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Business Briefs

Exports swell in Q1

New Delhi, Aug. 1: The country’s exports surged by 11 per cent to $ 131.47 billion in the first quarter of this year compared with $ 11.84 billion in April-June 2002-03. But with imports registering an over 27 per cent growth, India’s trade deficit widened, official figures stated. Imports were up at $ 17.33 billion compared with $ 13.64 billion in the year-ago period mainly due to surge in non-oil imports. Thus trade deficit widened to $ 4.2 billion in the first quarter as against $ 1.8 billion in the corresponding previous period.

A-I chief

New Delhi, Aug. 1: Indian Airlines CMD Sunil Arora was today given additional charge of Air-India. While being the chief of Indian Airlines, he will be the managing director of Air-India, official sources said.

BSNL plan

Calcutta, Aug. 1: BSNL is planning an Independence Hungama by offering attractive schemes to its new GSM subscribers. CMD Prithipal Singh said, “The schemes will be similar to the Rs 200 per month and Rs 20 per month schemes which BSNL has for WiLL-M subscribers. We expect to increase the GSM subscriber base to 5 million by March 2004.”

HLL move

Mumbai, Aug. 1: Hindustan Lever (HLL) has received shareholders’ approval for disposal of its edible oils and fats business to Bunge Agribusiness India Pvt Ltd.

Lupin net up

Mumbai, Aug. 1: Lupin has reported a 38.36 per cent rise in net profit at Rs 28.06 crore for the first quarter ended June 30, 2003, compared with Rs 20.28 crore in the same period last fiscal. Total income was up at Rs 268.06 crore (Rs 214.91 crore).


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