premium of Rs 45 per share, aggregating to Rs 252.20 million by way of Book Building and Fixed Price basis.

Tata Chemicals Q3 net up by 125.20%

Tata Chemicals Ltd has reported a net profit of Rs 2518.20 million in the quarter ended December 31, 2000 as against Rs 1118.20 million in the same quarter for the previous fiscal. Net Sales stood at Rs 3777 million in DQ 2000 as compared to Rs 3794.40 million in DQ 99. Other Income stood at Rs 2290.70 million in the quarter ended December 31, 2000 as compared to Rs 809.60 million in the quarter ended December 31, 1999. Other income for the current quarter includes the investment income of Rs 2205.40 million of the erstwhile subsidiary, Sabras Investment & Trading Co. Ltd, the merger of which with the Company has now, on completion of all legal formalities, become effective from April 01, 2000.

German Remedies Q3 net up by 16.84%

German Remedies Ltd has reported a net profit of Rs 65.86 million in the quarter ended December 31,2000 as compared to Rs 56.37 million in the same quarter previous fiscal. Net Sales are up by7.82%,at Rs 458.75 million in the quarter ended December 31, 2000 as against Rs 425.47 for the quarter ended December 31, 99. Other Income stood at Rs 3.44 million in DQ 2000 as against Rs 1.67 million in DQ 99.

Indian Oil Q3 net up by 2.74%

Indian Oil Corporation Ltd has reported a net profit of Rs 5194/- million in the quarter ended December 31, 2000 as against Rs 5055.60 million in the same quarter for the previous fiscal. Net Sales increased from Rs 260513.10 million in DQ 99 to Rs 319149.90 million in DQ 2000. Other Income stood at Rs 2593/- million in the quarter ended December 31, 2000 as compared to Rs 1791/- million in the quarter ended December 31, 1999.

SBI Q3 net down by 45.05%

State Bank of India has reported a net profit of Rs 2200.50 million in the quarter ended December 31, 2000 as compared to Rs 4005 million in the quarter ended December 31, 99. Total Income for the quarter ended December 31, 2000 is at Rs 72626 million as compared to Rs 64444.30 million in the quarter ended December 31, 1999. The working results for the quarter ended December 31, 2000 have been arrived at after considering provision for NPA's, Bonus, Gratuity, Income tax, Wealth Tax, etc on an estimated basis. Further an amount of Rs 462 million has been provided during this quarter towards the estimated full amount at one time issue expenses of India Millennium Deposits, to be redeemed at the end of five years, in the year 2005-06. The Bank has introduced a Voluntary Retirement Scheme for eligible employees, open from the January 15, 2001 to January 31, 2001 and the applications received are under processing. The manner of absorption of the Cost will be decided after the process of acceptance of the applications is completed. The investment portfolio of the Bank has been classified in accordance with the instructions issued by RBI dated October 16, 2000 and the relative accounting policies have been modified accordingly. The Bank has incorporated a subsidiary SBI Life Insurance Company Ltd for doing Life insurance business, in which it will hold 74% equity. The Bank has also identified M/s. Cardif S.A. of France to be the joint venture partner who will hold 26% equity in the Company.

L & T Q3 net up by 72.13%

Larsen & Toubro Ltd has posted a net profit of Rs 332.90 million for the quarter ended December 31, 2000 as compared to a net profit of Rs 193.40 million for the corresponding period last fiscal. Net Sales for the quarter ended December 31, 2000 are at Rs 19412 million as against Rs 17298.80 million in DQ 99. Other income has fallen from Rs 260.20 million in DQ 99 to Rs 219.30 million in the quarter ended December 31, 2000. During the period ended September 30, 2000 the Board approved the demerger of cement business of the Company subjected to necessary approvals. The process of finalisation of scheme of demerger and identification of strategic partner is in progress. The Board had also approved the transfer of the business of Rubber Processing Machinery Division of LTM Ltd (a wholly-owned subsidiary of the Company at book value to the Company, effective April 1,2000 and accordingly the figures for the quarter ended December 31, 2000 include the operating results of the said Division Figures for the previous year are not comparable to that extent. The Company commissioned its cement grinding plant of 1 million tonne capacity at Arakkonam in Tamil Nadu in December 2000. With this unit the total cement capacity of the company has gone up to 15 million tonnes p.a

Dr Reddy's Lab Q3 net up by 44.73%

Dr Reddy's Laboratories Ltd has posted a net profit of Rs 319.39 million in the quarter ended December 31, 2000 as against Rs 220.68 million in the same quarter for the previous fiscal. Net Sales increased from Rs 1075.02 million in DQ 99 to Rs 1948.41million in DQ 2000. Other Income stood at Rs 84.20 million in the quarter ended December 31, 2000 as compared to Rs 3.01 million in the quarter ended December 31, 1999. The results for the current quarter ended December 31, 2000 are not comparable with the corresponding quarter previous year, as the current quarter results include results of Cheminor Drugs Ltd pursuant to the approval of the scheme of merger by the Hon'ble High Court of Andhra Pradesh. The Company's equity shares are yet to be allotted to the shareholders of M/s. Cheminor Drugs Ltd and the process of allotment is in progress.

