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July 28, 2001, Chandigarh, India   
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CORPORATE NEWS How to
exploit WTO opportunities
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Slump
hits Haryana plan to set up IIIT City
Sub-Centre at Jalandhar planned Council
ties up with Dabur Research Premji’s
recipe for success VSNL net
down 4.54 pc, sales dip 10.19 pc Bharat
Petroleum net at Rs 223 cr PNB net
up 20 pc
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CORPORATE NEWS New Delhi, July 27 While the total revenue, including excise, rose to Rs 313.7 crore from Rs 291 crore, the net profit increased to Rs 15.8 crore from Rs 13.4 crore. Hindustan Zinc Hindustan Zinc Limited has declared 127 per cent more dividend for the year 2000-2001 compared to the previous year. The dividend of Rs 52.82 crore on equity is the highest dividend paid by the company since its inception. The Chairman and Managing Director of Hindustan Zinc. Mr K.V.K. Seshavataram presented the dividend cheque to Mr Sunderlal Patwa here. Mini Ratna The Mini Ratna under the Ministry of Mines has established a new peak in its net profit of Rs 282.22 crore in the financial year under review and accomplished about 55 per cent growth over the last financial year. The year also witnessed highest sales turnover of Rs 1613 crore registering six per cent increase over the previous year. ICICI ICICI has recorded 21 per cent increase in profit to equity holders in the first quarter. Indo Rama Indo Rama has recorded a net profit of Rs 18.74 crore for the year ended March 31, 2001 as against a loss of Rs 7.65 crore in the previous fiscal. Operating profit was also higher by 12 per cent at Rs 297.66 crore as against Rs 265.85 crore in previous fiscal. Essar Shipping Essar Shipping Limited (ESL) has posted a net profit of Rs 25.20 crore for the quarter ended on June 30, 2001, registering whopping increase of 141 per cent as against a net profit of Rs 10.4 crore reported in the corresponding period a year ago. Godrej Consumer Products Godrej Consumers Products Limited (GCPL) has shown healthy growth in its first quarter results for the period ended June 30, 2001 registering a net profit of Rs 13.8 crore. Gross Profit for the period is Rs 17.6 crore. Tata Tea net falls Tata Tea announced a net profit of Rs 15.23 crore for the first quarter ended June 30, 2001, compared to Rs 38.64 crore, registering a drop of about 60.58 per cent, against the corresponding period last year. The total income during the period stood at Rs 194.13 crore compared to Rs 192.61 crore in the same period last year. Morepen net grows Morepen Labs has registered a growth of 12.31 per cent in turnover during the first quarter of the current fiscal, compared to the corresponding period of last year. While the turnover reached Rs 117.42 crore from Rs 104.55 crore, profit after tax rose from Rs 17.85 to Rs 19.82 crore, a growth of 11.04 per cent. Colour Chem Colour Chem Ltd has posted a net profit of Rs 4.68 crore during the quarter ended June 30, 2001 registering an increase of 6.6 per cent as against Rs 4.39 crore recorded in the corresponding period a year ago. The profit before tax for the period April to June 2001 grew more than 7 per cent to Rs 6.04 crore from Rs 5.62 crore in the corresponding period of the previous year. Global Trust Bank Global Trust Bank (GTB) today announced its first quarter profit of Rs 16.30 crore after making necessary provisions and an ad hoc provision of Rs 15 crore. The profit for the quarter is lower by 56 per cent on the comparative net profit of Rs 37.16 crore for the quarter ending June 2000. “The net profit could have been higher but for such additional provisioning”.
