Grasim Q1 net up 23.72%

Cipla Q1 net up 10.83%

MUMBAI: Cipla Ltd has posted a 10.83 per cent at Rs 67.2 crore for the first quarter ended June 30, 2003, compared to Rs 60.63 crore reported in the same period a year ago. The total income in the period under review was Rs 460.91 crore as against Rs 407.73 crore reported in Q1 of last fiscal, the company informed the Bombay Stock Exchange on Monday. For the fiscal ended March 31, 2003, the company’s net profit was higher by 5.37 per cent at Rs 247.74 crore. The board has also declared a dividend of Rs 10 per equity share for fiscal 2002-03.

M&M Q1 net up 450%

MUMBAI: Higher volume performance in auto sector and tight control on costs has led Mahindra & Mahindra Ltd (M&M) to post a 450 per cent jump in net profit at Rs 42.5 crore for the quarter ended June 30, 2003, compared to Rs 7.8 crore recorded in the same period previous fiscal. The board also approved a proposal to merge two subsidiaries — Mahindra Information Technology Services Ltd and Mahindra Eco Mobiles Ltd — with M&M with effect from July 1, 2003, the company said in a release on Monday.

Glaxosmithkline Q2 net up

MUMBAI: Glaxosmithkline Pharmaceuticals Ltd on Monday said it had posted a net profit of Rs 64.76 crore for the second quarter ended June 30, 2003, up 59.70 per cent from Rs 40.55 crore recorded in the same period a year ago. In a statement to the BSE, the company said its total income had increased from Rs 282.99 crore in the June quarter of 2002 to Rs 314.99 crore in the quarter ended June 30, 2003.

Indian Hotels Q1 up 86%

MUMBAI: Indian Hotels Company Ltd posted an 86.13 per cent increase in net profit at Rs 3.76 crore for the first quarter ended June 30, 2003, even as its board has approved sale of its lodge, Chiplun, for Rs 3.45 crore to Chiplun Hotel Private Ltd. The company had posted a net profit of Rs 2.02 crore in its first quarter of the previous fiscal, a company official said here.

Reliance Energy up 11%

MUMBAI: Reliance Energy on Monday reported a 11 per cent rise in its net profit for the quarter ended June 30, 2003, at Rs 88.2 crore as compared to Rs 79.19 crore during the same period previous fiscal and approved a merger of Reliance Energy Andhra Power Ltd with itself. The total income during the April-June quarter grew by 14 per cent at Rs 804.04 crore as compared to Rs 704.87 crore, a company release said. The merger of BAPL, which is subject to necessary approvals, would increase Reliance Energy’s asset base by Rs 650 crore and turnover by Rs 250 crore.

Shipping Corp Q1 net up

MUMBAI: Shipping Corporation of India Ltd (SCI) has registered a net profit of Rs 150.25 crore for the first quarter ended June 30, 2003, compared to a net loss of Rs 5.93 crore posted in the same period previous fiscal. The total income in the period under review has increased to Rs 784.91 crore as against Rs 530.48 crore recorded in Q1 of 2002-03. SCI chairman P.K. Srivastva said the market was good during this period and the company was able to deploy its vessels in profitable sectors.

Eicher Q1 net rises 13.2%

NEW DELHI: Commercial vehicle maker Eicher Motors said on Monday that its net profit increased by 13.2 per cent during the quarter ended June 30, 2003, due to higher income and reduction in interest cost. The net profit rose to Rs 6.08 crore from Rs 5.37 crore in the same period last year. Net sales went up by 21.8 per cent during the April-June quarter to Rs 149.92 crore from Rs 123.08 crore a year ago, a company statement said.

Gail net up 18%

NEW DELHI: Gas Authority of India Ltd (Gail) on Monday reported a 18 per cent increase in its net profit to Rs 365.09 crore in the first quarter ended June 30, 2003, as compared to a net profit of Rs 310.56 crore in the same period last year. Sales rose by around 12 per cent to Rs 2,923.18 crore in April-June as against Rs 2,620.7 crore in the corresponding period of the previous fiscal, the company stated.

