The Telegraph
Since 1st March, 1999
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Corporate Briefs

Hexaware net at Rs 2.3 cr

Hexaware Technologies has posted a higher net profit of Rs 2.34 crore for the third quarter ended September 30 compared with Rs 50.29 lakh in the corresponding quarter of the previous year. Total income for the period under review fell to Rs 25.71 crore against Rs 73.07 crore in the third quarter of the previous year, the company said. The total global revenue for the period was Rs 68.02 crore (Rs 100.08 crore). The figures are not comparable with the corresponding quarter of the previous year as it includes transactions of training and education division and excludes figures of erstwhile Hexaware Technologies.

L&T contracts

Larsen & Toubro Ltd has won two World Bank-financed $ 100 million-contracts from Tanzania-based Songas Ltd. The project involves collecting gas from three offshore wells, processing it at the gas plant on the Songo Island of Tanzania, exporting it to mainland via the submarine one and then piping it to Dar-Es-Salaam, 215 km away. The gas would be utilised in the existing 112 MW gas turbine power plant.

Huawei Tech

Huawei Technologies has signed a contract with Beeline-Samara in Russia and Alkan Communications in Egypt for the deployment of its telecom products.

Balmer Lawrie

Fitch Ratings India has assigned a F1+(Ind) rating to the Rs 25-crore commercial paper programme of Balmer Lawrie. It indicates highest credit rating and strongest capacity for timely payment of financial commitments.

Icra rating

Icra has assigned Mahanadi Coalfieldís Rs 100 crore nonconvertible debenture programme LAA rating (L double A) indicating highest safety due to higher profits, better operational efficiency and favourable financial risk profile.

Satyam pact

Satyam Computer Services Ltd has announced a strategic alliance with California-based Inktomi Corp for support contracts of the majority of Inktomiís content networking customers and partners. In addition, Satyam will be a master reseller of Inktomi content networking products.

IBP alliance

IBP and Iftex Petrochemicals have signed a marketing alliance for sale of fuel additives and car care products through the oil majorís nationwide retail outlet network. The products would be co-branded as IBP-Iftex System G, IBP-Iftex System D and IBP-Iftex System 2/3. These products have received OEM approvals from General Motors, Ford India, Hyundai, Maruti, Bajaj, TVS.

Veronica tieup

Veronica Laboratories Limited (VLL) has entered into a marketing alliance with Enpee healthcare limited to acquire the marketing rights for Herbtab, a drug which the company claims as the worldís first herbal anti-AIDS drug. It will be available nationally following its passing Phase III clinical trials at KEM hospital, Mumbai.

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