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Corporate Briefs

Samtel income up 28 %

Samtel Color Limited, a leading manufacturer of colour picture tubes in India, has posted a 28 per cent rise in total income at Rs 899.80 crore in 2002-03, up from Rs 703.39 crore in the previous fiscal. The company’s gross profit has increased to Rs 76.49 crore for the reporting period against Rs 74.65 crore in the previous fiscal. The board of directors has recommended a dividend of 15 per cent.

BOC India net

BOC India has declared a five fold jump in net profit in 2002-03 to Rs 16.30 crore from Rs 2.60 crore in the previous fiscal. Profits from business rose by over 200 per cent from Rs 3.50 crore to Rs 11.50 crore in the current year, a BOC release said.

Vijaya Bank

Vijaya Bank has tied up with Visa International to launch its co-branded credit card.

M&M plant

Mahindra & Mahindra (M&M) has opened its second assembly plant and distribution centre at Calhoun in Georgia, USA to meet the rising American demand for tractors.

Radico Khaitan

Radico Khaitan has reported a 57 per cent rise in its net profit at Rs 18.58 crore during 2002-03 compared with Rs 11.83 crore in the previous fiscal. Sales and other income grew 29 per cent at Rs 620.86 crore during the last fiscal over Rs 480.54 crore in 2001-02, a company release said.

Canara Bank

Canara Bank has reported a net profit of Rs 1,019 crore for the year 2002-03, an increase of 37.52 per cent against Rs 741 crore recorded during 2001-02. The bank’s total business during the year was Rs 1,12,567 crore, up by 15.86 per cent over Rs 97,157 crore recorded in 2001-02.

HCL Frontline

HCL Frontline, the distribution arm of HCL Infosystems, has launched a promotion campaign — Khulja Sim Sim. The offer promises a prize to each buyer of HCL Beanstalk between May 1 and June 30.

Leather exports

The eastern region has exported leather and leather goods worth Rs 1,439 crore for the year ended March 31, 2003, against Rs 1,336 crore in the previous year, according to S. S. Kumar, chairman of the Council for Leather Exports.

ICICIdirect.com

ICICIdirect.com will offer Government of India tax-free 6.5 per cent saving bonds online on its website. ICICI customers now have the facility to place orders for the bonds online without the need for filing any application form, a release said.

AllBank Finance

Allahabad Bank’s wholly-owned subsidiary, AllBank Finance Limited, has turned around in 2002-03 after three consecutive years of losses and has reported a net profit of Rs 3.17 crore. It had reported a net loss of Rs 2.24 crore during the fiscal 2001-02.


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