MUMBAI: Tata Electric Companies has recorded lower sales income and a marginally higher net profit for the six months ending September 30, 1998 as against the previous corresponding period.

The total income from sale of power of the three companies, Tata Power, Andhra Valley Power Supply and Tata Hydro-Electric, has decreased during the half yearly period under review from Rs 1228.22 crore to Rs 1208.36 crore. However, the company has registered a marginal increase in net profit to Rs 183.77 crore from Rs 177.94 crore in the previous year. Total expenditure of the three power companies has reduced from Rs 922.78 crore to Rs 870.81 crore leading to an improved gross profit (profit after interest) at Rs 353. 96 crore as against Rs 345.95 crore, last year.

IDBI reports increase in profit

MUMBAI: Industrial Development Bank of India (IDBI) has reported increased net profit of Rs 705 crore in the first half of 1998-99, against Rs 689 crore in the same period lastyear.

IDBI'S net profit for the second quarter ended September 30, 1998 was, however, down to Rs 343 crore compared to Rs 364 crore in the corresponding quarter of previous year. Income from operations was up to Rs 3,623 crore in April-September 1998 against Rs 3,301 crore in the same period last year.

IDBI's gross profit was also down to Rs 889 crore in the first half compared to Rs 940 crore in the same period of previous year.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.

HPCL H1 net up by 25%

MUMBAI: Oil major, Hindustan Petroleum Corporation Ltd (HPCL) has recorded a net profit of Rs 435.44 crore during the first half of the current fiscal, showing a 25.47 per cent increase over corresponding period last year.

The turnover of the company has increased by 28.75 per cent to Rs 12,429 crore from last year's Rs 9,653 crore during first half of the fiscal, a company statement said here today.

Raymond net up

MUMBAI: The net income of Raymond Ltd has increased by6.7 per cent to Rs 613.05 crore for half year ended September 1998 (Rs 574.54 crore). Gross profit increased by 44 per cent to Rs 83.02 crore (Rs 58.10 crore). After provison for tax of Rs 4.15 crore (Rs 1.97 crore) and previous year adjustments, net profit rose by 121 per cent to Rs 35.19 crore (Rs 15.90 crore).

Procter & Gamble

MUMBAI: The net profit of Procter & Gamble India climbed by 31 per cent to Rs 14.18 crore during the first quarter ended September 1998 from Rs 10.80 crore same period last year.The company achieved sales of Rs 117.76 crore (Rs 107.19 crore),a growth of 10 per cent.The gross profit at Rs 22.87 crore has grown by 34 per cent,up from Rs 17.07 crore same period last year.

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