Corporation Bank Q3 net up by 26.31%

Corporation Bank has reported a net profit of Rs 829.60 million in the quarter ended December 31, 2000 as compared to Rs 656.80 million for the quarter ended December 31,99. Total Income for the quarter ended December 31, 2000 is at Rs 5211 million as compared to Rs 4601.30 million in the quarter ended December 31, 99. The working results for the quarter ended December 31, 2000 have been arrived at after considering provision for NPA's, Bonus, Income Tax, Wealth Tax, Investment, Depreciation, etc, on an estimated basis.

Britannia Q3 net up by 27.64%

Britannia Industries Ltd has reported a net profit of Rs 157 million in the quarter ended December 31, 2000 as against Rs 123 million in the same quarter for the previous fiscal. Net Sales increased by18%, from Rs 2710 million in DQ 99 to Rs 3198 million in DQ 2000. Other Income stood at Rs 7 million in the quarter ended December 31, 2000 as compared to Rs 17 million in the quarter ended December 31, 1999. Net sales for the current quarter increased by 18% through higher sales of the Company's bakery and dairy products.

Mahindra & Mahindra Q3 net down by 43.67%

Mahindra & Mahindra Ltd has reported a net profit of Rs 438.08 million in the quarter ended December 31, 2000 as compared to Rs 777.65 million in the quarter ended December 31,99. Net Sales for the quarter ended December 31, 2000 is at Rs 9048.75 million as compared to Rs 9834.67 million in the quarter ended December 31, 99. Other Income in DQ 2000 is at Rs 60.45 million as against Rs 92.30 million in DQ 99.

Cipla Q3 net up by 53.76%

Cipla Ltd has reported a net profit of Rs 535.40 million in the quarter ended December 31, 2000 as against Rs 348.20 million in the same quarter for the previous fiscal. Net Sales increased by 47.29%, at Rs 2756.40 million in DQ 2000 as compared to Rs 1871.50 million in DQ 99. Other Income stood at Rs 81.60 million in the quarter ended December 31, 2000 as compared to Rs 72.20 million in the quarter ended December 31, 1999.

Command Systems to be acquired by ICICI Infotech

ICICI Infotech Inc, the US subsidiary of ICICI Infotech Services Ltd, the information technology subsidiary of ICICI Ltd and Command Systems, Inc has announced that they have approved and entered into a definitive Merger Agreement which calls for a cash tender offer of $5.00 per share to holders of Command Systems common stock by a wholly owned subsidiary of ICICI Infotech Inc. (Noweo) The tender offer will commence no later than February 12, 2001 and will be all for all of Command Systems' outstanding command stock. Upon successful completion of the tender offer pursuant to which 60% or more of the shares are tendered, the Merger Agreement calls for a merger with Noweo, subject to, among other things, compliance with applicable law, pursuant to which remaining shareholders will receive cash in the same amount as paid in the tender offer. The value of the transaction is approximately $40 million. The Board of Directors of Command Systems has approved the merger agreement and recommends to Command Systems shareholders that they tender their shares in the tender offer. The tender offer is subject to certain conditions, including the tender of at least 60%, of the Command Systems' outstanding common stock. The tender offer will expire twenty business days after it is commenced, but may be extended under certain circumstances.

ONGC Q3 net up by 11.30%

Oil and Natural Gas Corporation Ltd has posted a net profit of Rs 14038 million or the quarter ended December 31, 2000 as compared to Rs 12612.80 million in the same period last fiscal. Net Sales for the quarter ended December 31, 2000 is at Rs 61528.60 million as compared to Rs 62621.40 million in the quarter ended December 31, 99. Other Income for the quarter ended December 31, 2000 is at Rs 2100.70 million as compared to Rs 1913.70 million for the quarter ended December 31, 99. Interest expenditure has declined from Rs 1262.80 million in DQ 99 to Rs 872 million in DQ 2000. The Sales revenue for the current quarter includes includes arrears of Rs 2784.90 million, out of which Rs 2727 million is against reimbursement of PPD charges for the period 1993-98 (Corresponding previous year quarter includes arrears of Rs 7601.50 million on account of price revision of Crude Oil, C2-C3 and LPG/NGL).

