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Wednesday, April 24,
2002, Chandigarh, India  
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Reliance Ind net rises 6.35 pc
Drive against Bt cotton in North
Tourism Policy draft prepared
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Travel Mart
on April 26 Chandigarh, April 23 India Travel Mart, a three-day travel and tourism exhibition will be held in Chandigarh on April 26. Tour operators, hotels, travel agents and airline companies from more than 10 states will participate in the exhibition which is aimed at providing information about travel destinations within and outside India and providing business platform to the participants, said Mr Ajay Gupta, Managing Director, India Travel Mart.
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Reliance Ind net rises 6.35 pc Mumbai, April 23 Sales/income from operations in the period under review was lower by 5.61 per cent at Rs 24,286 crore as against Rs 25,731 crore in last fiscal. Trading sales were down to Rs 746 crore (Rs 2,277 crore in FY-01). The company’s production, including toll conversion, increased to 11.5 million tonnes in FY-02 (10.4 MT), RIL, which has merged RPL with itself, said in a release here today. Manufactured exports, including deemed exports, stood at Rs 3,058 crore (Rs 2,960 crore). For the fourth quarter ended March, 2002, the net profit declined by 11.46 per cent at Rs 672 crore (Rs 759 crore in Q4 of last fiscal) while sales/income from operations stood at Rs 6,195 crore (Rs 6,444 crore). In FY-02, the company earned an extraordinary income of Rs 358 crore from the divestment of equity shares in Larsen & Toubro. On consolidated basis, RIL posted a net profit of Rs 3,678 crore and Rs 883 crore in FY-02 and Q4, respectively. Sales/income from operations for fiscal stood at Rs 24,293 crore while it was Rs 6,198 crore in fourth quarter. RIL Managing Director Anil Ambani said “the year was characterised by uneven demand conditions, increased volatility in feedstock prices and sharp declines in our product selling prices, as a result of global capacity additions. Ambani said investments in oil and gas exploration, production and the infocom sector together with the proposed entry into the retail marketing of petroleum products are expected to generate attractive returns, thereby contributing to maximisation of overall shareholder value. Depreciation for the year was higher at Rs 1,735 crore as against Rs 1,565 crore, owing to the change in the basis of providing depreciation from straight-line method to written down value method in respect of certain assets at Jamnagar, RIL said, adding that the additional charge to the profit and loss account for the year owing to this was Rs 230 crore. Oil and gas production, which account for 3 per cent of RIL’s revenues during the year, was 4.11 lakh tonnes and 6,66,500 tonnes, respectively. |
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Reliance Petro net grows 14.34 pc Reliance Petroleum Ltd (RPL) has posted a 14.34 per cent rise in the net profit at Rs 1,674 crore for the year ended March 31, 2002, as compared to Rs 1,464 crore in the previous fiscal. Sales were up by 6.95 per cent during the period under review at Rs 33,117 crore as against Rs 30,963 crore the previous year. During the year, the capacity utilisation of the Jamnagar refinery was at a record level of 107 per cent, processing 28.96 million tonnes of crude as against 25.7 MT last year, RPL said in a statement here today. Exports of RPL products to the USA, Europe and Japan were the highest at Rs 8,476 crore. RPL, which had merged with Reliance Industries during the fourth quarter netted a higher profit after tax at Rs 405 crore (Rs 384 crore) while sales increased to Rs 7,620 (Rs 7,506), it said. The company said it has made a provision of Rs 98 crore towards taxes for 2001-02 (Rs 117 crore). Other income in fiscal and Q4 stood at Rs 355 crore (Rs 220 crore) and Rs 157 crore (Rs 66 crore), respectively. The other income during Q4 includes Rs 53 crore insurance claim received against start up expenses and others like losses caused by the January earthquake. RPL Managing Director Anil Ambani said the company’s performance has been possible owing to its inherent operational strengths. Ambani was of the view that RPL’s merger with RIL would create an enterprise of truly global scale with enhanced financial strength and resources to pursue future growth opportunities, thereby enhancing overall shareholder value. RPL said notwithstanding the short-term sluggishness in demand for some products, the medium to long term outlook for overall demand for petroleum products in India remains strong. The company said it has obtained marketing rights for sale of aviation turbine fuel (ATF) in the domestic market while it has applied for marketing rights for motor spirit and high speed diesel as it meets all the criteria specified by the government. |
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Reliance Cap net jumps 8.31 per cent Reliance Capital has posted a 8.31 per cent increase in the net profit at Rs 101.22 crore for the year ended March 31, 2001, as compared to Rs 93.45 crore in the last year. The Board has recommended a 29 per cent dividend (Rs 2.90 per share) for the financial year 2001-02, the company said in a release here today. The net income from operations grew to Rs 136.58 crore for 2001-02 while it stood at Rs 128.43 crore in the previous fiscal, it said. The company said it had changed the basis of providing depreciation from straight-line method to written down value method in respect of buildings. For the fourth quarter ended March 2002, the company’s net profit slumped by 6.36 per cent to Rs 25.75 crore as against Rs 27.5 crore in the corresponding period last fiscal. The total income has increased from Rs 129.7 crore in Q4 2000-01 to Rs 138.87 crore in the quarter ended March 31, 2002, the release added.
PTI
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Drive against Bt cotton in North New Delhi, April 23 The Union Agriculture Minister, Mr Ajit Singh, told a meeting of the Consultative Committee attached to his Ministry here today that the Centre is holding discussions with Northern states like Punjab, Haryana and Rajasthan and apprise them that the Bt cotton variety approved recently for southern and western India should not be cultivated in these Northern states. He informed the members that the Indian Council of Agricultural Research was going to conduct trials on the Bt cotton variety, which would be suitable for North India, in several locations and the results would be known soon. Mr Singh informed the members that India was likely to develop transgenic cotton within three years. Indicating that India was quite ahead in developing transgenic crops, the Minister said that biotechnological research for the improvement of fruit crops such as mango, banana, citrus fruits, grapes and pineapples was in its early stages of development. He said Indian agricultural scientists had recently isolated a gene part called promoter from the tomato plant which could be used in modified form for delaying fruit ripening. This technology can be extended to a number of perishable fruits and vegetables. The Minister said that extensive and rigorous testing of each transgenic crop by the regulatory agencies in India could ensure that these products are not released unless they are proven bio-safe. Mr Ajit Singh said that as an intelligent society we have the responsibility to rationalise the risks based on scientific data and benefits to society and then make sensible decisions. He emphasised that India with a 70 per cent rural base has to provide greater emphasis to
agricultural biotechnology since the country has to enhance its farm productivity per unit land, water and capital without harming the ecosystem.
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Tourism Policy draft prepared New Delhi, April 23 This was disclosed today by Tourism Minister Jagmohan in a written reply in the Rajya Sabha. The minister said that the policy also aims to give impetus to rural tourism, domestic tourism and positioning India as a global brand to take advantage of the burgeoning international trvel ad trade. It also acknowledges the critical role of the private sector, with the government working as facilitator and catalyst, for developing integrated tourism circuits.
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Travel Mart
on April 26 Chandigarh, April 23 The exhibition will help the participants improve their business contacts, find potential joint ventures and publicity of their packages and direct interaction with customers. For the first time Tamil Nadu, Pondicherry and Andhra Pradesh will also participate in this exhibition, said Mr Gupta.
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