Himatsingka Seide net up 37%MUMBAI: Silk fabric exporter Himatsingka Seide Ltd has posted a 37 per cent increase in net profits in the first half of the current fiscal to Rs 18.07 crore, while its turnover reflected a 43 per cent growth to Rs 54.52 crore. The Bangalore-based company has also declared an interim dividend of 25 per cent on post-bonus equity. Managing director Dinesh Himatsingka said the company's blended silk yarn manufacturing division had improved its yarn production capacity to 63 tonnes in the first half of 1999-2000 compared to 55 tonnes produced in the 12-year period ended March 31, 1999. The fabrics division consumed 16 per cent of the yarn production, while the remaining was marketed overseas, he said, adding that he was also looking at expanding the customers base by tapping markets in Turkey, Taiwan and Hong Kong. Operating profits improved 32 per cent to Rs 23.40 crore from Rs 17.68 crore in the corresponding period last year, while operating margins stood at 42.9per cent.Cadbury's net profit rise 31.6 pcMUMBAI: CADBURY India Ltd's net profit has increased by 31.6 per cent to Rs 13.62 crore, while the sales for the third quarter ended October 10, 1999 rose to Rs 166.77 crore as against Rs 147.46 crore in the corresponding period last year. For the nine month period, it has recorded an increase of42 per cent in its net profit at Rs 28.86 crore on a 17 per cent increase in sales at Rs 377.27 crore compared to the corresponding period last year. Other income for the reporting quarter, which includes profit on sale of surplus land, shot up by a whopping 437% at Rs 306 crore (Rs 57 crore). Gross profit after interest but before depreciation and taxation was Rs 26.54 crore (Rs 20.79 crore) and depreciation was Rs 6.33 crore (Rs 6.01 crore). Cadbury's recorded a profit before tax of Rs 20.21 crore (Rs 14.78 crore). Gremach's new core equipment bankMUMBAI: GREMACH Commerce Ltd has launched an equipment bank at a cost of Rs 10 crorefor promoting infrastructure in the country. Speaking in a seminar, the vice chairman and MD of Gremach Commerce said that the company plans to transfer Rs 10 crore of equipment to Infrastructure Equipment Bank and will acquire Rs 90 crore of equipment from the markets from the existing resources in the first year and Rs 500 crore in second year, thus saving new imports of infrastructure equipment for the country.