Torrent Pharma Q3 net down by 56.05%

Torrent Pharmaceuticals Ltd has reported a net profit of Rs 131.80 million in the quarter ended December 31, 2000 as compared to Rs 299.90 million in the same period last fiscal. Net Sales are down from Rs 1543.10 million in DQ 99 to Rs 934.60 million in DQ 2000. Other Income for the quarter ended December 31, 2000 is at Rs 22.30 million as against Rs 8.60 million in the quarter ended December 31, 99. The Company has reported that the sales for the quarter ended December 31, 2000 includes sales on account of large tender based export order. The growth in Sales over the previous period, for the quarter ended December 31, 2000 after excluding the effect of the said order is 14%. The Company has redeemed 2.5 million 12% Preference Shares of Rs 100 each amounting to Rs 250 million on November 14, 2000 out of profits otherwise available for dividend. The Board has declared and paid interim Preference Dividend at the rate of Rs 7.46 per share amounting to Rs 18.65 million. In addition, Rs 4.10 million has been paid as Income Tax on the interim preference Dividend.

GNFC plants in Gujarat unaffected by earthquake

In a communication to the BSE, Gujarat Narmada Valley Fertilizers Co. Ltd (GNFC) has reported that although state of Gujarat has become victim of the devastating natural calamity, the Plant and Machineries of the Company which are situated in the outskirts of city Bharuch have not been affected. All the Plants of the Company have been running smoothly and satisfactorily and there has been no loss/damage to any of the Plants and Machineries including the Buildings of the Company. There has been no disruption in the operations of any Plants of the Company.

SAIL Q3 net loss down by 74.67%

Steel Authority of India Ltd has posted a net loss of Rs 1776 million in the quarter ended December 31, 2000 as compared to net loss of Rs 7012.70 million in the same period last fiscal. Total Income is down by 9.53%, from Rs 38989.90 million in DQ 99 to Rs 35271.90 million in DQ 2000. The liability for the current period ended 31st December 31, 2000 has been provided on pro-rata basis based on estimated annual liabilities. Financial Restructuring scheme of SAIL approved by Government of India in February 2000, and accounted for in annual audited accounts of the Company for 1999-00 has resulted in lower depreciation and interest during the April to December 2000 as compared to corresponding period of previous year (Estimated at Rs 1880 million).

BSE advises members not to deal in securities of Kalyani Refineries

BSE has informed the members of the exchange that by an order of the Honourable High Court of Andhra Pradesh at Hyderabad, Kalyani Refineries Ltd has been wound-up. The members are advised not to deal in the securities of Kalyani Refineries Ltd. with effect from February 05, 2001.

United Western Bank Q3 net down by 53.49%

United Western Bank Ltd has reported a net profit of Rs 40.70 million in the quarter ended December 31, 2000 as compared to Rs 87.50 million in the quarter ended December 31, 99. Total Income stood at Rs 1173.90 million in DQ 2000 as compared to Rs 1211.20 million in DQ 99. Interest Expended has risen from Rs 725.20 million in DQ 99 to Rs 845.20 million in DQ 2000. The Results for the quarter ended December 31, 2000 have been arrived at after considering provision for NPA's, Bonus, Gratuity, Pension, Taxation and other usual and necessary provisions on pro-rata basis.

Electrosteel Castings Q3 net down by 67.99%

Electrosteel Castings Ltd has posted a net profit of Rs 71.90 million in the quarter ended December 31, 2000 as against Rs 224.60 million in the quarter ended December 31, 1999. Total Income for the quarter ended December 31, 2000 is lower at Rs 1046.50 million as compared to Rs 1209.90 million in the quarter ended December 31, 99. The Mini Blast Furnace of the Company was shut down from November 22, 2000 to January 02, 2001 for modification and re-lining.

Ceejay Finance Board to consider amalgamation with Heritage Packaging

The Board of Directors of Ceejay Finance Ltd has decided to consider the scheme of amalgamation / reorganization of the Company with Heritage Packaging Ltd. The Board of Directors of the Company will also obtain professional opinion on fair exchange ratio and other re-organisation plans.

Goetze (India) Board approves amalgamation of Federal Mogul Sintered

The Board of Directors of Goetze (India) Ltd has approved amalgamation of wholly owned subsidiary, Federal Mogul Sintered Products Ltd. with the Company. The aforesaid approval is subject to necessary approvals.

