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Satyam net up 66.4 pc
Dabur aims to double exports
TRAI broadband report this week
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Indian tax regime keeps Siemens away
Infosys to add more than 8,000 workers
HCL Infosystems posts Rs 36.35 cr profit HCL Infosystems Ltd has posted a net profit of Rs 36.35-crore for the quarter-ended March 31, 2004 (MQ-04) as compared to a net profit of Rs 24.33-crore for the quarter-ended March 31, 2003 (MQ-03).
Career book released
Pharmaceutical major Ranbaxy Laboratories today reported a rise of 10 per cent in net profit at Rs 190.6 crore in the first quarter ending March 31, 2004 as against Rs 172.9 crore in the corresponding quarter previous year.
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Satyam net up 66.4 pc
New Delhi, April 22 Total Income of the company increased 27.8 per cent year-on-year to Rs 727.74 crore in January-March 2004. For the year ended March 31, 2004 Satyam posted 47.9 per cent increase in net profit to Rs 513.3 crore. Total income of the company increased 16.5 per cent year-on-year from Rs 2261.54 crore in FY-03 to Rs 2635.5 crore in FY-04. Earning per share (EPS) of Satyam in 2003-04 was Rs 17.64, representing a growth of 20.66 per cent year-on-year. The company has announced a final dividend of 140 per cent for the financial year 2003-2004. Including the interim dividend of 60 per cent, the total dividend for 2003-04 works out to 200 per cent against 150 per cent declared for the last year. For the fiscal 2005, the company gave a guidance of 28-30 per cent growth in income from software services to Rs 3,097 crore and Rs 3,146 crore. The EPS for 2004-05 is expected to be between Rs 20.28 and Rs 20.62. The revenue forecast for the quarter ending June 30, 2004, indicates a growth in the range of 4.5-5 per cent and is expected to be between Rs 728 crore and Rs 732 crore. The EPS for the quarter is expected to be between Rs 4.76 and Rs 4.78. Satyam added 30 customers during the fourth quarter of 2003-04, including eight from the Fortune Global 500 list. The total customer additions during the year were 108, including 20 Fortune Global 500 Companies. The company added 1685 associates — including 1145 freshers — which is the highest quarterly addition by the company in its history. During the quarter, Satyam strengthened its automotive business outside the US with the addition of a leading Japanese auto manufacturer and by commencing work for the European operations of a US based OEM. Satyam was selected by a US Global Top 10 pharma company to optimise and automate their Laboratory Data Acquisition Systems. Satyam’s Business Intelligence and Data Warehousing Practice was entrusted with the entire data warehouse support for a US Telecom Equipment Major and has successfully migrated a legacy system to data warehouse for a major Telecom Service provider.
— UNI
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Dabur aims to double exports
Dubai, April 22 “We have drawn an aggressive plan to launch Dabur and Vatika globally, starting from the Middle East, Gulf Cooperation Council and SAARC countries. We will leverage the brand equity of these two brands in the region and offer a range of existing and new products under these brands,” said Arvind Kumar, CEO of Dabur International Limited. This will make judicious involvement of business partners; investments in brand building; new product introductions and adequate management attention to develop markets for these brands,” he said, adding the strategy evolves around developing critical mass, creating structure and chalking out ways for integration through market definition and branding. “The entire plan will be executed in the next two years by when we hope to double the export turnover from about Rs 86 crore in 2003-04,” he said, adding, export turnover in 2002-03 stood at mere Rs 29 crore. Kumar, who heads Dabur International, the Dubai-based International Business Division and 100 per cent subsidiary of Dabur, one of the largest FMCG companies in India with a consolidated turnover of Rs 12 billion ($ 260 million), said the increase in exports during last fiscal was largely on account of acquisition of UK-based Rodrick Limited at an investment of about $ 5 million. Dabur India has been selling its product in Dubai and GCC countries since 1992 through a franchise —Redrock Limited. Post this acquisition, Dabur had set up Dabur International Limited and appointed a CEO for this business, which is the hub of Dabur India’s international business.
