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Corporate Briefs

Bayer net up 62 % to Rs 23cr

Bayer Labs Ltd has reported a 62.43 per cent rise in net profit at Rs 23.18 crore for the year ended December 31, 2002, compared with Rs 14.27 crore in the previous year. The board has recommended a 25 per cent dividend (Rs 2.50 per share) for the year 2002, the company informed the Bombay Stock Exchange. Total income (net of excise) increased to Rs 306.15 crore in 2002 from Rs 253.15 crore in the previous year, it said. For the December 2002 quarter, it reported a net profit of Rs 5.94 crore (Rs 5.81 crore in same period of 2001) while total income (net of excise) increased to Rs 89.16 crore (Rs 78.16 crore), it added.

Sahara plan

Sahara India Pariwar has launched two schemes — Swarn Yojana and Rajat Yojana — for its housing projects. Under the Sahara Swarn Yojana applicants have to advance Rs 1, 00, 000 lump sum or Rs 10, 000 per month for 10 months. Under the Sahara Rajat Yojana applicants have to advance Rs 10, 000 lump sum.

Mastek foray

Mastek Ltd has formed a wholly-owned subsidiary, Mastek BPO Private Limited, to enter the business process outsourcing (BPO) segment.

Tata Steel

Tata Steel’s Sukinda Chromite Mine has been selected for the National Safety Award (Mines) for the year 2001 under the category of ‘longest accident free’ mine. The award is given by the Union ministry of labour.

Citibank card

The Citibank Women’s Visa Card has crossed the 50,000 mark. The card has been designed to contribute towards empowerment of underprivileged women. Each time when the card was used to make a payment, Citibank donated a proportion of that transaction to its two NGO partners, Sparc (Society for Promotion of Area Resources Centre) and FWWR/Sewa (Friends of Women’s World Banking).

ABN Amro

ABN Amro Bank has unveiled three retail banking initiatives —‘Mpower’, mobile phone-based payment mechanism, ‘Direct Access’, interactive kiosk with video conferencing facility and ‘Goodlife’ credit cards to expand its operations.

Data Access

Data Access (Lanka), promoted by Data Access India, has entered into international long distance arena in Sri Lanka by bagging the external gateway operator licence there.

L&T output

L&T has produced 1.02 million tonnes of cement in February 2003 against 0.93 million 2002. The domestic cement despatches for February 2003 was 0.95 million tonnes compared with 0.80 million tonne in February 2002.

Syndicate Bank

To mark International Women’s Day on March 8, Syndicate Bank has waived service charges on vehicles and consumer durable loans availed by women under the Synd Vahan and Synd Suvidha schemes. It has also brought down the interest rates on both the schemes by 0.5 per cent. The plan will continue till March 31.


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