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Business Briefs

VisualSoft net at Rs 8.42 cr

Hyderabad, April 26: VisualSoft has posted a net profit of Rs 8.42 crore and a total income of Rs 34.28 crore during the fourth quarter ended March 31, 2003. The total income for the fiscal touched Rs 126.61 crore and net profit stood at Rs 32.23 crore. The growth rate in the solutions segment was 27 per cent, which exceeds an earlier guidance of 25 per cent, chairman and managing director D. V. S. Raju said. “Despite the war in Iraq and fears over spread of SARS, we are looking at a conservative growth rate of 20 per cent next year. Our focus will continue on building strategic relationship with customers,” Raju added.

Indo Gulf

Mumbai, April 26: Indo Gulf Fertilisers Limited, an Aditya Birla group company, has posted a net profit of Rs 172.80 crore for the financial year ended March 31, 2003. Its board has recommended a dividend of Rs 2.60 per share. The company’s net sales/income from operations were at Rs 675.21 crore. Its other income was at Rs 25.66 crore, while its profit before interest, depreciation and tax stood at Rs 317.13 crore.

Forex reserves

Mumbai, April 26: The country’s foreign exchange reserves have crossed the $ 76 billion mark, a record high, during the week ended April 18. The foreign exchange reserves increased by $ 326 million to reach $ 76,077 million in the reporting week. The foreign currency assets grew by $ 326 million at $ 72,539 million.

Farm subsidy

Calcutta, April 26: Global agreement on the need to lower farm subsidy was required before a comprehensive agreement could be reached at the World Trade Organization, said K. M. Sahni, additional secretary, ministry of agriculture at seminar here today.

Indica in Lanka

Colombo, April 26: Tata today launched its premium small size car, Indica, in Sri Lanka. The fully loaded 1.4 litre Indica is being offered at a price of Rs 4.88 lakh.

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