The Hindu : VSNL third quarter net up

Online edition of India's National Newspaper
Thursday, Jan 22, 2004

Business

Business

VSNL third quarter net up

MUMBAI, JAN. 21. Videsh Sanchar Nigam Ltd has posted 121.14 per cent rise in net profit at Rs. 180.90 crores for the third quarter ended December 31, 2003, compared to Rs. 81.80 crores registered in same period of previous fiscal.

Total income during the period under review has decreased to Rs. 823.30 crores from Rs. 1,044.60 crores in Q3 of last year, the Tata group entity said in a release here today.

Figures for the previous quarter are after accounting for impact of adjustments pertaining to the period ended September 30, 2002, with respect to interconnect agreements finalised with major domestic operators in November 2002.

For the nine months ended December, the net profit, however, declined by 49.84 per cent to Rs. 295.40 crores (Rs. 589 crores in the same period of last year).

Total income in the nine months of the current fiscal stood at Rs. 2,571.40 crores (Rs. 3,774.20 crores), it added.

Revenue from international telephony and related services in Q3 and nine months was Rs. 662.30 crores and Rs. 2,071.70 crores respectively.

VSNL has sold its entire investment in Inmarsat Ventures Plc during Q3 and realised a gain of Rs. 94.10 crores.

The Tata group company has also entered into an agreement with BSNL under which VSNL's infrastructure would be used for carrying its international long distance traffic for one year, following expiry of the current arrangement on February 13.

Grasim

Grasim Industries, on the back of better performance from all its divisions, has announced a net profit of Rs. 163.70 crores in the quarter ended December 31, 2003, a jump of 23 per cent over the corresponding period of the previous year. Net turnover during the period was Rs. 1,335.40 crores (Rs. 1,166.60 crores). The profit before interest, depreciation and tax was Rs. 339.60 crores (Rs. 298.10 crores) and it provided Rs. 39.40 crores (Rs. 40.50 crores) for interest, Rs. 69.50 crores (Rs. 63.20 crores) for depreciation and Rs. 67 crores (Rs. 61.50 crores) for tax.

For its cement division, the company envisages a total capital outlay of Rs. 306 crores towards modernisation and capacity expansion through debottlenecking and process improvement. The capacity is expected to increase to 13.5 million tonnes by the end of 2003-04.

Siemens

Siemens has reported a turnover of Rs. 37.60 crores in the first quarter ended December 31, 2003 an increase of 3 per cent over Rs. 298.50 crores in the year-ago period while the profit before tax was Rs. 23.70 crores (Rs. 51.30 crores).

The figures for the previous period included dividend income from a subsidiary and a one-time gain of Rs. 25.60 crores on account of an advance payment received and booked against a cancelled order, as per contractually agreed terms.

The profit after tax was Rs. 16.50 crores against Rs. 34.40 crores. After knocking down the extra-ordinary effects, this represented a rise of 51 per cent on a comparable basis.

For the quarter under reference new orders intake was Rs. 911.30 crores as compared to Rs. 406.30 crores.

The value of unexecuted order as on December 2003 was Rs. 1,523.90 crores.

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