Bizbits

Sun Pharma net up 53MUMBAI: The net profit of Sun Pharmaceutical Industries Ltd increased 53 per cent to Rs 22.79 crore for the second q...

Sun Pharma net up 53
MUMBAI: The net profit of Sun Pharmaceutical Industries Ltd increased 53 per cent to Rs 22.79 crore for the second quarter of 1999-2000 as against Rs 14.85 crore previously and turnover increased 36 per cent to Rs 112.88 crore from Rs 83.01 crore. Domestic formulation sales for the quarter was up 65 per cent to Rs 83.54 crore last year Rs 50.68 cr. For the first half, net profit increased 61 per cent to Rs 42.82 crore from Rs 26.67 crore and turnover increased 41 per cent to Rs 215.81 crore from Rs 152.84 crore. Domestic formulation sales, backed by internal growth and increasing acceptance of new specialty brands, were up 58 per cent to Rs 158.25 crore.

Nilkamal Plastics
MUMBAI: Nilkamal Plastics Ltd, India8217;s leading moulded plastic furniture and crates company, has posted an all-round improvement in its performance for the half year ended September 1999. The company8217;s turnover for the period under review is higher by 30 per cent at Rs 114.26 crore compared withRs 88.09 crore for the half year ended September 1998. After providing for depreciation Rs 5.59 crore Rs 4.47 crore, the net profit has increased by nearly 20 per cent to Rs 12.21 crore Rs 10.19 crore.

Leading Edge
MUMBAI: Leading Edge Systems has announced second quarter sales of Rs 16.564 crore, profits after direct cost gross profit under US GAAP of Rs 8.097 crore and net income of Rs 3.047 crore. This compares to 1st quarter revenues of Rs 16.203 crore, profits after direct cost of Rs 7.299 crore and net income of Rs 3.008 crore. Sales remained flat due to a continued slowdown in US spending on IT as companies continued to be preoccupied with Y2K issues and have deferred spending on new systems.

Hikal Chemical
MUMBAI: Hikal Chemical Industries has posted impressive results for the second quarter ended September 1999 of the financial year 1999-2000. It has reported net profit of Rs 4.05 crore on a turnover of Rs 25.73 crore. For the half year ended September 1999, it hasrecorded a net profit of Rs 7.60 crore on a turnover of Rs 49.08 crore. The results for the last three quarters shows consistent performance. It is expected that Hikal will be able to sustain this trend as the production at its new 100 per cent export oriented unit at Taloja has now been fully stabilised.

Finolex Cables
MUMBAI: Finolex Cables has once again posted impressive half-yearly results for the year 1999-2000. Sales and other income during the six months ended September registered a growth of 62 to reach Rs 243.3 crore as compared to Rs 150.2 crore in the same period of the previous year. Income from operations rose by a notable 66 per cent while non-operating income shows only a marginal change. Profit before tax for the half year stood at Rs 43 crore 8211; up by 107 per cent over Rs 20.8 crore recorded in the same period of the previous year.

MRO-Tek
MUMBAI: Bangalore-based MRO-Tek Ltd has entered into a strategic alliance with Globaloop Ltd, Israel, to market and distributetheir products in India. Globaloop, founded in 1997, is a provider of onsite internet access solutions, delivering cost-effective and practical solutions with innovative products. In a bid to further enhance its existing networking solutions, it is working with Extreme Networks Inc, USA to market and distribute their products.