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Raymond Q1 loss up 67 pcNEW DELHI: Textile major Raymond Ltd has posted a 67 per cent surge in net loss during the first quarter of 1999-...

Raymond Q1 loss up 67 pc

NEW DELHI: Textile major Raymond Ltd has posted a 67 per cent surge in net loss during the first quarter of 1999-2000 to Rs 21.39 crore as against Rs 12.77 crore a year earlier. Net sales for the period was Rs 238.61 crore from Rs 235.81 crore a year ago while other income stood at Rs 2.04 crore. Total expenditure for the quarter was Rs 208.50 crore from Rs 205.85 crore last year. It made a provision of Rs 24.56 crore towards depreciation during the period.

Dena Bank8217;s net profit up marginally

MUMBAI: Dena Bank has reported a marginal 1.13 per cent increase in its net profit to Rs 34.05 crore in the first quarter of the current fiscal from Rs 33.67 crore in the corresponding quarter last year. The total income of the bank grew 11.8 per cent to Rs 430.43 crore in the quarter ended June 30, 1999 from Rs 385.04 crore.

NRB Bearings net up to Rs 2.39 cr

MUMBAI: The profit before tax of NRB Bearings for the first quarter of 1999-2000has gone up by 34.6 per cent to Rs 3.19 crore from Rs 2.37 crore same period last year. The net sales touched Rs 26.06 crore Rs 23 crore.The net profit has gone up to Rs 2.39 crore from Rs 1.64 crore, an increase of 45.7 per cent.

JK Corp losses up

NEW DELHI: JK Corp Ltd8217;s dismal financial performance has continued in the first quarter ended June 1999 with net loss increasing to Rs 42.15 crore from Rs 38.65 crore in the first quarter of previous year despite an increase in turnover to Rs 187.77 crore from Rs 158.34 crore.

The company suffered a net loss of Rs 169.53 crore on a turnover of Rs 663.48 crore during the year ended March 1999.

Bonfiglioli Group

MUMBAI: The Italian Bonfiglioli group market leader in the transmission group is planning to set up a manufacturing base in Chennai. The project to come up at a cost of Rs 35 crore in the Thirumudivakkam Industrial estate 10 kms off Chennai.

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The new company called Bonfiglioli Transmissions Private Ltd. would be a 100per cent subsidiary of the parent company. Initially the company will be manufacturing helical gears of a smaller size currently not made in the country.