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Corporate Briefs

Ontrack profit up 38 %

Ontrack Systems Limited has reported a 38.36 per cent growth in profitability of Rs 30.62 lakh during the second quarter of the current fiscal against Rs 22.13 lakh during the corresponding period last year. It reported a 51.144 per cent growth in revenue at Rs 3.53 crore during the reported period against Rs 2.33 crore in the previous corresponding period. Exports registered a 190.96 per cent growth amounting to Rs 2.81 crore against Rs 96.63 lakh in the previous corresponding period. During the quarter it received ISO-9001:2000 accreditation for quality management system from Norsk Akkreditering, Norway.

BPCL dividend

Bharat Petroleum Corporation Ltd (BPCL) has paid Rs 218.46 crore dividend for 2001-02 to the government. The government holds 66.2 per cent of the company’s total equity of Rs 300 crore and the dividend was paid at a rate of 110 per cent. The dividend was 75 per cent in 2001-02, on the post bonus equity of Rs 300 crore. BPCL recorded 2.06 per cent increase in net profit at Rs 849.8 crore in 2001-02 against Rs 832.6 crore in 2000-01.

Kinetic Nova

Two-wheeler maker Kinetic plans to hike the production capacity of ‘Nova’ to 8,000 units in October which will be further increased to 9,000 units per month in the next two months.

Electrolux plan

Electrolux Kelvinator has entered the frost-free refrigerator segment with the launch of indigenously manufactured ‘O-zone’ range. The CFC-free O-zone is designed by Electrolux Design Centre in Stockholm but developed and manufactured in India at the company’s plant in Warora.

Command pact

Command has tied with E-Books World Pvt Ltd (through their portal Oxfordstore.com) to offer the English dictionary service on SMS to its subscribers, a press release said.

Kotak dividend

Kotak Mahindra Mutual Fund (KMMF) has declared a dividend of Re 0.0105 per unit under the K Liquid scheme. The record date for the dividend was October 7, a press release said.

Tata Steel

Tata Steel website, www.tatasteel.com, has been declared the winner of the ‘People’s Choice Award’ by the International Iron & Steel Institute, Belgium.

Malana Power

Fitch Ratings India has agreed in principle to assign AAA(Ind)(SO) rating to the Rs 25 crore secured non-convertible debenture issue of LNJ Bhilwara-promoted Malana Power Company. The rating outlook is stable.

ABN Amro

ABN Amro Bank has introduced its global banking service for non-resident Indians (NRIs) in the United Arab Emirates.

Allen Solly

Allen Solly has launched the Las Vegas collection, a company release said.


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