TNS, Agencies
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How to exploit WTO opportunities THIRD, complementary to the incentives and disincentives of the market system that promote relevant shifts in the agricultural product-mix, it is necessary to take initiatives at the farm level to stimulate shifts in the production pattern leading to diversification that effectively meets the consumer demand in the globalised market. This can be brought about by converting the highly irrational input subsidies at present being provided to the farm sector into investment subsidies that promote capital formation and encourage environment-friendly and market-relevant production patterns. The object of investment subsidies should be to develop production capacities of the farm enterprises that makes their production cost-effective and improves absorptive capacity of these units for adoption of improved technologies which in turn initiates commercialisation of farming business. For instance, instead of free or highly low priced electricity supply and irrigation water to the farm sector, which is playing havoc with the sub-soil water and encourages irrational exploitation of this scarce resource, it will be more beneficial to the farmers, and socially advantageous also, if the farmers are provided with subsidies on tubewells, pump-sets, small tractors, improved implements, land levelling and land development, underground water channels, etc. This will also convert the “red box subsidies” on inputs to the green box subsidies” on investments as defined under the WTO regime. In order to promote crop adjustments and environmental corrections, subsidies can be given for shifting the land areas from under wheat and rice to the crops like oilseeds, pulses, forage crops, fruits, flowers, vegetables, etc. For instance in Punjab, if subsidies on electricity and irrigation water are withdrawn even partially, Rs 600- crore can be mobilised easily, which can be used to subsidise the shifting or area from under wheat-rice rotation to other environment and market friendly crops. This will effect a shift of 12 lakh hectares from under paddy and 12 lakh hectares from under wheat in rotation, if subsidy is provided at the rate of Rs 10,000 per hectare direct to the participating farmers. The rate of this production adjustment subsidy can be aligned to the level and type of shifts required in the production patterns. This will be highly complementary step to enhance the effectiveness of the rationalised pricing and procurement policies of the government. These steps would be consistant with the requirements of the WTO regime and will promote commercialisation of Indian agriculture. Fourth, the organisation aspect of the farm sector requires considerable reform. For commercial farming the operational units have to be large enough that are able to reap the economies of size and scale. Small and marginal farms, which comprise more than two-thirds of the farms in India, have to be, therefore, organised to operate jointly as large units both on the production as well as market front through provision of rightly priced services of lumpy resources such as tractors, implements, harvesters, thrashers, tubewell water for irrigation, overhead sprinklers, etc. This can be achieved effectively only if the ownership of these lumpy resources in the form of service centres vests with the agricultural processing units or marketing units/organisations/companies operating in the private sector or privately managed joint sector. This will be an effective way of introducing commercial content into the otherwise subsistence farm units. Fifth, There is a crying need for value addition to the farm produce. In the developed economies the agricultural commodities are cleaned, graded and packed and to a considerable extent processed at the farm level, which maintains the freshness, original flavour and aroma and improves the look of the product that generates better demand and fetches better prices. In India, most of the commodities are produced for table purposes and are sold as such. This type of production and marketing cannot become competitive in the globalised market. Farms being very small, the process of converting the raw produce into finished products must start from the market end. A responsive market can be created through the establishment of processing units in the rural areas, based on potential market demand. Agricultural raw material can be produced on contract basis in an organised manner so that the processing units are assured of adequate supply of raw produce of right quality and farmers are assured of right price and market clearance of their produce. The responsibility of procurement and supply of right type of seeds, nonconventional inputs, technical support and lifting of produce must rest with the processing plants in order to make the system successful. Sixth, the research and extention programmes have to be chiselled enough to become need based and result-oriented. India has a huge agricultural research system located primarily in the ICAR institutions and centres, CSIR institues and agricultural universities. General universities also conduct basic research that has application in the agriculture and allied sectors. Investments made and financial resources allocated to these institutions need to be reviewed carefully in order to improve the efficacy of utilization of the scarce financial resources. With the introduction of these basic reforms, the farm sector of the country can be put on a sustainable growth path that generates higher levels of income and gainful employment within the sector, becomes cost-effective and competitive in the globalised market by becoming related to the demand and supply situation in respect of kind, quantity and quality of commodities traded, and improves the meaningful mobility of labour force out of the rural areas. This is the only way to meet the challenges posed by the WTO regime and exploit the opportunities offered under the system. Concluded
