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Corporate Briefs

HCL Insys profit up 239%

HCL Infosystems has reported a 239 per cent increase in profit before tax and impairment of assets at Rs 41.7 crore in the third quarter ended March 31, 2003 against Rs 12.3 crore in the corresponding previous period. During the reporting quarter the company’s revenue grew 112 per cent to Rs 743.21 crore against Rs 351.4 crore in the corresponding quarter of the previous year. Revenue from computer systems segment grew 26 per cent at Rs 337.2 crore against Rs 267 crore in the corresponding previous quarter. The segment reported a profit before interest and taxes at Rs 32.2 crore against Rs 10.4 crore in the corresponding quarter of 2001-02.

Tata AIG

Tata AIG Life Insurance Company Ltd has launched three life insurance policies for children. Assure EduCare at age 18, Assure EduCare at age 21 and Assure CareerBuilder have been designed keeping in mind the funds needed to meet the university and specialisation education expenses of a child and also offer an insurance cover. The Assure CareerBuilder is a money back life insurance policy with lumpsum payments at 18, 21 and 24 years and finally maturing with the child attaining 27 years.

KPIT Cummins

Pune-based KPIT Cummins Infosystems Ltd’s consolidated profit after tax stood at Rs 5.36 crore and its operating margins posted a 14 per cent rise in fiscal 2002-03. Its revenues for the period under review increased 51 per cent to Rs 72.50 crore compared with Rs 47.91 crore in the previous financial year, a release said.

Debit card

Indian Airlines, ABN Amro Bank and Mastercard International have launched a co-branded debit card in the country, the first such airline debit card in south Asia. It will be launched simultaneously in all nine cities, including Mumbai, Delhi, Hyderabad, Chennai and Pune, where ABN Amro has its branches.

Royal plan

Royal Sundaram Alliance Insurance has launched Homeshield Classic, which would provide protection against the risks of terrorism, fire, earthquake, storm, flood, cyclone, burglary and breakdown of appliances. The scheme has three variants — silver, gold and platinum with sum assured ranging between Rs 2.5 lakh and Rs 5 lakh for a premium of Rs 1,000-2,000.

Oberoi Hotels

Oberoi Hotels & Resorts has announced two special summer packages — Himalayan Vacation and Unforgettable Experiences. The Himalayan Vacation offers a two-night or a three-night package for prices ranging from Rs 11, 000 to Rs 16,000. The Unforgettable Experiences package, includes a two or three nights stay at premium luxury resorts for prices ranging from Rs 15,500 to Rs 35,000.

Samsung TVs

Samsung India has achieved a market share of 26.9 per cent in the eastern region in February 2003. It sold 4.5 lakh CTVs in the first quarter of 2003, of which 1.13 lakh CTVs were sold in the east.


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