Goodlass Nerolac Paints Q2 net up

Bangalore: BEL reported a robust growth in net profit for Q2 of 2002-03 at Rs 47.67 crore, up from Rs 22.85 crore in the corresponding period last year. Total income rose from Rs 379.36 crore to Rs 551.81 crore,a company release said here after the financial results were taken on record by the board of directors at their meeting. ‘‘With good order book position, sales and production are expected to further pick up in subsequent quarters’’, CMD V.K. Koshy, said.

Dabur India profit up 25%

New Delhi: Dabur India Limited has recorded a 25.7 per cent growth in net profit at Rs 41.81 crore for the first six months ended September 2002, up from Rs 33.27 crore registered in the corresponding period of previous year. Turnover, during the same period, increased 4.17 per cent to Rs 585.75 crore from Rs 562.75 crore. The company also announced a 50 per cent interim dividend.

SSI Ltd reports better profit

Chennai: SSI Ltd has reported better stand alone quarterly financial performance in its first quarter ended on September 30 last with the total revenues touching Rs 82.87 crore and as against Rs 59.98 crore in the same quarter last year. SSI’s stand alone PAT during the quarter also went upto Rs 2.78 crore from Rs 1.13 crore in the same period last year.

Voltas posts 26% higher turnover

Mumbai: The Board of Directors of Voltas Limited, on Wednesday announced results for the first six months of the current financial year ending September 30, 2002. Despite the difficult economic conditions in the country, the company has performed well during the half year ended September 30, 2002 with its turnover increasing by 26 per cent.

McDowell sales up 23 per cent

New Delhi: McDowell & Co Limited has registered a growth of 23 per cent in sales volume and 15 per cent in operating margin in first half 2003. The figures have been depressed by a one-time provision of Rs 6.69 crore resulting in lower profit before tax (PBT) for the quarter and the half-year. After the provision, McDowell has declared a PBT of Rs 12.93 crore as compared to the previous year’s PBT of Rs 13.83 crore.

Nucleus S’ware reports higher gain

New Delhi: Nucleus Software on Wednesday reported 45.93 per cent higher consolidated revenue at Rs 20.91 crore for the quarter ending September 30, 2002 with post tax profit at Rs 1.74 crore. ‘‘We continue to be extremely bullish about our products which now have global visibility in terms of the most prestigious customer base,’’ managing director Vishnu Dusad said in a statement here.

State Bank of Indore net up 34 pc

New Delhi: State Bank of Indore announced a 34 per cent increase in net profit at Rs 37.5 crore in the first half and said it targets a Rs 15,000 crore business this fiscal. The bank’s net profit grew to Rs 37.50 crore in the first six months of this fiscal from Rs 27.91 crore in April-September 2001, State Bank of Indore managing director S. Prasada Rao said announcing the results. In the second quarter, the bank recorded 40.8 per cent increase in net profit at Rs 20.53 crore.

Khaitan reduces net loss

Kolkata: Khaitan (India) Ltd’s net loss during the second quarter of the current fiscal came down to Rs 0.46 crore from Rs 0.68 crore in the corresponding quarter last fiscal. Sales of the company engaged in marketing of fans, sugarcane cultivation and sugar manufacturing, were down to Rs 14.04 crore from Rs 12.77 crore while expenditure rose to Rs 13.94 crore from Rs 12.72 crore.

Monnet Ispat doubles net profit

Mumbai: Monnet Ispat has doubled its net profit to Rs 4.08 crore in the second quarter ended September 2002 from Rs 2.03 crore in the corresponding quarter of previous year. Net sales were 85 per cent higher at Rs 49.40 crore from Rs 26.67 crore. Cash profit of the company also more than doubled to Rs 5.48 crore from Rs 2.70 crore. A company press release attributed the rise in profits and turnover to market conditions and cost control initiatives.

Gabriel India H1 net up 301%

Mumbai: Automotive shock absorber manufacturer Gabriel India has registered a 306 per cent growth in net profit to Rs 5.76 crore during the first six months ended September 2002 from Rs 1.42 crore during the corresponding half of 2001. Sales rose 23 per cent to Rs 173.19 crore. Profit before tax of the Anand group company was up from Rs 2.20 crore to Rs 8.30 crore.