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Software
exports from Punjab boom
Chandigarh, July 27 Software exports of the Software Technology Parks of India (STPI) units from the region for the first quarter (between March and June 2001) have been more than Rs 17 crore. By the year end this figure is likely to increase by at least five times. Total exports for the year 2000-01 were registered at Rs 52. 19 crore as compared to Rs 14.79 crore in 1999-2000. "Growth potential is tremendous and most of the units in the region are receiving orders in much greater quantity than their other offices in the country", said Dr Sanjay Tyagi, Additional Director, STPI, Mohali. He says though the share of the companies from the region in the total software exports is not major "but the pace at which growth is taking place is definitely an indication that the region will become the Silicon Valley of the northern part of the country". Software exports are likely to cross the Rs 100 crore mark by the end of the year, say officials. The performance of the software companies in the state has inspired the industry captains to rededicate themselves to the objective of making Punjab the Silicon Valley of North India. The fact that more than 500 software companies are in the pipeline ready to set up shop in Punjab is an indication of the rosy IT scenario. The software exports of the STPI have registered an increase of almost Rs 4,000 lakh within a year. This increase was Rs 700 lakh last year . While the exports in 1999-2000 were Rs 1.79 crore, in 1998-99 these were Rs 777.17 lakh . This increase has been recorded even when a large number of companies registered here are yet to start operations. Officials claim the situation would further improve with the coming of more software companies in the region. While 150 companies have already started operations, this number is expected to be more than 200 by the end of the year. Äs per official information, the STPI office here is receiving three to four applications daily for setting up of IT ventures. For the quarter ending June 2001, of the Rs 17.3 crore software exports, the maximum share was that of Tata Interactive Systems which recorded exports of Rs 498.18 lakh. The share of Infosys during this period was Rs Rs 420.77 lakh whereas that of Quark was Rs 386.01 lakh. Other major exporters were IDS Infotech with Rs 286.60 lakh exports, Smart Data, Future Computer Solutions and Net Soft Informatics. R Sqare Info Systems, Drish Infotech, Latec Software, Selective Minds, Solar Innovations are a few of the other exporters. The USA, the UK and Germany have hogged the major chunk of software exports. |
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Slump hits Haryana plan to set up IIIT Chandigarh, July 27 The IIIT was part of the ambitious IT policy announced by the state government and initially the state government had struck a deal with a Singapore-based company, Edutech, for setting up the IIIT as a joint venture. The IT department was reportedly even asked by the state government back in September, 2000, to start enrolling students for the IIIT. However, with the agreement with the Singapore-based outfit falling through, the state government is reportedly yet to find a suitable co-sponsor for launching the project. Negotiations were reportedly held with the IBM, the Cisco, the Tatas, Infosys and other IT companies. But none was eager to come forward to take part in the project allegedly due to the worldwide slump in the IT sector. The state government, initially wanted to wait till the IT sector was revived and then start tapping various companies for funding the IIIT which was to turn out trained manpower for the IT sector of Haryana. However, with the IT sector still struggling for a revival, the state government has decided to set up an institute at Gurgaon. The institute will be far smaller in magnitude than the IIIT and it will offer short term courses of IT education. “We want to set up the institute by December. This institute will gradually grow up to be an IIIT with participation from the private sector”, a senior official said. While uncertainty is hanging over the formation of the proposed IIIT , official sources claim that various other steps are being initiated by the state government to train the local youths in IT to make them eligible for the jobs available in this sector. Sources said a total of 10 centres, seven competency centres by the IBM, two authorised centres by the Microsoft and one centre by the Cisco, would become functional shortly to provide training in IT to the local boys and girls. Moreover, in every technical institution of Haryana offering degree or diploma in technical education, there will be a compulsory course in IT and computer education in one semester. The state government is also slated to open Internet clubs in the hostels on engineering colleges in the pattern of the IITs, and a beginning in this direction will be made by having Internet clubs at the hostels of the engineering college at Kurukshetra. While 6825 people were trained in computer and IT in various recognised institutions in Haryana last year, the number is proposed to be increased to 8695 in 2001-2002. The intake in the courses offered by Hartron is also proposed to be increased to 4000 from 3720 trainees last year. The state government is reportedly also exploring the possibility of having special chairs set up by private companies in the educational institutions of the state for offering training in computer and IT. |