Amitabh Bachchan
After successfully campaigning for Dabur’s healthcare brands in India, Amitabh Bachchan will now be promoting these products in the international markets, initially in Gulf countries. “In the beginning, Bachchan will promote Dabur Chyawanprash, Glucose and Hajmola in Gulf countries and Bangladesh. Later, the Bollywood star will also campaign for these products in Egypt and Nigeria.” Last year, Dabur India signed Big B to endorse its range of healthcare products for Rs 8 crore. Besides India, Bollywood actress Rani Mukherjee will also promote Dabur products in the global markets, including the Gulf countries. Recently, Dabur struck the Rs 2.5-3 crore deal with Rani for endorsing its haircare products.
— PTI, UNI
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TRAI broadband report this week New Delhi, April 22 TRAI Chairman Pradip Baijal said the paper has been drafted after extensive consultation with the industry and aims at facilitating last mile connectivity. Speaking at a conference organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here today, Mr Baijal said the paper would focus on increasing the Internet penetration in the country. He said in Korea broadband penetration has witnessed has increased significantly from one per cent to 25 per cent currently and a similar growth rate was required for India. Regarding the issue of increasing the sectoral cap from present 49 per cent to 74 per cent, the TRAI Chairman said it can only be done gradually. “It is like an evolution,” he said. On the issue of networks, Mr Baijal said the operators needed to play an aggressive role so that the bottlenecks could be taken care of. He also indicated that national roaming should be made mandatory and integrated in the present network structure. A final decision in this regard, however, will be taken only after due consultations.
Telecom Regulatory Authority of India (TRAI) Chairman Pradip Baijal today said national roaming should be made mandatory for all cellular service providers. The facility should be integrated in the present network structure, he said while addressing a conference on South Asia Communication Infrastructure. However, a final decision in this regard would be taken only after due consultations. On the demand for raising the sectoral FDI cap from the present 49 per cent to 74 per cent for foreign institutional investors (FIIs), Mr Baijal indicated it can be done only gradually. “It is like an evolution,” he said. The conference was organised by the US Trade and Development Agency and co-sponsored by FICCI.
— UNI
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Indian tax regime keeps Siemens away
New Delhi, April 22 The idea of manufacturing handsets in India has been discussed within Siemens in detail but conditions prevailing within the country have so far proved a dampener to the German company’s plans, according to sources. The sources said that smuggling and dumping of low-priced handsets in India, and tax regime has failed to draw manufacturers to the handset business in
India. Siemens has also taken up the issue of impediments in manufacturing of handsets in India at various forum and with the government. “At present nothing that goes in to manufacturing of a mobile phone set is made in India. If Siemens imports the components and assembles handsets in India, it will not make business sense because of the duties. Any manufacturer of handsets will set up a base in India and make a huge commitment only when the environment actively encourages it,” according to the
sources. Siemens plans to launch EDGE-enabled handsets in India next month. The handset has already been launched globally last month. “The handset is likely to be priced at below Rs 10,000,” the official said.
— UNI
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Infosys to add more than 8,000 workers
Mumbai, April 22 The company’s plan to become a global major and consolidate its presence in India called for investment in employees, he told reporters. The stress would be on Global Delivery Model (GDM), Nilekani added. Infosys would recruit from all over the world, he said, adding the recent acquisition of the Australian firm - Expert Information Service - had resulted in the company getting 330 Australian staff. The company, which had hired a top-level manager each from Deloitte, EDS Consulting, Ernst and Young, and Global CRM to head its consultancy wing, would be focussing on attaining a “rapid growth and global leadership”, he said. The IT company’s total workforce stood at 25,000 as on March 31, 2004. The company intends to focus on customer relation management sector and offer vertical solutions, in an attempt to leverage its global capabilities, he said. Infosys Consulting had yet to get a client, but getting clients was “only a matter of time”, he said. He did not say what the business target was.
— PTI
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HCL Infosystems posts Rs 36.35 cr profit
Mumbai, April 22 Total income has increased from Rs 340.47-crore in MQ-03 to Rs 432.31-crore in MQ-04. Meanwhile, the board of directors (BoD) of HCL Infosystems Ltd have approved the payment of 60 per cent 3rd interim dividend on the paid-up share capital of the company for the year 2003-2004. The group, in the consolidated results, has posted a net profit of Rs 55.47-crore for the quarter-ended March 31, 2004 (MQ-04) as compared to a net profit of Rs 55.64-crore for the quarter-ended March 31, 2003 (MQ-03). Total income has increased from Rs740.37-crore in MQ-03 to Rs1, 202.73-crore in MQ-04.
