Return
to Story Page
To print: Select File and then Print from your
browser's menu
FE NEWS SERVICE
Kinetic Honda Q2 sales up: The Pune-based Kinetic Honda Motors, a joint venture between Kinetic Engineering Ltd and Honda Motors, has recorded an increase in sales and seen a turnaround in profit in the second quarter compared to the first quarter of the current financial year. Sales was up from Rs 51.54 crore (first quarter) to Rs 92.49 crore and from a net loss of Rs 5.93 crore in the previous quarter to a profit of Rs 2.3 crore in the second quarter.
Interest cost was also lower at Rs 1.12 crore, against Rs 2.04 crore in the first quarter, a release said in Pune on Thursday.
Kinetic Engineering Q2 net jumps to Rs 4 crore: Two-wheeler major Kinetic Engineering Ltd has posted a 20 per cent increase in turnover and 19 per cent growth in profits in the quarter ending September 30, 1998. Gross profit rose 20.15 per cent to Rs 8.47 crore from Rs 7.05 crore. Net profit was up 19 per cent to Rs 4.05 crore, as compared with the corresponding period last year.
Jindal Iron net slumps to Rs 7crore: Jindal Iron & Steel Company Ltd has posted a lower net profit of Rs 7.44 crore during the first six months ended September 30, 1998 as compared with Rs 20.18 crore in the same period last year. Net sales rose to Rs 471.52 crore from Rs 421.92 crore. Gross profit before interest depreciation and taxation was at Rs 63.16 crore as compared with Rs 59.99 crore. Interest & finance charges stood at Rs 34.71 crore. Depreciation stood at Rs 20.14 crore as compared with Rs 17.38 crore.
KSB Pumps net dips to Rs 8 crore: KSB Pumps has recorded a lower net profit at Rs 7.58 crore for the half year ended September 30, 1998. However, turnover rose to Rs 100.92 crore from Rs 84.67 crore. The profit before tax after providing for interest stood at Rs 2.36 crore as compared with Rs 3.02 crore. The company has declared an interim dividend of Re 1 per share.
Central Pulp posts Rs 1 cr net: Central Pulp Mills, a JK group company, has recorded a turnover of Rs 28.81 crore and net profit of Rs 1.07crore for the first quarter ended September 30. The company's operating profit before interest and depreciation stood at Rs 5.02 crore. The company's production went up by 7.5 per cent compared with the previous year. According to a release, the profit could have been higher but for the sluggish market conditions resulting in lower sales realisation.
JCT turnover up 27% in Q2: The MM Thapar-controlled JCT Ltd has reduced its losses to Rs 14.29 crore in the second quarter of the current fiscal as against Rs 35.81 crore in the corresponding period in 1997-98. The company has also seen a 27 per cent rise in its turnover to Rs 255.01 crore in the second quarter of the current year. In the same period last fiscal, JCT had recorded a turnover of Rs 200.91 crore. Significantly, JCT has made a cash profit of Rs 44 lakh during the second quarter of 1998-99. The company had recorded a cash loss of Rs 22.13 crore in the corresponding period during the last fiscal. Interest burden has gone down from Rs 30.67crore in the second quarter of 1997-98 to Rs 23.75 crore in the second quarter this year.
Eicher net dips to Rs 13 cr: Eicher Ltd, flagship of the Eicher group, has posted a drop of over 17 per cent in its net profit at Rs 12.98 crore on a higher turnover of Rs 303.78 crore for the first half of the current fiscal. Eicher's net profit stood at Rs 15.75 crore for the same period the previous year. The company's turnover during the period recorded an increase of 3 per cent as against Rs 394.3 crore in the first half in 1997. The profit before interest and depreciation is Rs 23 crore, and the net interest increased from Rs 2.64 crore to Rs 4.22 crore. The company's interest outgo increased from Rs 2.64 crore to Rs 4.22 crore.
Nirma H1 sales jump: Ahmedabad-based soap and detergent major Nirma Ltd has registered gross sales of Rs 652.43 crore during the six months ended September 30, an increase of 19.51 per cent over Rs 545.93 crore posted during the same period last year. The company alsoposted profit before depreciation, interest and tax (PBDIT) of Rs 117.7 crore in the first, up by 29 per cent from Rs 86.59 crore last year, despite economic downturn witnessed by the country. However, according to a company spokesman, higher depreciation charges due to the commissioning of the LAB plant at Alindra near Baroda in January this year and inter-divisional sales, resulted in marginal decline in net profit by 3.39 per cent to Rs 69.06 crore as against Rs 71.48 crore.