Subex Systems Board to grant stock options

The Board of Directors of Subex Systems Ltd has decided to grant 1,93,750 stock options to employees of the Company including those of Subex Technologies Inc., the wholly owned subsidiary of the Company.

TVS Electronics DQ 2000 net profit at 19.70 million

TVS Electronics Ltd has reported a net profit of Rs 19.70 million in the quarter ended December 31, 2000 as compared to Rs 2.50 million in the quarter ended December 31, 99. Sales rose from Rs 427.70 million in DQ 99 to Rs 589.60 million in DQ 2000, up by 37.85%. Other Income for the quarter ended December 31, 2000 is at Rs 9.40 million as compared to Rs 6.90 million in the same period last fiscal. Interest Expenditure rose from Rs 13.70 million in DQ 99 to Rs 24.60 million in DQ 2000.

Asian Hotels Q3 net down by 2.60%

Asian Hotels Ltd has posted a net profit of Rs 97.30 million in the quarter ended December 31, 2000 as compared to Rs 99.90 million in the quarter ended December 31, 1999. Total Income for the quarter ended December 31, 2000 is higher at Rs 331.60 million as compared to Rs 320.10 million in the quarter ended December 31, 99.

Mount Everest Board allots shares on preferential basis

The Board of Directors of Mount Everest Mineral Water Ltd. have allotted 6 million shares of Rs.10 each at par to the promoter of the Company Dr Dadi Balsara on preferential basis.

ICICI announces changes in the management structure

ICICI Limited has informed BSE that Shri Ajit Kumar and Shri G Krishnamurthy have resigned as Directors of the Company. In their place Shri P.G. Mankad, Secretary, Ministry of Industry, Dept. of Industrial Policy & Promotion, Govt. of India and Shri G. N. Bajpai, Chairman, LIC have been appointed as Directors. The appointment is with effect from January 25, 2001.

Gujarat Ambuja Q2 results on Jan 31, 2001

A meeting of the Board of Directors of Gujarat Ambuja Cements Ltd is scheduled to be held on January 31, 2001 to consider the Unaudited Financial Results of the Company for the quarter ended December 31, 2000.

Century Extrusions strike called off

Century Extrusions Ltd. has informed BSE that, pursuant to an agreement with workmen, the strike has been withdrawn. The normal production has resumed from January 27, 2001.

Essar Shipping Q3 net at Rs 200.30 million

Essar Shipping Ltd has posted a net profit of Rs 200.30 million in the quarter ended December 31, 2000 as against Rs 35.60 million in the same quarter last fiscal. Net Sales are up by 30.99%, from Rs 874.70 million in DQ 99 to Rs 1145.80 million in DQ 2000. Other Income for the quarter ended December 31, 2000 stood at Rs 26.50 million in DQ 2000 as compared to Rs 170.70 million in DQ 99. Other Income of Rs 170.70 million for the quarter ended December 31, 99 is higher on account of profit on sale of Assets amounting to Rs 155.80 million. With a view to restructuring the business of the Company, the Port and terminal Project at Vadinar has been transferred to a wholly owned subsidiary with effect from October 01, 2000.

Sun Infoways Q3 net profit at Rs 167.53 million

Sun Infoways Ltd has posted a net profit of Rs 167.53 million for the quarter ended December 31, 2000 as compared to a net loss of Rs 12.43 million in the corresponding period last fiscal. Total Income for DQ 2000 stood at Rs 621.49 million as compared to Rs 1.78 million in DQ 99. The acquisition of Zap Infotech in all sock deal valued Rs 4750 million has become effective on and w.e.f. 7th December 2000 Consequent upon acquisition Board has allotted shares under Section 81 (1A) of the Companies Act 1956 under SEBI Preferential Allotment Category Guidelines to the promoters of Zap Infotech. In view of acquisition Company would get access to nation wide Centers imparting advance and cutting edge technologies training 3SDC's, 2200 strong employees with different skill sets and US $35 million order book position. The Company has increased its focus on Australian, European and Japanese Market Keeping in view concentration of main line business of Telecommunication software including Wireless Technologies in these countries. The Company has an order book position of US $40 million.

