Bizbits

Shree Krishna posts Rs 24.58 cr net

MUMBAI: Shree Krishna Polyester has reported a net profit of Rs 24.58 crore for the three months ended June 1999, up 21.6 per cent as compared to the corresponding period of last year. The company, the flagship of the Shree Krishna group, recorded net sales of Rs 153.1 crore for the three months, posting a 13.5 per cent increase over the first quarter of the previous year. The company has announced a dividend of 18 per centfor the year ended March 1999.

Lulu centre comes to Sharjah

MUMBAI: Sharjah Chairman of Industries Sheikh Khalid Bin Abdulla Bin Sultan Al Qasimi recently inaugurated the new branch of Lulu chain of departmant stores at Rolla in Sharjah. Lulu Centre is well-known among shoppers in the UAE through its two outlets in Abu Dhabi and one each in Dubai and Al Ain.

Redrock acquires stake in Weikfield

MUMBAI: Redrock Ltd, a Jebel Ali Free Zone based company, which manufactures a range of products of Dabur India as a licensee, has acquired a controlling stake in the Sharjah-based Weikfield International through an equity buy-out. Weikfield is a consumer products company making a wide range of products.