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Corporate Briefs

Guj NRE Coke net up 77%

Calcutta, April 11: Gujarat NRE Coke today announced a 77 per cent increase in net profit at Rs 2.73 crore during the quarter ended March 2003 against Rs 1.54 crore recorded in the corresponding quarter of previous fiscal. Net sales during the quarter increased to Rs 43.29 crore from Rs 18.31 crore whereas total expenditure stood at Rs 39.79 crore. The basic and diluted EPS has also shown a growth of 31 per cent from Rs 1.18 to Rs 1.55, the company said in a release.

Birla Tyres

Birla Tyres has been awarded the Nicco trophy for excellence in human resources.

Cachar Paper

Cachar Paper Mill, Panchgram, Assam, a unit of Hindustan Paper Corporation Limited has been awarded the ISO 14001:1996 environmental management system certification by Det Norske Veritas of the Netherlands.

LNM group

The L. N. Mittal group has become the second largest steel company in the world after its crude steel output touched 34.8 million metric tonnes during 2002. According to the figures released by the International Iron and Steel Institute (IISI) for 2002, the group has increased its annual output by over 80 per cent at 34.8 million metric tonnes of crude steel during 2002 over 19.2 million metric tonnes in the previous year.

Uco Bank

Riding on a 28.70 per cent jump in incremental advance and 16.50 per cent growth in deposit base, Uco Bank expects its operating profit to jump by over 25 per cent to cross Rs 600 crore mark in 2002-03. The bank has registered a growth of more than 20.50 per cent in its total business during the fiscal to Rs 48,500 crore resulting in an addition of Rs 8,275 crore during the year compared with Rs 8,014 crore of total business added during 2001-02.

Durgapur Steel

Durgapur Steel Plant (DSP) is set to report a net profit for the quarter ended March 31, 2003. Buoyant steel market has helped the company, which has been making losses since inception, to turnaround in the fourth quarter of last fiscal. According to DSP managing director, S. K. Bhattacharyya, the plant will be able to clock net profits in this fiscal on an annual basis.

CCL profit

Central Coalfields (CCL) has declared a record provisional profit of Rs 270 crore in 2002-03. The company produced 37.03 million tonnes of coal in 2002-03, which is an all-time high in the past 20 years.

Munoth mobile

The country’s first brand of GSM mobile handsets has been launched by Chennai-based Munoth Industries. The company will make available three models under its brand name, V. K. Munoth — VG 107, CG107 and VG207 in 50 cities across the country.

Aptech Ltd

IT training firm Aptech Ltd, now a part of the Chennai-based SSI Ltd, has trained over 5,000 employees of Union Bank of India at its various centres across the country.

ICI launch

ICI Paints has introduced the Dulux Supreme 3-in-1 interior acrylic emulsion.

Sun F&C

Sun F&C Mutual Fund has declared a dividend of 0.65 per cent (or Re 0.0650 per unit on a face value of Rs 10) for its monthly dividend plan.

Kores range

Kores (India), manufacturer of carbon paper, stencils and other stationery, has launched its wide range of art material in the eastern region.

Dena Bank

Dena Bank has commenced the sale of Om Kotak Mahindra Life Insurance Company Ltd’s products under an exclusive “referral agreement”.


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