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Mahindras net jumps 25%

Mumbai, Oct. 30 (PTI): Tractor major Mahindra & Mahindra Ltd (M&M) has posted a 25.26 per jump in net profit at Rs 72.99 crore for the second quarter ended September 30, 2003, compared with Rs 58.27 crore recorded in the corresponding previous quarter.

Net sales/income from operations during the period under review increased to Rs 1,118.53 crore as against Rs 820.63 crore registered in the same period last year, M&M said in a release here today.

For the first half ended September, net profit and net sales rose to Rs 115.48 crore (Rs 66.07 crore) and Rs 2,111.42 crore (Rs 1,649.06 crore) respectively.

Novartis Q2 net dips

Novartis India Ltd has reported a 16.87 per cent decline in net profit at Rs 26.45 crore for the second quarter ended September 30, 2003, compared with Rs 31.82 crore in the same period previous fiscal.

Total income during the period under review has also decreased to Rs 146.33 crore from Rs 153.67 crore in the year-ago period, the company informed the Stock Exchange, Mumbai, today.

VSNL net plunges

Videsh Sanchar Nigam Ltd has posted a lower net profit of Rs 48.7 crore for the quarter ended September 30, 2003 compared with Rs 245.9 crore in the corresponding period last fiscal. Total income has also decreased from Rs 1,303.5 crore in the July-September period of last year to Rs 821.8 crore in the quarter ended September 30 this year.

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