VisualSoft to pay 30 p.c., 2:1 bonus

VisualSoft Technologies has more than doubled its total income to Rs. 70.24 crores in the year ended March 31, 2000 from Rs. 30.82 crores and the net profit before depreciation and taxation has risen more than two-fold to Rs. 31.92 crores from Rs. 13.21 crores in the previous year.

The turnover includes the product related sales of Rs. 33.39 crores. Depreciation claimed Rs. 2.20 crores (Rs. 1.26 crores) and taxation Rs. 75.71 lakhs (Rs. 15 lakhs).

The net profit has risen sharply to Rs. 28.18 crores from Rs. 11.61 crores. The paid-up capital is Rs. 6.55 crores while reserves excluding revaluation reserves were Rs. 80.88 crores against Rs. 13.49 crores. A dividend of 30 per cent has been announced.

The company has also recommended liberal issue of bonus shares in the ratio of two shares for every equity shares held. Net earnings work out to Rs. 43.33 per share against Rs. 18.58 in the previous year.

The company commissioned a new state-of-the art facility at Begumpet, Hyderabad was inaugurated in February this year.

HCL Tech

HCL Technologies achieved a 150 per cent rise in net profit to Rs. 65.43 crores during the third quarter ended March 31, 2000, from Rs. 26.14 crores in the same period last year. The revenue for the third quarter increased by 23 per cent to Rs. 235.96 crores from Rs. 192.43 crores.

In the nine months ended March the net profit was Rs. 146 crores against Rs. 59.94 crores on a revenue of Rs. 633 crores (Rs. 526 crores). With focus now on the European market, HCL' revenue from North America came down to 68 per cent during third quarter as against 72 per cent in the corresponding period last year.

HCL Infosystems

HCL Infosystems reported a 15 per cent jump in net profit at Rs. 16.2 crores in the third quarter ended March 31, compared to Rs. 13.98 crores in the same period last year.The turnover rose by 27 per cent to Rs. 318.2 crores from Rs. 251.4 crores during the same period last year.

During the first nine months, the net profit rose by 27.67 per cent to Rs. 52.84 crores from Rs. 41.39 crores during the same period last year.Sales grew by 17 per cent to Rs. 803.6 crores during July-March against Rs. 687.5 crores in the corresponding period in the previous year.

Cadbury

Cadbury India has posted a net profit of Rs. 10.66 crores for the first quarter ended March 31, 2000, against Rs. 9.27 crores last year. Net sales were up by 20.06 per cent at Rs. 139.34 crores against Rs. 116.05 crores in the corresponding period last year, according to unaudited results released after the board meeting here today. The net profit also includes Rs. 16 lakhs towards voluntary retirement scheme, the release said.

The board had recommended a dividend of Rs. 6.50 per share for the period January 3, 1999 to January 2, 2000, the release added.

Indian Rayon

Indian Rayon and Industries, the flagship company of the Aditya Birla group has announced a loss of Rs. 241.23 crores for the year ended March 31, 2000 against a loss of Rs. 106.04 crores in the previous year. The directors have announced a lower dividend of 10 per cent for the year against 40 per cent in the previous year. The dividend will absorb Rs. 5.99 crores.The turnover was lower at Rs. 1,186.95 crores against Rs. 1,466.62 crores. After providing Rs. 115.05 crores (Rs. 162.09 crores) for excise duty, the net turnover amounted to Rs. 1,071.9 crores (Rs. 1,304.53 crores). The operating profit was Rs. 205.32 crores (Rs. 322.63 crores) and the gross profit Rs. 131.08 crores (Rs. 206.06 crores). Depreciation charges were Rs. 72.5 crores (Rs. 90.7 crores).

The company's net profit was impacted negatively due to the provision of Rs. 298.82 crores (nil) as one time non-cash loss on the assets of sea water magnesia plant by bringing down the value of the assets to their realised / realisable value on the closure of the plant.Castrol

Castrol India has announced a net profit of Rs. 44.04 crores for the quarter ended March 31, 2000 against Rs. 42.14 crores in the corresponding period of the previous year. For the quarter, the company's net sales were higher at Rs. 280.65 crores against Rs. 249.94 crores. Other income amounted to Rs. 11.67 crores (Rs. 4.78 crores).After providing Rs. 1.14 crores (Rs. 62 lakhs) for interest, the gross profit was Rs. 57.67 crores (Rs. 56.36 crores). The company provided Rs. 2.71 crores (Rs. 2.31 crores) for depreciation and Rs. 10.92 crores (Rs. 10.91 crores) for tax.

IDBI Bank

IDBI Bank has announced a net profit of Rs. 60.99 crores for 1999-2000 against Rs. 30.76 crores in the previous year. The directors have recommended a dividend of 12 per cent (9 per cent).

During the year, the bank's interest income was higher at Rs. 423.78 crores (Rs. 295.01 crores) and other income at Rs. 55.14 crores (Rs. 28.88 crores) giving a total income of Rs. 478.92 crores (Rs. 323.89 crores). Total expenditure was Rs. 386.99 crores (Rs. 279.68 crores). The bank's gross profit has risen to Rs. 91.93 crores from Rs. 44.21 crores. Depreciation on fixed assets was Rs. 8.29 crores (Rs. 5.71 crores), provisions for contingencies Rs. 5.33 crores (Rs. 3.3 crores) and provision for taxes Rs. 17.32 crores (Rs. 4.44 crores).

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