KIOCL Q1 net at Rs 21cr
State-owned Kudremukh Iron Ore Company Ltd (KIOCL) has posted a net profit of Rs 21.38 crore during the first quarter of this fiscal while the gross margin was Rs 48.76 crore during the same period. The net profit has been achieved over the target of Rs 14.29 crore while the gross margin against the target of Rs 32.75 crore, KIOCL chairman S Murari said. The turnover of the company stood at Rs 86.02 crore while the highest quality of pellets despatch during April 2002 was 4,00,465, an official release said. Production of 9,49,000 tonnes of pellets in the first quarter of 2002-03 was the highest in any quarter so far, it added.
The Calcutta Port Trust has handled an all time record number of containers of 20,004 TEUs for the month of August. This is 17.91 per cent higher than the number of containers handled in August 2001. The Calcutta Dock System has alone contributed a record container traffic of 10,153 TEUs, which is 22.12 per cent higher than the container traffic handled by it in August 2001, while the Haldia Dock Complex handled 9,851 TEUs, which is 13.86 per cent higher than the container traffic handled by it in August 2001.
Tata Consultancy Services (TCS) and Intel Corporation have announced the setting up of a e-business solution lab to focus on building practices on Intel architecture platform for worldwide enterprise customers. “It will bring in proven research, development and delivery capabilities in line with the strategic focus of the e-business lab, which is to be in Mumbai,” TCS CEO S Ramadorai said.
IDBI-Principal Asset Management Company Ltd has introduced a trust benefit fund for charitable and religious trusts and non-profit organisations seeking regular income. The open-ended fund with two options — debt and government securities plan — will be open for subscription upto September 20.
Reckitt Beckiser plans to acquire the remaining 12.7 per cent minority shareholding through a second voluntary offer of Rs 250 per share in cash. The offer will remain open from September 2 and will close on October 1.
TVS Motors has extended support to Bharat Petroleum’s Pure for Sure movement in Calcutta. Bharat Petroleum had organised a contest for its customers for which TVS had sponsored three Fiero Bikes.
ING Vysya Life Insurance, the Bangalore-based joint venture between Vysya Bank and GMR Technologies and industries, has announced a 5 per cent cash bonus for its policyholders.
Fitch Ratings India has affirmed the AA (Ind) rating of the Rs 25-crore non-convertible debenture programme of Ashok Leyland Limited.
Hero Honda Motors said its sales during August 2002 rose by 26.7 per cent to 1.37 lakh motorcycles from 1.08 lakh units in the same month last year.