EIH net at Rs. 95 cr., pays 60 p.c.

EIH, a member of the Oberoi group, has announced a net profit of Rs. 94.82 crores for the year 2000-01 against Rs. 72.47 crores in the previous year. Total revenue is higher at Rs. 518.93 crores against Rs. 466.32 crores. The directors have recommended a dividend of 60 per cent against 50 per cent previously.

Foreign exchange earnings are Rs. 279 crores (Rs. 258 crores). An amount of Rs. 60 crores has been transferred to general reserve and Rs. 25 crores to foreign exchange reserve. The shareholders funds now stand at Rs. 1,149 crores.

Mr. P. R. S. Oberoi, vice chairman and managing director, said, ``Due to political stability and improvement in business conditions, occupancy levels and average room rates have improved compared to last year. Wherever possible, steps have been taken to eliminate waste and contain costs.'' Further, he added, ``it is unfortunate that the central and state governments have not yet appreciated the potential of travel and tourism as a job creator and as an important economic activity. Unless there is improved infrastructure, better airports and reduction in the burden of multiple taxes on visitors, the travel and tourism industry will not realise its full potential.''

Mr. Oberoi also announced that The Oberoi, Mauritius, and The Oberoi, Sahl Hasheesh on the Red Sea coast, Egypt, were opened in the latter part of 2000-01. Amarvilas, Agra, and Wildflower Hall, Mashobra, Himachal Pradesh, also were opened during the year. Udaivilas in Udaipur and Vanyavilas, Ranthambore, are expected to be in operation before the end of this year.

Tata Telecom

Tata Telecom has announced a profit of Rs. 13.12 crores for the year ended March 2001 against a loss of Rs. 5.26 crores in the previous year. The company achieved a higher turnover of Rs. 234 crores against Rs. 182 crores.

The flagship division of the company, business communications division (BCD), achieved a turnover of Rs. 200 crores (Rs. 150 crores). While the BCD made a profit of Rs. 13.34 crores (Rs. 4 crores), the loss for the year is Rs. 2 lakhs (Rs. 5.25 crores). However, the company posted an overall profit of Rs. 14.32 crores against a loss of Rs. 5.25 crores.

After providing Rs. 1.21 crores (nil) for tax, the writeback of excess tax provision made in earlier years, the net profit of the company for the year is Rs. 13.12 crores (Rs. 5.26 crores).

Rajapalayam Mills

Rajapalayam Mills has increased its sales to Rs. 121,78 crores in the year ended March 31, 2001 from Rs. 112.01 crores. The operating profit has risen to Rs. 29.37 crores from Rs. 25.11 crores. Interest charges were lower at Rs. 5.41 crores against Rs. 5.86 crores while depreciation claimed Rs. 11.73 crores (Rs. 9.03 crores). The net profit has risen to Rs. 12.23 crores from Rs. 10.22 crores.

The provision for taxation is Rs. 45 lakhs (Rs. 20 lakhs). A dividend of 36 per cent has been proposed absorbing Rs. 1.08 crores (Rs. 90.38 lakhs). The transfer to general reserve is Rs. 10 crores (Rs. 9 crores). The appropriations include donation of Rs. 44.14 lakhs (Rs. 12.85 lakhs) and a contribution of Rs. 25 lakhs (Rs. 20 lakhs) towards P.A.C. Ramasamy Raja Memorial Fund. The surplus carried forward is Rs. 85.12 lakhs against Rs. 95.62 lakhs brought in.

Ramaraju Surgical Cotton

Ramaraju Surgical Cotton Mills has achieved a marginal increase in its total income to Rs. 54.01 crores in the year ended March 31, 2001 from Rs. 53.89 crores while the gross profit before has risen slightly to Rs. 3.44 crores from Rs. 3.35 crores. Depreciation claimed Rs. 2.23 crores (Rs. 1.62 crores) and interest charges Rs. 2.82 crores (Rs. 2.27 crores). The net profit was lower at Rs. 1.21 crores against Rs. 1.73 crores. The dividend has been maintained at 25 per cent absorbing Rs. 2.47 crores. The transfer to general reserve is Rs. 65 lakhs (Rs. 1.20 crores). The appropriations included donations of Rs. 18.14 lakhs (Rs.4.32 lakhs) and contribution to Ramaraju Memorial Fund Rs. 2.41 lakhs (Rs. 3.46 lakhs). The surplus carried forward is Rs. 15.36 lakhs against Rs. 17.39 lakhs brought in.

1:1 bonus from Ma Foi

The net profit after tax during 2000-01 of Ma Foi Management Consultants, a leading integrated human resource service provider, is estimated at Rs. 50.59 lakhs against Rs. 46.34 lakhs in the previous year. It has recorded a 56 per cent growth in turnover during the year, bringing it to Rs. 13.72 crores from Rs. 8.77 crores.

The directors have proposed a dividend of 12 per cent, tax free, and a bonus issue of one share for every share held.

A company release says Ma Foi has recently been certified by DNV, Norway, as an ISO 9001 company for all services and all locations. The company has received certification for its services in recruitment, payroll processing, onsite contract staffing, soft skills training, compensation surveys and structuring, HR outsourcing and employee surveys.

Send this article to Friends by E-Mail

Section  : Business
Previous : BPCL raises Rs. 345 cr. through private placement
Next     : Chennai to host IT enabled services meet