The Hindu : Business : India Cements reduces losses

Online edition of India's National Newspaper
Saturday, Jan 22, 2005

Business

Business

India Cements reduces losses

The sales and other income of India Cements for the nine-month period ended December 2004 stood at Rs. 1,003.76 crores against Rs. 889.78 ccrores. The profit before interest, depreciation and exceptional items, was Rs. 115.55 crores against Rs. 72.33 crores. Interest charges claimed Rs. 124.08 crores (Rs. 118.27 crores). The provision for depreciation is Rs. 60.61 crores (Rs. 61.14 crores). The net loss before exceptional items stood at Rs. 69.14 crores against a net loss of Rs. 107.08 crores in the same period in the previous year. During the corresponding period last year, there was an extraordinary income of Rs. 21.81 crores representing reduction in interest charges under the corporate debt restructuring package relating to January-March 2003 period.

Orchid Chemicals

Orchid Chemicals and Pharmaceuticals reported an operating income of Rs. 172.26 crores for the quarter ended December 2004 against Rs. 172.86 crores in the same period in the previous year. The net profit was placed at Rs. 5.76 crores (Rs. 8.41 crores). The operating income for the nine-month period stood at Rs. 509.89 crores (Rs. 511.76 crores) and the net profit at Rs. 14.41 crores (Rs. 23.27 crores).

Polaris Software

Polaris Software reported a revenue of Rs. 209.20 crores in the third quarter ended December 31, 2004, up from Rs. 165.03 crores in the same period in the previous year. The operating profit for the period under review stood at Rs. 34.74 crores (Rs. 34.91 crores). The net profit stood at Rs. 18.27 crores (Rs. 23.26 crores). For the nine-month period ended December 2004, the company recorded a revenue of Rs. 590.69 crores (Rs. 472.12 crores). The profit for the period was Rs. 55.70 cores (Rs. 61.35 crores). There was a rise in expenses across major heads such as software development, general administration and selling and marketing. The repeat business accounted for 84 per cent the revenue in third quarter.

EID Parry

EID Parry reported a turnover of Rs. 189.17 crores (Rs. 142.85 crores) for the quarter ended December 2004. The profit before tax was Rs. 20.75 crores (Rs. 3.27 crores). After providing Rs. 2.95 crores towards taxation, the profit after tax stood at Rs. 17.80 crores (Rs. 1.67 crores). For the nine-month period, the turnover stood at Rs. 482.87 crores (Rs. 400.64 crores). The profit before tax was Rs. 83.38 crores (Rs. 29.32 crores).

The profit after tax stood at Rs. 67.72 crores (Rs. 20.42 crores). Almost all the divisions — sugar, parry ware and bio-products contributed to both top as well bottom lines. Even interest charges have come down, resulting in a positive fallout on the company's performance.

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