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Corporate Briefs

Punj Lloyd net drops

Punj Lloyd Ltd's net profit for 2005-06 stood at Rs 55.46 crore against Rs 100.60 crore in the previous fiscal. Consolidated income was Rs 1,716.59 crore compared with Rs 1,920.32 crore in 2004-05. crore against Earnings before interest, depreciation, taxes and amortisation (EBIDTA) for the fiscal was Rs 222.8 Rs 336.7 crore in the previous year. The EBIDTA margin was 12.98 per cent. The company said its road projects in Assam and Rajasthan were affected due to the slow progress in obtaining right of way from the government, leading to lower turnover in 2005-06. The board has recommended a 10 per cent dividend for 2005-06.

Tata Steel

Tata Steel produced 1.31 million tonnes (mt) of hot metal, 1.21 mt of crude steel and 1.11 mt of saleable steel in the first quarter of 2006-07. Sales in the quarter stood at 1.12 mt, of which 0.19 mt was sold to the auto sector. The company is reorganising its supply chain.

BoR assets

Bank of Rajasthan (BoR) has reduced its net NPA (non-performing assets) to 0.99 per cent in the year ended March 31 from 2.5 percent in the previous fiscal. The bank's net NPA stands at Rs 40.18 crore. The bank has also reduced the gross NPA to 3.26 per cent in 2005-06 from 5.34 percent in 2004-05.

Manipal

Manipal Health Systems has raised Rs 90 crore of equity from IDFC Private Equity Fund II, a fund managed by IDFC Private Equity. The company manages three tertiary care, eight secondary care and nine primary care centres in south India.

SlashSupport

SlashSupport will set up a 250-seat BPO training facility at Teynampet, Chennai. The company will be hiring over 2,000 professionals.

Polygon move

Polygon, the internet jewellery marketplace has opened offices in Dubai, Mumbai and Shenzhen. Jacques Voorhees, founder of Polygon, is the new chairman of the firm.

Sundaram

Sundaram Business Services has opened an office in Singapore as part of the company's plan to target the $550-million Singapore BPO market.

Lotto shoes

Lotto Sport Italia has launched Zhero Gravity laceless soccer shoes. The shoes come with two interchangeable soles and are available for Rs 9,999.

SCMF tie-up

Standard Chartered Mutual Fund (SCMF) has joined hands with Indian Bank to distribute its schemes from bank outlets.

SIDBI branch

Small Industries Development Bank of India (SIDBI) has opened its 57th branch at Hosur, in Tamil Nadu.


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