The Hindu : Business : Cipla achieves higher net profit

Online edition of India's National Newspaper
Saturday, Jul 24, 2004

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Business

Cipla achieves higher net profit

Cipla has reported a net profit of Rs. 79.2 crores for the quarter ended June 2004 against Rs. 67.2 crores in the same period of the previous year.

The company has announced that subject to shareholder approval, the face value of its equity shares has been sub-divided from Rs. 10 to Rs. 2. It has also announced a dividend of Rs. 3 per share (face value of Rs. 2) for the year 2003-04.

Cipla's sales and income from operations for the period were at Rs. 568.24 crores (Rs. 454.23 crores) with other income at Rs. 11.89 crores (Rs. 6.68 crores). The company provided Rs. 1.37 crores (Rs. 99 lakhs) for interest, Rs. 13 crores (Rs. 8.75 crores) for depreciation, Rs. 22.5 crores (Rs. 14.7 crores) for current tax and Rs. 2.5 crores (Rs. 2.4 crores) for deferred tax.

GlaxoSmithKline Consumer

GlaxoSmithKline Consumer has achieved a gross turnover of Rs. 239.12 crores for the quarter ended June 30, 2004 against Rs. 228.06 crores in the same period in the previous year. The operating profit has declined to Rs. 40 crores from Rs. 47.64 crores. The profit before amortisation and taxation is lower at Rs. 31.96 crores against Rs. 38.09 crores and the profit after taxation at Rs. 18.58 crores against Rs. 22.28 crores.

Castrol India

Castrol India has announced a net profit of Rs. 47.1 crores for the second quarter ended June 2004 against Rs. 40.9 crores in the same period of the previous year. The directors of the company have announced an interim dividend of Rs. 4 per share for 2004.

The company's net sales for the period were at Rs. 360.7 crores (Rs. 308.2 crores) and the profit before tax was higher by 16.3 per cent at Rs. 69.5 crores (Rs. 59.7 crores).

For the half year, the company's net profit was marginally lower at Rs. 74 crores (Rs. 76.6 crores) despite higher net sales of Rs. 649.1 crores (Rs 556.9 crores).

Karur Vysya Bank

Karur Vysya Bank has reported a net profit of Rs. 34.10 crores for the quarter ended June 30, 2004 against Rs. 30.50 crores in the corresponding quarter in the previous year.

Total interest income has declined to Rs. 152.19 crores from Rs. 166.79 crores. Interest income on advances and bills rose to Rs. 100.09 crores from Rs. 90.93 crores. Total income was lower at Rs. 174.90 crores against Rs. 181.12 crores. Deposits have risen to Rs. 5,652.46 crores from Rs. 5,054.34 crores. Gross advances rose by 20.22 per cent to Rs. 3,797.47 crores from Rs. 3,158.67 crores.

TVS Electronics

TVS Electronics has reported a total revenue of Rs. 70.91 crores in the second quarter ended June 30, 2004, against Rs. 61.78 crores in the corresponding quarter of last year. The profit after tax during the quarter was Rs. 1.47 crores against Rs. 83 lakhs in the corresponding quarter last year. According to Gopal Srinivasan, Director, TVS Electronics, with PC shipments expected to register over 35 per cent growth, demand for peripherals was also expected to grow at over 20 per cent.

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