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Ashok Leyland Q1 profit doubles

Ashok Leyland has reported a net profit of Rs. 31.94 crores for the three months ended June 30, 2004 against Rs.14.81 crores in the corresponding period in the previous year, a growth of 116 per cent. Gross sales have risen to Rs.943.62 crores from Rs. 684.47 crores and the net sales to Rs. 821.19 crores from Rs.589.64 crores. The gross profit has increased to Rs. 74.97 crores from Rs. 45.31 crores. The profit, before tax and extraordinary items stood higher at Rs. 50.98 crores against Rs. 22.32 crores.

MRF

MRF Limited has increased it net sales and income from operations to Rs. 774.99 crores in the third quarter ended June 30, 2004 against Rs. 643.80 crores and the profit before tax stood at Rs. 25.47 crores against Rs. 20.90 crores in the same period in the previous year The net profit after tax stood at Rs. 17.09 crores against Rs. 15.33 crores. The directors have declared an interim dividend of 30 per cent for the year ending September 30, 2004.

Andhra Bank

Andhra Bank has reported a 26.5 per cent growth in its net profit to Rs. 150 crores, but total income fell marginally to Rs. 755 crores for the quarter ended June 30, 2004. The net profit was Rs. 118 crores and income Rs. 758 crores in the corresponding quarter of the previous year. The net NPA declined to 0.85 per cent from 1.72 per centDeposits showed a 6.8 per cent rise to Rs. 22,580 crores, says a bank release.

Divi's Laboratories

Divi's Laboratories has reported an income of Rs. 66.11 crores and a lower net profit of Rs. 14.33 crores for the quarter ended June 30, 2004 against Rs. 66.93 crores and Rs. 15.14 crores respectively in the corresponding period of the previous year.

India Motor Parts

India Motor Parts and Accessories (Impal) has reported net sales of Rs. 55.66 crores in the three months ended June 30, 2004 against Rs. 46.61 crores in the same period in the previous year. The profit before tax stood at Rs. 4 crores against Rs. 3.31 crores and the profit after tax at Rs. 2.54 crores against Rs. 2.15 crores. Net earnings work out to Rs. 12.20 per share against Rs. 10.33 in the year-ago period.

Sundaram Brake Linings

Sundaram Brake Linings has achieved higher net sales of Rs. 32.22 crores in the quarter ended June 30, 2004 against Rs. 27.94 crores and the gross profit before depreciation and interest charges to Rs. 5.01 crores from Rs. 3.64 crores.

The net profit after tax stood at Rs. 2.58 crores against Rs. 1.95 crores.

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