Tata Yodogawa has earned higher profit after tax of Rs 5.35 crore for 1998-99 than Rs 4.29 crore in the previous year despite difficult conditions in the steel industry and slowdown in the economy. The company increased its turnover to Rs 76.28 crore from Rs 73.51 crore. However, the profit before tax was lower at Rs 6.92 crore against Rs 7.08 crore as depreciation claimed a higher amount of Rs 4.66 crore against Rs 4.38 crore. The board of directors recommended dividend at the rate of 32.5 per cent. The dividend outgo will absort Rs 1.97 crore, a company release said.

Nilkamal Net profit zooms 73%

Nilkamal Plastics Ltd has fared well for the year ended March 31,1999, with gross sales registering a growth of 48 per cent and net profit spurting by 73 per cent. The board of directors of Nilkamal has recommended a final dividend of 20 per cent, which alongwith the itnerim dividend of 20 per cent paid earlier, takes the total to 40 per cent for 1998-99. Its otherincome stands at Rs 22.17 lakh (Rs 19.27 lakh) after taking into account total expenditure of Rs 164.70 crore (Rs 113.40 crore) and interest of Rs 9.80 crore (Rs 6.73 crore), the gross profit jumped by 64 per cent to Rs 31.97 crore (Rs 19.48 crore).

Himachal Futuristic net up 155%

The board of directors of telecommunication equipment major Himachal Futuristic Communications Ltd (HFCL) on Monday announced a 10 per cent dividend for 1998-99 having registered a 155 per cent surge in net profit during the period. Its net profit in the financial year stood at Rs 35.9 crore as against Rs 14.1 crore a year ago. Sales in 1998-99 were at Rs 392 crore, up 117 per cent from Rs 181 crore a year ago. HFCL's other income during the year was Rs 16.20 crore while total expenditure was Rs 330.81 crore.

Trident Cochin inaugurated

A 96-room hotel, the Trident Cochin, will open on Tuesday, marking the Oberoi group's entry into the state of Kerala. Located on Willingdon island, the Trident Cochin is a shortdistance from the airport. "Kerala is a state endowed with immense scenic beauty and a rich cultural heritage making it an ideal destination for tourists. The opening of the Trident, Cochin, consolidates and strengthens the Oberoi group's presence in south," said Oberoi group president Ravi Bhoothalingam.

HOCL sets up R&D panel

In a bid to leverage its research and development (R&D) capability, the public sector `mini ratna', Hindustan Organic Chemicals Ltd (HOCL) has set up a sub-committee to give new direction to in-house research and technology development. "The formation of this sub-committee follows the reconstitution of HOCL board by inducting three non-official members as per the terms of its mini-ratna status," a company statement said on Monday.

Carrier appoints managing director

The board of directors of Carrier Aircon Ltd on Monday announced the appointment of Anil Srivastava as managing director of Carrier Aircon Ltd effective July one. He succeeds Stephen S Young who will bejoining Carrier refrigeration operations in the US. Srivastava is currently the managing director of Delphi Automotive India. He played a vital role in both the establishment and growth of Carrier Aircon before he joined the Delphi Automotive Organisation in 1966.