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Tata Chemicals Q4 net zooms 150%

Mumbai, April 29: Tata Chemicals Ltd has posted a 150 per cent growth in net profit to Rs 60.20 crore for the fourth quarter ended March 2003 as against Rs 24.12 crore in the corresponding period of the previous financial year.

Net sales during the reporting quarter rose modestly to Rs 379.07 crore as against Rs 367.58 crore in the corresponding period of the previous financial year.

The company’s net profit for the financial year 2002-03 increased by 55 per cent to Rs 197 crore as against Rs 127 crore in the previous financial year. Income from operations was higher by 14 per cent at Rs 1,628 crore (Rs 1,434 crore).

Tata Chemicals added that there were multiple financial initiatives, including restructuring of debt that brought down net interest cost by 18 per cent to Rs 90 crore from Rs 110 crore.

Aptech Q1 net up 78%

IT education and training major Aptech Ltd posted a 77.98 per cent rise in net profit at Rs 1.94 crore in the first quarter ended March 31, 2003, compared with Rs 1.09 crore registered during the same period a year ago.

The company’s income from operations increased to Rs 33.83 crore in the reporting quarter as against Rs 23.84 crore posted during the same period last year, Aptech said in a release here today.

Total revenue during the quarter rose to Rs 33.99 crore compared with Rs 24.50 crore posted during the same period in 2002, it said.

The company’s income from operations has posted a 41.31 per cent rise to Rs 33.83 crore during the quarter compared with Rs 23.94 crore posted during the same quarter a year ago, it added.

It posted a gross operating profit after interest before depreciation and tax of Rs 4.76 crore compared with an operational loss of Rs 2.25 crore in the corresponding previous quarter.

Quarter-on-quarter basis, Aptech posted a 10.23 per cent growth at Rs 1.94 crore in its first quarter of 2003 compared with Rs 1.76 crore in 2002, the release added.

On a consolidated basis, Aptech posted a lower net profit at Rs 65.96 crore in first quarter (Rs 81.99 crore). The consolidated income includes the company’s subsidiaries and its joint venture firm in China, it said.

“Our emphasis on cost optimisation and profitability is continuing to bear results,” said Pramod Khera, Aptech chief executive officer and managing director.

PNCL net falls

Entertainment software company Pritish Nandy Communications Ltd (PNCL) posted a slight drop in net profit at Rs 1.61 crore for the year ended March 31, 2003 as compared with Rs 1.75 crore in the previous year.

Total income more than doubled at Rs 41.24 crore during the year under review as against Rs 20.39 crore in the previous fiscal, a company release said here today.

The company earned a higher net profit of Rs 1.47 crore (Rs 54 lakh) in the fourth quarter while total income dipped sharply to Rs 6.64 crore (Rs 10.55 crore).

Three films, despite being readied for release, could not hit the theatres on account of cricket world cup and later due to a strike by the producers’ associations, the release added.

The company said, currently it has six motion pictures in various stages of production.

MMTC net up 10%

State-owned trading house MMTC Ltd posted a 10 per cent increase in net profit during 2002-03 at Rs 20.54 crore as against Rs 18.54 crore in 2001-02. Total turnover stood at Rs 6,255 crore, including Rs 2,379 crore export sales in the last financial year, a release said.

The company has declared an interim dividend of 20 per cent interim for 2002-03.

MMTC’s export in 2002-03 reflected a 38 per cent growth over the previous fiscal. The trading house achieved an import turnover of Rs 3,719 crore in 2002-03.

The overall domestic trade of the company last fiscal stood at Rs 156 crore which was a three-fold increase over 2001-02.

MMTC has set a 14 per cent higher business target at Rs 7,120 crore for 2003-04 as against its performance in 2002-03.

Essel Propack Q1 net

Laminated tubes manufacturer Essel Propack Ltd has posted a lower net profit at Rs 7.3 crore for first quarter ended March 31, 2003, compared with Rs 10.9 crore registered during the same period a year ago. Income from operations was lower at Rs 45.3 crore compared with Rs 60 crore posted during the same period last year, the firm said in release.

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