Tags:
Journalism of Courage
Aarti Drugs pays 11
MUMBAI: Aarti Drugs has recorded a gross sales turnover of Rs 124 crore Rs 99 crore for the year ended March 1998, a growth of 25 per cent. The corresponding net profit has almost doubled to Rs 4.36 crore Rs 2.22 crore. Export sales for the year aggregated Rs 56 crore Rs 42 crore. The directors have announced a dividend of 11 per cent on the enhanced capital of Rs 13 crore after the 1:2 bonus issue.
Mormugao Port
MUMBAI: Mormugao Port Trust MPT has been awarded a special commendation certificate by the Ministry of Surface Transport for being the only port in the country to introduce the Best reporting system and introduction of new productivity parameters at the port in improving port performancequot; as part of the Ministry8217;s Operation Decongestion of Major ports8217; Drive launched for six months from September 1, 1997 to February 28, 1998.
Datamatics
MUMBAI: The software development facility set up by Mumbai-based IT major Datamatics Ltd and dedicated to British Airways8217; software requirements was inaugurated by the airline8217;s On-Tyne Systmes Manager Chris Milner recently. Datamatics is a preferred partner of British Airways from India and is currently executing three major software projects for the airline. The centre is equipped with the latest Pentium machines and is linked with the British Airways facilites in the UK through a dedicated 64 KBPS frame relay network.
Modern loans
MUMBAI: The Modern group has clarified that the quantum of overdue interest to financial institutions was Rs 185 crore while the overdue principal was Rs 196 crore and not Rs 715 crore as reported earlier. 8220;FIs have agreedto convert these amounts into OFCD and NCD respectively,8221; said S N Todi, president, Modern group. Moreover, the group8217;s consultant has recommended divestment of stake in Modern Denim in order to shore up the group8217;s resources. Jardine Fleming has been given the mandate to accomplish this assignment.
Gupte dead
MUMBAI: D G Gupte, who was a director on the advisory board of Citibank and the board of Nagarjuna Finance, passed away on Saturday due to cardiac arrest. His body was cremated on Saturday evening. Gupte, 68, was the Financial Editor of The Times of India and also served with the Reserve Bank of India RBI.
Steelage Indus
MUMBAI: Steelage Industries, a Turner Morrison group company has posted a 45 per cent jump in its profits before tax which have risen to Rs 435 lakh for 1997-98. The net profit has moved up by 28 per cent to Rs 330 lakh. The revenue has also gone up to Rs 65.14 crore, up by 18.67 per cent over the previous year.
Godrej amp; Boyce
MUMBAI: Godrejamp; Boyce Mfg Co, a leading market player in security equipment business, has launched fire alarm systems in the Indian market. This product designed to operate effectively in Indian conditions. The system comes with an intelligent control panel which gives an indication of the alarm condition at any specific location and can be interfaced with a public address system and a talk back system to effectively convey information in case of a fire.
