Bizbits

India Cements sales up 18

MUMBAI: India Cements Ltd8217;s ICL production and sales have increased by 16 per cent and 18 per cent respectively for the period April-December 8217;98 over the correspondingperiod of the previous year. According to a company press release, the company without including Raasi produced 25.94 lakh tonnes of cement compared to 22.38 lakh tonnes in the previous period. Sales increased to 26.10 lakh tonnes from 22.11 lakh tonnes. The combined production and sales including Raasi Cement was 38.45 lakh tonnes and 38.52 lakh tonnes respectively for the April-December period. December production and sales of ICL was also up by 57 per cent and 49 per cent respectively.

Gulf Oil8217;s net profit up 30

MUMBAI: Gulf Oil India registered a 30.3 per cent growth in profitability for the nine-month period ended December 1998 to Rs 7.01 crore Rs 5.38 crore. The turnover increased to Rs 176.75 crore from Rs 167.49 crore. The sales and profit in the third quarter were recorded at Rs 65.50 crore Rs 57.95 crore and Rs 2.94 crore Rs 2.32 crore respectively.