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HCL Insys Q1 net up 26%

New Delhi, Oct. 21: HCL Infosystems Ltd today reported a net profit of Rs 11.10 crore in its first quarter September 30, a 26 per cent rise from Rs 12.47 crore a year back.

The company reported a turnover of Rs 409.7 crore, up from Rs 235.5 crore a year ago. Profit before tax stood at Rs 13.6 crore, compared with Rs 14.1 crore in the first quarter of 2001-02.

Consolidated revenue for the quarter ending September 2002 totalled Rs 435.8 crore, including services revenue at Rs 70.6 crore.

Turnover in the previous year ended June 30 2002, was Rs 1,261.3 crore while profit-after-tax reported was Rs 46.1 crore.

Announcing the results, Ajai Chowdhary, chairman and CEO, HCL Infosystems, said, “The quarterly results bear testimony to the consumers’ increasing confidence in HCL Infosystems to meet their diverse IT needs. We, in turn, have committed ourselves to delivering better value and quality in our products. I believe this will further enhance the strong bond that we have with our customers and continue to help us not just meet, but exceed, their expectations.”

Indo Rama net up

Indo Rama, the country’s largest polyester maker, today said its second quarter net profit rose 163 per cent to Rs 34.24 crore from last year’s figure, on higher operational efficiency, lower interest costs and an increase in polyester fibre sales.

Interest outflow was reduced by 43 per cent to Rs 16.29 in the second quarter (2002-03) from Rs 28.77 crore a year back.

The company said sales rose 18 per cent to Rs 1,153 crore for the half-year (April- September) from Rs 979 crore a year ago, while volumes grew by 23 per cent to 96,067 MT from 77,874 MT. Polyester production for the year 2001-02 (April-March) stood at 14,13,380 MT.

“We expect our turnover to grow by 20 per cent in 2002-03,” managing director O. P. Lohia told reporters and added that the Client Relationship Management (CRM) exercise undertaken by the company on the advice of global management consultant Accenture has helped the firm lower its inventory level.

The firm, which has plants in Madhya Pradesh and Maharashtra, has tied up with Zimmer AG to raise production by 1,45,000 tonnes per year to 3,00,000 tonnes by early 2004. It has also established its spun yarn unit into a separate business entity.

Eicher sales spurt 45%

Eicher Motor Limited (EML) recorded gross sales of Rs 182.7 crore for its second quarter ended September 30, a rise of 44.6 per cent. Net sales income stood at Rs 163 crore, higher 44.8 per cent from Rs 112.6 crore in the second quarter last year.

EML’s net profit after tax grew 151 per cent to Rs 11.86 crore in the quarter, compared with Rs 4.73 crore in the previous corresponding period. EML sold 3,296 vehicles in July-September this year, against 2,228 vehicles sold last year, recording a growth of 48 per cent.

Cumulative vehicle sales for the first half of the current year stood at 5,799 units, from 3,959 units last year, a growth of 46 per cent. Total expenditure as a percentage of net sales during the first six months was also lower at 88.2 per cent against 92 per cent last year.

Speaking on the occasion, S. Sandilya, group chairman and CEO of the Eicher group, said, “Our performance is reflective of our focus on developing application based vehicles to suit the requirements of specific customer segments in both the domestic and international markets”.

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