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City Sub-Centre at
Jalandhar planned Chandigarh, July 27 A 120 feet-wide road on the north, 100 feet-wide road on the east and 60 feet-wide road along the Southern- Eastern boundaries had been planned. The Chief Administrator of PUDA, Mr KBS Sidhu said the parking area had been planned along the periphery and would be equally distributed to have easy accessibility to the shopping area. The shop-cum-offices and shop-cum-flats in various blocks would open towards the parking areas on one side and towards the pedestrian piazza on the other side. Mr S.L. Kaushal, Senior Architect, said the commercial centre comprising of four and six storeyed SCO’s and SCF’s , cinema, multiplex and booths had been planned to create hierarchy of urban space in proportion to the scale required by the activity around. The piazza would have a amphitheater for performances. Kiosks selling eatables would further add to the activity of the commercial centre. Open to sky quadrangles, surrounded by linking corridors would provide light and ventilation to the blocks . Mr Jeet Gupta, Senior Town Planner in PUDA, said the modular construction in the commercial centre would be governed by architectural control to have terraced blocks with vaulted facade. The ground and the first floor in various blocks would be used for shops . At least 131 commercial sites consisting of SCO’s, SCF’s, booths, multiplex and hotels had been planned. |
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Council
ties up
with Dabur Research New Delhi, July 27 The agreement is aimed at undertaking further research and development work in respect of sunthi (Ginger) based formulations developed by the CCRAS for the treatment of rheumatoid arthritis. Speaking on the occasion, Mrs Shailaja
Chandra, Secretary, Department of ISM&H, termed the agreement as an encouraging step towards the joint efforts of the government and the industry in providing better healthcare to the people. She expressed confidence that more companies will come forward for such joint efforts. Dr G.
Veluchammy, Director, CCRAS, also spoke on the occasion. The council is an apex body for the formulation, co-ordination, development and promotion of research on scientific lines in Ayurveda and
Siddha. The Council also finances research units of institutions of Ayurveda and Siddha for finding effective and low cost remedies for various diseases. |
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Premji’s recipe for success Chennai, July 27 “You should dare to dream, define what you stand for, never lose your zest and curiosity, always strive for excellence, build selfconfidence, learn to work in teams, take care of yourself, preserve, have a broader social vision and finally never let success go to your head”, Premji said. The Wipro Chairman was delivering the convocation address at the 38 the convocation of the Indian Institute of Technology (IIT) Madras, here. He said these were the few lessons he had learnt in his own life while leading the transformation at Wipro, from a small company three and half decades back into a global corporation listed on the New York Stock Exchange. “When I entered Wipro at the age of 21, I had no warning of what lay ahead of me. All I had with me was a dream, a dream of building a great organisation” he said. “Today we have a dream of becoming one of the top ten global IT service companies,” he added.
PTI |
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VSNL net
down 4.54 pc, sales dip 10.19 pc Mumbai, July 27 Net sales in Q1 were also lower by 10.19 per cent at Rs 1,528.3 crore as against Rs 1,701.8 crore in the quarter ended June 30, 2000. Other income stood at Rs 113.8 crore as against Rs 155.2 crore in Q1 of last year, it said. The net profit for the current quarter has been arrived at after considering prior period item of Rs 22.9 crore, it added.
PTI
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Bharat Petroleum net at Rs 223 cr Chandigarh, July 27 The net profit for the quarter is Rs 223 crore as against Rs 188 crore during the corresponding period of the previous year. There is a reduction in depreciation charge during the quarter due to lower procurement of LPG cylinders. However, BPCL continues to provide depreciation on LPG cylinders at 100 per cent complying with the new. Accounting Standard, BPCl has provided deferred tax liability of Rs 43 crore for the quarter. EPS at Rs 7.43 is higher than the Rs 6.25 for the corresponding quarter in the previous year. |
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PNB net up 20 pc New Delhi, July 27 Net profit at the end of the quarter end June 30, 2001 stood at Rs 168.66 crore as compared to Rs 140.46 crore in the first quarter of the last fiscal. Gross profit during the first ended June 2001 was Rs 422.58 crore , compared to Rs 331.39 crore in the corresponding period last year, clocking a growth of 27.5 per cent. Total income increased from Rs 1604.25 crore in three months ended June 2000 to Rs 1836.70 crore in the three months ended June 2001, registering a growth of 14.5 per cent.  |
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NIIT’s fast-track CII meeting New Ariel Xerox Acme Amartex outlet |
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