BSES profits rise marginally, ONGC net jumps 103%

ONGC PROFIT UP: Oil and Natural Gas Corporation Ltd (ONGC)has reported a 103 per cent jump in net profits in the third quarter of the current fiscal at Rs 1,261 crore compared to Rs 621 crore in the same period last year. Sales revenue of the company also shot up by 56 per cent to Rs 6,262 crore for the quarter ended December 31, from Rs 4,007 crore in the same period last year, a company statement said.

During this period, the company had arrears to the tune of Rs 760.15 crore from revision of crude oil prices and it had a net impact of Rs 621.59 crore on profit before tax (previous year quarter impact of Rs 336.34 crore).

Cumulative net profits for the first nine months of the current year were 47 per cent higher at Rs 2,769 crore as against Rs 1,880 crore in the previous year. Sales revenue for the nine months was up by 29 per centto Rs 14,398 crore compared to Rs 11,158 crore.

GSFC NET UP: Gujarat State Fertilizers and Chemicals (GSFC) has posted a net profit of Rs 11.16 crore in the third quarter of the fiscal 1999-00, up from its Q2 profit of Rs10.76 crore. However, the net profit during the nine-month period in the fiscal was Rs 26.03 crore, down from Rs 74.40 crore in the corresponding period of the previous fiscal.

The company posted a higher turnover of Rs 554 crore during Q3 this fiscal, against Rs 487 crore during the corresponding quarter last year. The turnover for the nine-month period ended on December 1999 increased by Rs 40 crore to Rs 1,517 crore from Rs 1,477 crore during the corresponding period last year.

SK PROFITS RISE: Smithkline Beecham Consumer Healthcare Ltd (SBCH), has reported a 20 per cent rise in net profit and a 13.2 per cent increase in turnover for calendar year 1999. Profit after tax touched Rs 97.6 crore against Rs 81.35 crore last year, despite a depressed demand, major slowdown in the economy and an adverse economic environment, according to a release here today.

Turnover for the year was Rs 705.7 crore against Rs 623 crore last year. SBCH, the Indian associate of Smithkline Beecham of UK, attributed theimpressive results to a combination of volume growth, innovations and effective management of costs and expenses.

PFIZER PROFITS ZOOM: The company has registered a 146 per cent jump in net profit at Rs 30.93 crore for the year ended November 30, 1999 as against Rs 12.58 crore in the corresponding period of the previous year. The board has recommended a dividend of 50% on its equity shares.

Net sales for the period increased to Rs 287.33 crore as against Rs 233.43 crore in the previous year. "From the overall point of view, after adding the turnover of the wholly-owned subsidiary, Duchem Laboratories, aggregating Rs 107.98 crore, the total sales at Rs 395.31 crore reflects a growth of 12.5%," it said. Duchem made a profit before tax of Rs 69 lakhs which is after the inclusion of profit on sale of the Howmedica business of Rs 2.23 crore.