Merck
Merck Ltd has posted a net profit of Rs 14.34 crore for the quarter ended March 31, 2004, as compared to a net profit of Rs 7.42 crore in the quarter ended March 31, 2003. Informing the BSE, Merck said its total income (net of excise) has increased from Rs 78.40 crore in MQ-03 to Rs 85.90 crore in MQ-04.
— PTI, UNI
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Career book released Chandigarh, April 22 Speaking on the occasion, Major (retd) Gulshan Sharma, executive director, ITFT, said that the need of the hour is to attract foreign students to this region. He said tourism, on a whole, generated revenue of Rs 3812 crore for India and that the education industry is a big contributor to foreign exchange. At present nearly 10,000 foreign students are studying in India who mainly come from Nepal, Bhutan, Middle East and Africa. Major Sharma said just 110 foreign students registered with Panjab University, Chandigarh, in academic session 2003-04. Their number was 187 three years ago, he disclosed and added that the main reasons for the decline in their enrolment are fee hike, negative impression about socio-political situation and the attitude of locals. An interesting fact that the VCshared at the presentation was that fashion technology courses are finding more takers than the engineering ones. He emphasised on the need to propel Punjab towards being a ‘knowledge’ society.
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Super Bazar fate uncertain
New Delhi, April 22 Earlier, the National Consumer Cooperative Federation (NCCF) under the Ministry, controlling Super Bazar, had deputed ICICI Bank for preparing a package for its revival. The package, which fixed the liability at Rs 100 crore, suggested for changing its brand to Super Bazar Plus and getting its premises in upmarket Connaught Place area a free-hold status which has been leased out by the NDMC. All these proposals call for identification of the source for meeting the liability as well as corpus for the fresh investments for expediting its revival which requires Cabinet approval, said Mr Navin Chawla, Secretary, Consumer Affairs.
— UNI
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Ranbaxy net spurts 10 pc
New Delhi, April 22 The company’s consolidated sales grew by 18 per cent to Rs 1307.9 crore in the first quarter of 2004 from Rs 1110.2 crore in the corresponding quarter previous year, a Ranbaxy release said here today. Ranbaxy witnessed a growth of 17 per cent in net profit at Rs 759.4 crore for the year ending December 31, 2004 over a turnover of Rs 4530.1 crore which grew 22 per cent from Rs 3713.8 crore. The company declared a final dividend of Rs 12 per share, it said. Commenting on the results, company Joint Managing Director and Chief Executive Officer designate Brian Tempest said “the company had witnessed an overwhelming performance in US and Europe which was a good beginning for the year”.
Vijaya Bank Vijaya Bank today reported a net profit of Rs 411.31 crore for the year 2003-04, a growth of 109.25 per cent over Rs 196.56 crore registered for the previous year. The bank registered a total deposit growth of 23.47 per cent to touch Rs 21,015 crore in 2003-04, while gross advances grew 38.50 per cent to touch Rs 11,335 crore, Vijaya Bank Chairman and Managing Director M.S. Kapur told reporters here.
Nicholas Piramal Nicholas Piramal India Limited (NPIL) has crossed the significant landmark of Rs 1 billion in export sales. The operating profit before exceptional items and tax also crossed Rs 2 billion milestone. For the full year NPIL has registered a 31.6 per cent growth in Net Sales (from Rs 9642.3 million in FY 02-03 to 12690.5 million in FY 03-04) and 59.2 per cent growth in Net Profit (From Rs 1181.1 million in FY 02-03 to 1880.1 million in FY 03-04).
Indo Rama Indo Rama Synthetic today reported a jump of 37.57 per cent in the net profit to Rs 171.71 crore during 2003-04 and announced a dividend of 20 per cent. The company’s sales, however, rose marginally to Rs 2196.41 crore in 2003-04 as against Rs 2,173.05 crore in the previous years, O P Lohia, Managing Director of Indo Rama Synthetic said here. “This is the first year of operations of Indo Rama Synthetic after the de-merger of the spinning operations into a separate company. The buoyancy in the annual results reflect our strong position,” Lohia added.
— Agencies
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