MUMBAI: The net profit of Kotak Mahindra Finance at Rs 13.58 crore during the six-month period ended September 1997 is lower by 13 per cent from Rs 15.66 crore in the same period of last year on account of a higher tax provision of Rs 5 crore (Rs 1.5 crore). The income of the company has moved up to Rs 167.76 crore from Rs 159.81 crore, a rise of 4 per cent and operating profit (profit before povision for non-performing assets) has moved up to Rs 30.56 crore from Rs 22.51 crore, a rise of 35 per cent.

Commodity markets closed

MUMBAI: The principal commodity markets including oilseeds, sugar, metals, spices and cotton observed a bandh on Tuesday in protest against the proposed imposition of the five per cent service tax on transporters by the centre. Consequently, there was no trading and almost all traders dealing in these commodities were closed.

Alfa Laval continues to be in red

MUMBAI: Alfa Laval (India) Ltd has recorded a turnover of Rs 75 crore for the six-month period ended Septemeber 1997. This is an increase of 28 per cent over the same period last year. However, the net loss for six months was Rs 6 crore compared to Rs 13.2 crore in corresponding period of last year.

Raymond net profit rises by 13.5%

MUMBAI: Raymond has reported an increase in net sales for the half year ended September 1997 by 27.4 per cent from Rs 451 crore to Rs 575 crore. Gross profit before interest was higher by 21.71 per cent at Rs 108.11 crore (Rs 88.83 crore). The net profit rose by 13.5 per cent to Rs 15.90 crore (Rs 14.01 crore).

ITC Bhadrachalam profits drop

MUMBAI: The net profit of ITC Bhadrachalam Paperboards has dropped to Rs 4.91 crore during the six months period ended September 1997. The net sales amounted to Rs 109.45 crore against Rs 116.31 crore.It has earned a lower gross profit of Rs 11.70 crore .

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