KSB Pumps Q3 net at Rs 51.20 million

KSB Pumps Ltd has reported a net profit of Rs 51.20 million in the quarter ended December 31, 2000 as compared to Rs 14.20 million in the same period last fiscal. Sales are up by 21.81%, from Rs 511.30 million in DQ 99 to Rs 622.80 million in DQ 2000. Other Income for the quarter ended December 31, 2000 is at Rs 22.60 million as against Rs 19.90 million in the quarter ended December 31, 99. Other income includes compensation of Rs.166.80 million received under certain long term contracts. Depreciation is net of write back of Rs.42.50 million on account of compensation received under certain long contracts in respect of certain fixed assets. Staff cost includes compensation under Voluntary Retirement Scheme of Rs.34.90 million The Company has during the quarter executed orders for high value pumps. During the current quarter the Company has made an invested of Rs 1.496 million in equity shares capital of Pofran Engg Pvt Ltd and the latter has become subsidiary of the Company. The Company has paid on 16th January 2001 interim Dividend of 10% for the financial year ending March 31, 2001.

Orchid Chemicals Q3 net profit up by 1.76%

Orchid Chemicals & Pharmaceuticals Ltd has posted a net profit of Rs 81.36 million for the quarter ended December 31, 2000 as compared to Rs 79.95 million in DQ 99. Total Income for the quarter ended December 31, 2000 is at Rs 902.32 million as compared to Rs 854.18 million in the corresponding period last fiscal. Interest expenditure has fallen from Rs 84.76 million in DQ 99 to Rs 70.22 million in the quarter ended December 31, 2000.

Flex Chemicals Q3 net up by 280.32%

Flex Chemicals Ltd has posted a net profit of Rs 46.40 million for the quarter ended December 31, 2000 as compared to Rs 12.20 million in the corresponding period last year. Total Income for the quarter ended December 31, 2000 is at Rs 972/- million as compared to Rs 631.70 million in DQ 99.

Motherson Sumi Q3 net profit up by 12.45%

Motherson Sumi Systems Ltd has posted a net profit of Rs 42.18 million for the quarter ended December 31, 2000 as compared to Rs 37.51 million in the corresponding period last fiscal. Total Income for the quarter ended December 31, 2000 is at Rs 495.24 million as compared to Rs 345.85 million in the corresponding period last fiscal. The figures for the current quarter ended 31st December 2000 are not comparable with that of quarter ended December 1999 since the figures of Motherson Auto Components Engineering Ltd wholly owned subsidiary which is being merged into Company wef April 01,2000. The shareholders meeting convened by the Honble Delhi High Court has already approved merger and other formalities are being complied with.

Jaiprakash Industries Q3 net at Rs 363.60 million

Jaiprakash Industries Ltd has posted a net profit of Rs 363.60 million for the quarter ended December 31, 2000 as compared to Rs 91.80 million for the quarter ended December 31, 99. Net Sales for the quarter ended December 31, 2000 are at Rs 3206.20 million as compared to Rs 2504.30 million in DQ 99. Other income for the quarter ended December 31, 2000 is at Rs 59.40 million as against Rs 61.90 million in the corresponding period last fiscal. The Shareholders and Creditors of the company have approved the hiving off cement business of the company to its wholly owned subsidiary namely Jaypee Rewa Cement Ltd wef April 01, 2001. Necessary steps are being taken in the matter.

Zodiac Clothing Board approves taking over of Metropolitan Trg

The Board of Directors of Zodiac Clothing Co. Ltd, at its meeting held today (January 29, 2001) has given in principle approval to the Company for taking over the export business of Metropolitan Trading Company, a firm in which few Directors of the Company are interested. The Consideration in this case is to be determined by valuation experts.

Usha Martin enters into JV with E-Samsung, Virtuous Holdings

Usha Martin Infotech Ltd has informed BSE that the Company is entering into a joint venture agreement with E-Samsung India Ltd and Virtuous Holdings Ltd to form a new Company "Esamsung Umit Infotech Private Ltd" to deal in the field of software development. The agreement will be signed on January 30, 2001.

Porritts & Spencer gets new additional Director

Porritts & Spencer (Asia) Ltd has informed BSE that at the meeting of the Board of Directors of the Company held on January 29, 2001, Mr. James Edward Doherty has been appointed as Additional Director. The appointment is with effect from January 29, 2001.

Pradeep Metals allots preference shares to ICICI

Pradeep Metals Ltd has informed BSE that the Board of Directors of the Company has allotted 19,800 10% Optionally Convertible Preference Shares of Rs 100/- each to ICICI Ltd in the Board meeting held on January 17, 2001. The shareholders have already approved the issue in the Annual General Meeting held on November 14, 2000.

Raymond signs MOU with HGI Industries

Raymond Ltd has informed BSE that the Company has signed a Memorandum of Understanding with HGI Industries Ltd , Kolkata for acquisition of the Files Division. The acquisition is subject to the approval of the Board of Directors of the Company and the completion of satisfactory due diligence by the Company.

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