TTK Prestige H1 net up: TTK Prestige Ltd has reported a net profit of Rs 4.55 crore during the first six months ended September 30, 1998 as against Rs 1.29 crore posted during the corresponding period of the previous fiscal. Net sales during the period stands at Rs 71.03 crore (Rs 44.37 crore). Total expenditure of TTK Prestige during the first half in the current fiscal was Rs 63.89 crore (Rs 42.63 crore).
Jay Shree Tea net rises 21.71 per cent: Jay Shree Tea Co Ltd has reported 21.71 per cent increase in its netprofit for the first half to September 30, 1998. It is Rs 20.57 crore against Rs 16.90 crore in the same period previous year. Net sales increased by 1.5 per cent over the same period to Rs 112.01 crore against Rs 110.33 crore the last fiscal. The first-half operating profit was at Rs 30.98 crore (Rs 26.95 crore). The company issued 1:1 bonus shares to shareholders.
Oriental Bank's operating profit jumps: The Oriental Bank of Commerce has announced a 27.7 per cent jump in operating profit for the first half of 1998-99. The bank has announced an operating profit of Rs 205 crore for April-September 1998, the figure for the corresponding period last year was Rs 160.52 crore. The bank's deposits during the six-month period grew to Rs 14,534 crore, up from Rs 11,000 crore in the first half of 1997-98. And advances have touched Rs 6,905 crore up from Rs 5,081 crore. The bank's total business stands at Rs 21,400 crore. The bank's NPA currently stands at 4.5 per cent and its capital adequacy stands at 15.28per cent. The bank's capital and reserves stand at Rs 1,082.48 crore, up from Rs 941.39 crore at the end of March, 1998.
BHEL net increases 13 per cent: The state owned Bharat Heavy Electricals limited (BHEL) has registered a 13 per cent growth at Rs 132.48 crore in its net profit in the first six months of the current financial year compared to Rs 117 crore in the same period of the previous year. Sales turnover increased to Rs. 2367.1 crore during the first six months of the current fiscal, compared to Rs. 2305.21 crore in the same period of the previous year. The company's other income increased by 70 per cent from Rs 122.73 crore to Rs 209.05 crore in the first half of 1998-99. As per the BHEL's release, the gross profit increase was recorded at 14 per cent at Rs. 280.71 crore as against Rs. 244.70 crore in the corresponding period last year.
Tube Investments clocks Rs 327 cr turnover: Tube Investments of India Ltd, the Murugappa group company has recorded a turnover of Rs 327.16 crorefor the first half of the financial year 1998-99. The turnover has grown by 9.5 per cent over the Rs 298.8 crore turnover in the corresponding period last year. Other income increased from Rs 2.27 crore to Rs 2.98 crore. Interest costs also increased by 6.6 per cent to Rs 11.11 crore from Rs 10.42 crore. Net profit increased by 53 per cent to Rs 9.79 crore from Rs 6.39 crore last year. The company has provided Rs 2.52 crore for the voluntary retirement scheme and after the provision for this extra-ordinary item and the taxation, the net profit stands at Rs 6.5 crore as against Rs 5.72 crore last year.
Raasi net falls to Rs 13 crore: Raasi Cements Ltd has registered a 40 per cent fall in its bottomline on a turnover which declined by 13 per cent. The net profit was Rs 12.55 crore compared to Rs 21.22 crore in the corresponding period of the previous year. For the first six months of current fiscal 1998-99, the company has posted a sales of Rs 187.76 crore (Rs 216.82). Operating profit margins werelower at 13.21 per cent (15.44 per cent) on account of poor realisation in Andhra Pradesh where the company sells its product predominantly. Interest costs were more or less maintained at Rs 8.22 crore (Rs 8.21 crore) while depreciation was Rs 4.03 crore (Rs 4.05 crore).
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
------------------------------------------------------------
This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
------------------------------------------------------------