HCL Tech net up 139

Commenting on the company8217;s results and the future outlook, Shiv Nadar, Chairman and CEO of the company said quot;we have well-defined strategic business plan, a strong global management team which combined with our unique strengths makes us extremely well positioned within the global IT sector.quot;

ASIAN PAINTS PROFITS ZOOM: Asian Paints on Friday announced a hefty 47.8 per cent rise in net profit for the third quarter at Rs 23.24 crore, up from Rs 15.72 crore in the same period last year on the back of a more than 20 per cent cut in interest costs.

For the nine-month period, net profit jumped 30.62 per cent to Rs 62.75 crore from Rs 48.04 crore last year. Higher volume sales led to a 46 per cent jump in net sales at Rs 301.82 crore for the quarter, while in nine months net sales were higher by 19.78 at Rs 803.19 crore. Other income at Rs 3.24 crore was up 30.12 per cent in the third quarter from Rs 2.49 crore in the same period of 1998-99. Asian Paints has managed to curtail interest costs at Rs 5.54 crore.