Jindal Drilling posts Rs 14cr net
Jindal Drilling and Industries has reported a net profit of Rs 14 crore for the fiscal year ended March 31, 2000. The company achieved a turnover of Rs 190 crore as against Rs 158 crore in the previous year. It earned a profit before tax of Rs 20 crore, a company statement said. The company, having a share capital of Rs 4.5 crore, had approved an interim dividend of 25 per cent on its shares for the financial year 1999-2000, payable in may, 2000.Melstar turnover jumps
Melstar Information Technologies' total revenues for the year stood at Rs 43.01 crore (Rs 35.20 crore) while operating income recorded a sharp increase of 444 per cent to Rs 14.44 crore (Rs 2.65 crore). Software sales for the year grew by 71 per cent to Rs 30.94 crore (Rs 17.99 crore) and accounted for a major portion of the revenues, in keeping with the company's strategy to focus on software business.
No divestment in Idcol Cement
The Board for Industrial and Financial Reconstruction has rejected a proposal by Orissa government to make strategic disinvestment in Idcol Cements while sanctioning a Rs 152 crore revival scheme for the sick company. A two-member bench, comprising members NP Banerji and NP Bagchee, said the request for strategic divestment would be considered after the accumulated losses of Idcol Cements were wiped out.
IA flights to Nepal
Indian Airlines will not resume flights to Nepal unless authorities there ensure tight security, junior minister for civil aviation Chaman Lal Gupta said in Bangalore.
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