Bizbits

Ceat pays 20% dividendMUMBAI: Ceat Ltd, the RPG tyre major, has recorded a more than 100 per cent growth in net profits to Rs 13.75 crore fo...

Ceat pays 20% dividend

MUMBAI: Ceat Ltd, the RPG tyre major, has recorded a more than 100 per cent growth in net profits to Rs 13.75 crore for the year ended March 1998 from Rs 6.6 crore in the previous year and maintained the dividend at Rs 2 per share. The company, however, registered a marginal increase in sales at Rs 961.90 crore compared to Rs 948.48 crore, while the gross profit before depreciation and taxes rose to Rs 27.10 crore from Rs 19.49 crore last year.

JK Industries

MUMBAI: The sales J K Industries during the 15-month period ended March 1998 have grown to Rs 1,553.54 crore, an increase of 17.3 per cent on an annualised basis over the previous year. Operating profit at Rs 206.40 crore records 39 per cent growth on an annualised basis. The net profit after tax amounted to Rs 26.07 crore. The directors have declared a final dividend of 22.5 per cent. With an interim dividend of 15 per cent already paid, the total dividend for the period is 37.5 per cent.

VSNL-IBM

MUMBAI:Videshi Sanchar Nigam Ltd (VSNL) and IBM Global Services India have expanded the network services portfolio in India by now introducing IBM MDNS for remote access (IP Dial) on IBM Global Network infrastructure. This services is now available from Mumbai and will shortly be available from Delhi and Bangalore as well. IBM MDNS relieves companies from the task of building and operating their own networks to meet their communication needs, allowing them to focus on their core business. IBM MDNS comprises remote access and word wide areas network (leased online).