Jan. 27 (PTI): Castrol India Ltd (CIL) has posted a 41 per cent rise in net profit at Rs 152.89 crore for the year ended December 31, 2002, as against Rs 108.4 crore last year.
The company’s sales or income from operations during the year stood at Rs 1,339.60 crore compared with Rs 1,357.36 crore in 2001, CIL managing director Naveen Kshatriya said in a statement today.
For the fourth quarter ended December 31, the company has registered a 33.3 per cent rise in net profit at Rs 40.01 crore (Rs 30.02 crore) while income from operations stood at Rs 355.24 crore (Rs 362.69 crore).
Commenting on the future outlook of CIL, Kshatriya said, “In spite of continued dampening of lubricant usage rate because of improved vehicle technology, we are targeting healthy top and bottomline growth in 2003.”
TVS Motors revenues up
Two-wheeler major TVS Motor Co has registered an impressive volume growth of 23 per cent and turnover growth of 36 per cent during the third quarter of the current fiscal.
Announcing the October-December 2002 quarter results today, Venu Srinivasan, chairman and managing director of the company, told newspersons that the sales turnover increased to Rs 713.36 crore from Rs 533.42 crore recorded during the same quarter last year.
IPCA Lab Q3 net zooms 115.4%
IPCA Laboratories Ltd has posted a 115.40 per cent rise in net profit at Rs 15.94 crore for the third quarter ended December 2002, as compared with Rs 7.4 crore in the same period of last year.
Sales in the reporting quarter stood at Rs 123.48 crore as against Rs 114.72 crore in the previous year, managing director Premchand Godha said.
Orchid revenues up
Orchid Chemicals and Pharmaceuticals achieved an improved turnover of Rs 128.28 crore in the quarter ended December 31, 2002, as against with 95.72 crore in the same period of 2001-02, showing a 34 per cent increase. The cumulative revenue for the nine months period ended December, 2002, stood at Rs 346.45 crore as compared with Rs 278.35 crore during the same period last fiscal.