Bizbits — Ingersoll pays 45%

MUMBAI -- The directors of Ingersoll-Rand have stepped up the dividend to 45 per cent for the year ended March 1997 against 40 per cent. Th...

MUMBAI — The directors of Ingersoll-Rand have stepped up the dividend to 45 per cent for the year ended March 1997 against 40 per cent. The total income amounted to Rs 335.49 crore (Rs 282.99 crore). It has earned a net profit of Rs 34.66 crore against Rs 14.22 crore last year.

Dhanvarsha

MUMBAI — The launch of Dhanvarsha (10), the new monthly Income Scheme of LIC Mutual Fund, which was scheduled for July 7,1997 has been deffered under unavoidable circumstances. LIC Mutual Fund will announce the fresh date of the opening of the scheme in due course.

Sun F & C

MUMBAI — India Performance Fund, managed by Sun F & C Asset Management (I) Pvt Ltd has recorded an appreciation of 43 per cent since Janaury 1997. One of the first offshore funds to be set up by a domestic asset management company, this fund is an open-end equity fund and has consistently outperformed the BSE $ Index.

Fancy Fittings

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MUMBAI — The directors of Fancy Fittings have recommended a dividend of 20 per cent for the year ended March 1997.The sales turnover amounted to Rs 644.50 lakh (Rs 465.25 lakh). It has earned a gross profit before interest of Rs 184.55 lakh (Rs 219.11 lakh) and a net profit of Rs 154.81 lakh (Rs 132.17 lakh).

J L Morison

MUMBAI — J L Morison (India) has maintained the dividend at 22.5 per cent for the year ended March 1997.Sales turnover is higher by 12 per cent at Rs 42.61 crore against Rs 37.98 crore. The profit before tax is marginally higher at Rs 1.16 crore against Rs 1.09 crore last year.SPL fares well

MUMBAI — SPL Ltd (formerly Somany Pilkington’s Ltd) has registered a sales turnover of Rs 113.81 crore (Rs 102.75 crore in the previous year) and a gross profit of Rs 17.68 crore for the year ended March 1997. The net profit has amounted to Rs 10.36 crore. The EPS stands at Rs 15.01. “The company plans to move away from the volume market of producing plain vanilla tiles to high fashion designer tiles at the premium end of the market,” said Shreekant Somany, MD.

NRB Bearings

MUMBAI — THE sales of NRB Bearings amounted to Rs 115.10 crore during the year ended March 1997 against Rs 92.90 crore last year.The net profit up by 57 per cent to Rs 18.95 crore from Rs 12.07 crore.

CyberTech Sys

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MUMBAI — CYBERTECH Systems and Software is on the threshold of major expansion. Recently, the company has a taken a new place at Thane. It has posted a growth of 472% from Rs 1.3 cr turnover in the first year to Rs 7.5 cr during 1996-97.