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The net sales of Cummins India Limited for the quarter,ended June 30,2010,were Rs 910 crores,an increase of 45% compared to the same period last year. Domestic sales grew 31%...

Cummins India net profit up 58%

The net sales of Cummins India Limited for the quarter,ended June 30,2010,were Rs 910 crores,an increase of 45% compared to the same period last year. Domestic sales grew 31% as compared to the same period last year. Exports recovered sharply with a 130% growth as compared to last year when sales had plummeted owing to the global slowdown. Net profit before tax in the first quarter rose 58% to Rs 197.4 crores as compared to Rs 124.6 crores in the same period last year. Anant J Talaulicar,chairman and managing director,Cummins India Limited,said,We had taken full advantage of the slowdown by accelerating our Six Sigma based focus on waste reduction,process improvements and value engineering. Thus,we further strengthened our balance sheet. We had also continued to invest in new products and manufacturing capacities,albeit at a slower pace. We therefore feel good about our results this quarter. We have since enhanced our investment in people,processes,new products and supply chain capacities to enhance our leadership.

Cipla to launch 100 healthcare products

PHARMACEUTICAL major Cipla is coming out with 100 healthcare products soon. Ciplas sister concern Lamar Natural Products Pvt Ltd has entered into a tie-up with Eva Bio Trade X Pvt Ltd,who will be the marketing partner for the products in India.

Addressing a press conference here on Wednesday,Asok Naik,manager sales,Cipla,said about 50 products would be launched in the market within two days. Our Ayurvedic products were bought out by Lamar and in another two years,it will be also known by the name Cipla. This is the first time we are entering into a JV to market our products, he said.

Prashant Chaudhary,director,Eva Bio Trade X,said target for the first year of operation would be Rs 100 crore.

The products include wet wipes,Cipbane for sore throat,anti-diabetic capsules and pain-relief spray.

BoM pays Rs 66 crore as dividend in fiscal

BANK of Maharashtra,a nationalised bank in which the Government of India holds 76.77% of equity,paid Rs 66.10 crore (at the rate of Rs 2 per share ie,20%) as dividend for the Financial Year ended March 31,2010,said a press release. Allen C A Pereira,chairman and managing director,handed over the dividend cheque to Union Finance Minister Pranab Mukherjee at a function at his North Block office in New Delhi in July. M G Sanghvi,executive director of the Bank,V P Bhardwaj,director on the Board,and M C Goyal,general manager-Delhi Region were present.

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