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Corporate Briefs

Abbott net profit down 27%

Abbott India Limited has posted a 26.86 per cent decline in net profit to Rs 10.29 crore for the first quarter ended February 28, 2003, compared with Rs 14.07 crore in the same period last year. The company’s total income rose to Rs 82.72 crore during the period under review as against Rs 81.25 crore reported in the first quarter of last year, the company informed the Bombay Stock Exchange.

Ramco order

Ramco Systems, a Chennai-based information security solutions provider, has won an order from Tata Teleservices Limited (TTSL) to design, integrate and maintain TTSL’s information security architecture in six telecom circles in the country.

Centurion Bank

Centurion Bank has launched mobile phone based “SMS Alerts” system in Calcutta, Delhi, Mumbai, Chennai and Bangalore. The SMS Alert would update customers about their bank balance every week, debits and credits of over Rs 1,000, deposit maturity and rates by sending SMS on their mobile phone, a release said.

ICICI Pru Life

ICICI Prudential Life Insurance has claimed it has crossed the three-lakh policy mark, notching up one-lakh policies during the last four months. A release said that its premium income is Rs 470 crore and a total sum assured of over Rs 7,400 crore.

Corp Bank

Corporation Bank has tied up with the Life Insurance Corporation of India to open 33 more service outlets spread over Punjab, Chandigarh, Delhi, Rajasthan, Jharkhand, Orissa, Maharashtra, Goa, Karnataka and Tamil Nadu.

L&T contract

Larsen & Toubro (L&T) has won a Rs 269-crore road contract for upgradation of the highway between Hiriyur and Bellary in Karnataka, under the State Highways Improvement Project. The project will be executed by the Engineering, Construction and Contracts division (ECC) of L&T. It involves a stretch of 144 km and will be completed within a time frame of 42 months.

HCL Info

HCL Infosystems has said its partnership with Sun Microsystem has taken a lead due to the signing of deals with Andhra Pradesh government and ONGC for installation and upgradation of Sun systems.

McDowell rum

McDowell and Company Ltd has said its No.1 Celebration Rum has crossed sales of over 3 million cases during the year, a company release said.

Bhel-TCS pact

Bharat Heavy Electricals Ltd (Bhel) has signed an MoU with Tata Consultancy Services (TCS) for providing comprehensive solutions and to develop innovative, cutting-edge technology and futuristic IT-based solutions for the power sector.

Van Heusen

Van Heusen has launched formal T-Shirts, a company release said.


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