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Corporate Briefs

ABB net rises to Rs 45.2 cr

Asea Brown Boveri (ABB) has posted a 39 per cent rise in net profit at Rs 45.26 crore for the second quarter ended June 30, 2003 , compared with Rs 32.57 crore in the same period in 2002.

ues for the quarter grew by 16 per cent to Rs 337.91 crore as against Rs 291.16 crore in the second quarter of 2002. The net profit for the second quarter of this fiscal includes capital gains of Rs 23.3 crore from divestment of metering business in April 2003. Similarly, net profits for the quarter ended June, 2002, included capital gains of Rs 14.4 crore from divestment of air handling business, the company release said.

LG Electronics

LG Electronics today declared a 45 per cent increase in its sales turnover for six months ended June 2003 at Rs 2,286 crore, having sold 8.5 lakh colour televisions and about 2 lakh air conditioners. “By attaining a turnover of Rs 2,286 crore in January-June 2003, we are now well on track to attaining our annual turnover target of Rs 4,500 crore,” head-marketing of LG Electronics India Anil Arora said in a statement here.

Nalco net up

National Aluminium Company Ltd (Nalco) has posted a net profit of Rs 118.33 crore for the first quarter ended June 30, 2003, which represents an increase of 19.37 per cent from Rs 99.13 crore in the same period in 2002. The sales turnover has recorded an increase of 4.74 per cent at Rs 664.88 crore in the quarter under review, compared with Rs 634.77 crore in the corresponding period last year.

Gontermann

Gontermann Peipers (India) Ltd has reported a profit before interest, depreciation and deferred revenue expenditure (PBIDT) at Rs 9.79 crore for the first quarter ended June 30, 2003 compared with Rs 9.70 crore in the same period previous year.

TV 18 profit

The Television Eighteen (TV18) group has reported a net profit of Rs 2.13 crore for the quarter ended June 30, 2003, compared with a net loss of Rs 22.5 lakh last year. Revenues went up by 25 per cent year-on-year to Rs 8.80 crore from Rs 7.01 crore, a company release said.

PFC net soars

Power Finance Corporation has posted a 122 per cent jump in net profit for the quarter ended June 30, 2003 at Rs 870 crore against Rs 391 crore in a year-ago period. Income from operations increased 88 per cent to Rs 1,408 crore from Rs 745 crore.

United Phos

United Phosphorus has posted a quantum jump in net profit at Rs 12.25 crore on a consolidated basis in the first quarter ended June 30, 2003, compared with Rs 2.36 crore recorded during the same period in the previous year.

Satnam Overseas

Satnam Overseas has reported a 40 per cent increase in net profit at Rs 2.59 crore for the first quarter. The leading basmati rice company registered a 21 per cent rise in its turnover to Rs 159 crore, a release said here.

BASF India

BASF India has posted a lower net profit of Rs 10.04 crore in first quarter ended June 30, 2003, compared with Rs 11.69 crore recorded during the same period in the previous year. The company’s total income dropped to Rs 137.88 crore during the quarter under review, as compared with Rs 165.54 crore registered during the same period in the previous year.

Asahi India

Asahi India Glass’ pre-tax profit jumped 72 per cent in the quarter ended June 30, 2003, to Rs 10.64 crore from Rs 6.20 crore in the same period last year. The company’s turnover went up 25 per cent during in April-June to Rs 70.56 crore from Rs 56.33 crore a year ago. Asahi India's subsidiary Floatglass India has registered a 176 per cent rise in pre-tax profit year-on-year to Rs 7.02 crore from Rs 2.54 crore.


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