Bhel net up to Rs 468 cr
Engineering major Bharat Heavy Electricals Ltd (Bhel) has reported nearly 50 per cent rise in net profit to Rs 468 crore during 2001-02. Sales grew by 14.8 per cent to Rs 7,287 crore last fiscal and an enhanced equity dividend of 40 per cent was announced by Bhel chairman-cum-managing director K. G. Ramachandran at the 38th annual general meeting. Profit before tax went up by 125 per cent to Rs 663 crore and earning per share jumped by almost 50 per cent to Rs 19.12 crore. “A major highlight of the year was a quantum jump in physical exports to Rs 987 crore, 13.5 per cent of sales turnover,” a Bhel release said.
Karnataka Bank has decided to offer rights shares in the ratio of one equity share (Rs 10 each) for every two shares held on the record date. Earlier, the bank had resolved to offer one share (Rs 10 each) at Rs 25 per share including the premium of Rs 15 per share for every one share held on the record date to be fixed later, the company informed the Bombay Stock Exchange.
Telecom equipment provider Vocaltec Communications Ltd would soon open a sales and marketing office in New Delhi to support the company’s expansion plans in the country.
HMT Machine Tools Limited, a wholly owned subsidiary of HMT Limited, has developed a CNC universal thread and worm grinding machine the 160u for export to Nigeria.
The Dredging Corporation of India (DCI) has earned a net profit of Rs 101.55 crore during the financial year 2001-2002. Chairman and managing director of DCI, Neerav Kumar Gupta said the company’s income stood at Rs 561.5 crore compared with Rs 402.85 crore it earned during the last fiscal thereby exceeding the targeted figure of Rs 500 crore.
Rajasthan Electronics and Instrument Limited (REIL), a public sector enterprise, has declared a dividend of 15 per cent for the year 2001-2002, achieving a growth of over 11 per cent in its turnover. REIL is paying dividend after a gap of about 13 years, managing director M. M. Bhardwaj said.
A. V. Birla group’s Madura garments has launched its ‘Allen Solly women’s wear’ in the country and aims to make it a Rs 200-crore brand with a turnover of Rs 10 crore per year for the next three years.
Grasim Industries Limited has introduced a cement and concrete mobile lab in the city and its adjoining areas to provide consumers with technical assistance and support at their doorstep.
Sreeleathers had organised a painting competition, Sharadanjali, in 120 localities in the city on September 29, a release said.