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ACC net drops 70% to Rs 5 crore

Oct. 31: Associated Cement Companies (ACC), the second largest cement company in the country, unveiled a near 70 per cent drop in its net profit during the quarter ended September 30, despite a 5 per cent increase in total income.

In the last quarter, ACC posted a net profit of Rs 5.12 crore as against Rs 17.03 crore in the corresponding period of last year. The company’s total income during the quarter was at Rs 689.91 crore, compared with Rs 657.2 crore in the second quarter of 2001-02.

EIH slips into red

EIH Ltd, the country’s leading hotel company, slipped into the red with a Rs 3.58 crore net loss in the quarter ended September 30 compared with a profit of Rs 1.73 crore in the corresponding period of last year. EIH’s sales during the quarter at Rs 82.09 crore was 10.77 per cent lower than last year. Net sales during the first six months of 2002 was at Rs 163.84 crore, and net loss at Rs 2.88 crore.

Saregama net loss at Rs 11.89 cr

Saregama India Ltd (formerly Gramophone Company) of the R. P. Goenka stable posted a net loss of Rs 11.89 crore in the quarter ended September 30, taking its half-year net loss to Rs 25.04 crore.

Revenue from sales during the first half declined by 27.45 per cent to Rs 40.5 crore. Income from sales in the last quarter was at Rs 19.5 crore.

GlaxoSmithKline Pharma net

GlaxoSmithKline Pharmaceuticals Ltd (GPL) has posted a 54.78 per cent rise in net profit at Rs 37.38 crore in the third quarter ended September 30, 2002, compared with Rs 24.15 crore in same period of previous fiscal.

Net sales in the period under review has also increased to Rs 324.55 crore against Rs 304.86 crore in the third quarter of last year, GPL said in a statement today.

For the nine months ended September, the net profit rose to Rs 100.63 crore (Rs 84.41 crore in the corresponding period of last year) while net sales increased to Rs 913.76 crore (Rs 818.08 crore).

Nestle net sales at Rs 523.5 cr

Nestle India today reported Rs 523.5 crore net sales for the quarter ended September 2002, while net profit declined 16.3 per cent to Rs 44.08 crore.

“We continue to operate in difficult market conditions which have resulted in negative growth for most FMCG companies. I am satisfied that Nestle India has delivered a steady performance in such an environment,” chairman and managing director Carlo Donati said in a statement here.

Burroughs net profit up 70%

Burroughs Wellcome India Ltd has reported a 70.07 per cent rise in net profit at Rs 11.31 crore for the third quarter ended September 30, 2002, compared with Rs 6.65 crore in same period of previous fiscal. Sales (net of excise) in the period under review has increased to Rs 50.97 crore as against Rs 49 crore in the third quarter of last year.

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