Polaris Soft net at Rs 173.30m

NEW DELHI: Polaris Software Lab Ltd has posted a net profit of Rs 173.30 million for the quarter ended June 30, 2003 as compared to Rs 136.90 million for the quarter ended June 30, 2002. Total income has increased from Rs 684.58 million in the JQ-02 to Rs 1397.51 million in the quarter ended June 30, 2003.

Unichem net up by 10.6 per cent

MUMBAI: Unichem Laboratories Ltd has posted a 10.6 per cent rise in its net profit for Q1 ending June 30, 2003, at Rs 10.41 crore as compared to Rs 9.41 lakh for the same period last year. Sales turnover for the period under review grew by 13.1 per cent to Rs 94.99 crore as against Rs 84.01 crore in the first quarter of previous fiscal, a company release said on Monday.

BoI Q1 net up 15.11 per cent

MUMBAI: Bank of India (BoI) has reported a 15.11 per cent rise in net profit at Rs 203.92 crore for the first quarter ended June 30, 2003, compared to Rs 177.15 crore posted in the same period previous fiscal. The total income in the period under review increased to Rs 1,771.82 crore as against Rs 1,698.55 crore recorded in Q1 of 2002-03. The bank in a statement said treasury continued to remain very active contributing significantly to the bottomline.

LICHF Q1 net at Rs 33.95cr

MUMBAI: LIC Housing Finance Ltd’s (LICHF) net profit was almost flat at Rs 33.95 crore for the first quarter ended June 30, 2003, compared to Rs 33.59 crore posted in the same period previous fiscal. The total income during the period under review has increased to Rs 230.04 crore as against Rs 219.6 crore recorded in Q1 of last fiscal, an LICHF release stated.

Nirma Q1 net up 32 per cent

MUMBAI: Nirma Ltd has posted a net profit of Rs 59.98 crore for the first quarter ended June 30, 2003, up 31.96 per cent from Rs 45.45 crore recorded in the same period a year ago. The total income rose from Rs 555.59 crore in the June quarter of 2002 to Rs 576.32 crore in the June quarter of 2003.

Lml cuts Q1 net loss

NEW DELHI: Two-Wheeler maker LML has reduced its net loss by nearly one-fifth during the quarter ended June 30, 2003, following a 147 per cent surge in net sales. The company brought down its net loss to Rs 5.30 crore during the April-June quarter from Rs 25.22 crore a year ago. Net sales soared to Rs 207.21 crore year-on-year from Rs 83.86 crore, according to LML’s unaudited financial results released on Monday.

Sun Pharma net up 13.7%

MUMBAI: Sun Pharmaceuticals Industries Ltd has reported a 13.77 per cent rise in net profit at Rs 54.69 crore for the first quarter ended June 30, 2003, compared to Rs 48.07 crore posted in the same period previous fiscal. The total income in the period under review increased to Rs 216.38 crore as against Rs 192.03 crore registered in Q1 of last year, the company informed the Bombay Stock Exchange on Monday.

Apollo Tyres dividend at 45%

KOCHI: Tyre major Apollo Tyres Ltd (ATL), which recorded a turnover of over Rs 2,000 crore for the 2002-2003 fiscal, on Monday declared a 45 per cent dividend, company CMD Onkar S. Kanwar said. The company had set a growth target of 20 per cent this year, with ATL already achieving 15 per cent growth in the first quarter this fiscal, Kanwar added.

Tata Coffee net up 96 per cent

NEW DELHI: Tata Coffee on Monday reported a 96 per cent increase in its net profit in first quarter of 2003-04 to Rs 2.99 crore from 1.52 crore in the corresponding period of last year. Tata Coffee’s turnover has, however, fallen by 5 per cent during the quarter to Rs 32.93 crore from Rs 34.69 crore in April-June, 2002, a company release stated.