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Britannia maintains growth in 2nd quarter

Oct. 28: Britannia Industries Ltd today reported a marginal increase in its second quarter net profit at Rs 26.20 crore against Rs 25.30 crore in the corresponding quarter of the previous year.

Profit on sale of residential properties amounting to Rs 4.70 crore significantly contributed in overall increase in net profit during the quarter ended September, 2002.

Net sales, however, came down to Rs 360.70 crore from Rs 379.60 crore, but the company said the current quarter’s figures were not comparable as previous year’s figures included numbers for dairy business which had been transferred to Britannia New Zealand Foods Pvt Ltd, a JV with Fonterra Cooperative group.

“On a comparable basis, net sales have increased by 7 per cent,” the company informed stock exchanges.

Net profit and sales during the first half of 2002-03 stood at Rs 44.90 crore (Rs 41.50 crore last year) and Rs 687.30 crore (Rs 729 crore last year).

Century back in black

Improvement in textiles segment has led Century Textiles and Industries Ltd (CTIL) back in black with a net profit at Rs 9.98 crore in the second quarter ended September 30 over a net loss of Rs 3.28 crore in the same period of the previous year.

The company’s net sales for the reporting quarter stood at Rs 517.07 crore as compared with Rs 515.76 crore in second quarter of 2001, CTIL informed the Bombay Stock Exchange here today.

Gillette India net at Rs 8.10 crore

Gillette India today reported a net profit of Rs 8.10 crore for the quarter ended September 30, 2002, against a net loss of Rs 3.55 crore for the same period last year.

Net sales for the quarter were however, lower by 12.8 per cent due to cessation of export sales of batteries following discontinuation of manufacturing operations at Duracell Manesar plant early this year. Net profit during January-September 2002 stood at Rs 9.79 crore as against a net loss of Rs 2.43 crore a year earlier.

ONGC net jumps 36.6%

Decontrol of oil sector has resulted in windfall profits for state-run Oil and Natural Gas Corporation (ONGC) with its net profit jumping 36.6 per cent to Rs 2,277 crore during the second quarter ended September 30 as compared with a profit of Rs 1,666 crore in the same period last year.

Sales increased 35.5 per cent to Rs 7548 crore in July-September as opposed to Rs 5567 crore sales in the same quarter last fiscal, a company statement said here.

Eicher cash profit at Rs 6.2 crore

Eicher Ltd today said it has swung to a cash profit of Rs 6.2 crore for the quarter ended September 30, 2002, against a cash loss of Rs 0.5 crore in the same period last year.

Gross sales for the July-September quarter rose by 4.4 per cent to Rs 140.9 crore from Rs 134.9 crore last year.

The net loss for the quarter stood at Rs 2.3 crore against Rs 3.9 crore in the second quarter last year.

BASF net down 5.6%

Chemicals company BASF India Ltd has posted a 5.6 per cent drop in net profit of Rs 8.49 crore for the quarter ended September 30, 2002, compared with Rs 8.94 crore in the same period last fiscal.

The total net income for the period under review grew by 2.22 per cent to Rs 135.92 crore as against Rs 132.96 crore in July-September 2001 period, the company informed the Bombay Stock Exchange today.

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