|Saturday, January 22, 2000,
PC sales grow by 45 pc in first
Sun Pharma to consider bonus
IT giants live up to expectations
BANGALORE, Jan 21 (PTI) Wipro has recorded sales and other income of Rs 1,562 crore for the nine-month period ending December 1999, up by 28 per cent over the corresponding period in 1998-99.Wipro said in a release here that its profit after tax was Rs 203 crore, a 118 per cent rise from Rs 93.10 crore over the corresponding period last year.
At its board meeting here today, its Directors approved the audited accounts for the nine-month period ending December, 1999.
Wipro Technologies saw sales and other income grow by 62 per cent up to the third quarter, to Rs 706 crore.
The profit before interest and tax (operating margin) was Rs 193.40 crore, a 61 per cent growth over that in 1998-99.
Wipro Infotech increased sales and other income by 20 per cent to Rs 540.90 crore.
The profit before interest and tax was Rs 18.40 crore. During the quarter ended December, 1999, shareholders of Wipro and Wipro Computers Ltd approved a scheme of merger between the two companies.
Wipro consumer care and lighting recorded a 14 per cent lower growth at Rs 241 crore.
MUMBAI, Jan 21 (UNI) HCL Technologies Limited has recorded a 101 per cent surge in net profit during the second quarter ended December 31, 1999, to touch Rs 41.69 crore as against Rs 20.72 crore a year earlier.HCL Technologies sales for the quarter were at Rs 90.70 crore, up 36 per cent from Rs 66.45 crore for the same period last year.
Its net profit for the first half of its financial year was Rs 75.41 crore, up 94 per cent from Rs 38.93 crore a year ago.
Sales for the half-year stood at Rs 175.64 crore, registering a growth of 39 per cent from Rs 126.53 crore in the same period last year.
The company said its share of revenues from e-commerce and Internet-related businesses increased to 36 per cent of total revenues during the July-December period compared with 24 per cent in the same period last year.
The company said its employee stock options programme covers over 90 per cent of the 2,949 employees as on December 31. About 73.72 per cent of the companys shares are held by the promoters. Individuals and companies hold 18.49 per cent, foreign institutional investors (FIIs) hold 3.62 per cent, expatriate Indians and overseas corporate bodies hold 2.33 per cent while banks and mutual funds hold 1.85 per cent.
Other income for the
second quarter and half year include a one-time interest
income of Rs 10.05 crore. During the quarter ended
December 31, the equity shares of the company of Rs 10
each were split into equity shares of Rs 4 each.
grow by 45 pc in first half
NEW DELHI, Jan 21 The sales of personal computer (PC) improved by 45 per cent at 6.63 lakh units in the first half of 1999-2000 as against 4.5 lakh units for the same period last fiscal, suggesting an upward swing in the IT hardware sector, according to the Manufacturers Association for Information Technology (MAIT).
The quake in Taiwan, which had resulted in the increase in the prices of PC, had little effect on the sales.
Considering the robust growth in PC sales, MAIT has predicted that PC sales will grow by 41 per cent at 1.45 million units for the year 1999-2000 over the previous fiscal.
MAIT said the PC penetration has increased to 4.4 to 4.6 per 1000 against 3 per 1000 during the same period last year.
plans fun drive for women
CHANDIGARH, Jan 21 Maruti Udyog will organise a contest for women drivers called Womens Power Drive here on January 23. The fun-filled treasure hunt drive will emphasise on safe driving and traffic rules.
The route stretches over 70 km in and around the city. The driver along with her navigator and family members will be given clues to reach various checkpoints. On reaching a check point, the participant will get herself registered and head for the next point.
The winner will be chosen not on the basis of how fast she has reached the final point but on the basis of adhering to the traffic rules and safe driving.
Events like best maintained car, quiz, dance competition, the oldest couple participant, youngest participant, oldest car etc. will also be conducted and special prizes will be given, says a MUL release.
The first Womens Power Drive was held at Chandigarh by MUL on December 13, 1998.
NEW DELHI, Jan 21 (PTI) The Delhi High Court today asked cellular operators in metros to cut the rental on mobile phones from Rs 600 per month to Rs 474 retrospectively from November and bring down the call charges from Rs 6 per minute to Rs 4 from next month. A Division Bench comprising Chief Justice S.N.Variava and Mr Justice S.K.Mahajan asked the cellular companies in other circles to charge a rental of Rs 500 from November 1,1999, and airtime charge of Rs 4.50 per minute from February 1.
The court said these were the rates recommended by TRAI.
The court said the calculation for the airtime charges would be done at Rs 2 for 30 seconds pulse rate against the 20 seconds suggested by TRAI. This followed as per the suggestion of Cellular Operators Association of India (COAI) which said that the companies had to make certain changes in their software.
The court said the arrears of the overcharged per month rent at the rate of Rs 600 from August last year, would be adjusted in future bills of the subscribers by the operators within three months from February.
The court made it clear that the arrangement on airtime pulse rate is interim, subject to the final calculation of licence fee by the government or any licencing authority.
It said any operator who wished to make incoming calls free on the mobile phones or wanted to offer better rental and airtime package to the subscribers, was free to do so.
The billing cycle for the future bills under the new arrangement, would also start from February 1, the court said.
Todays order came after the COAI sought clarification on the courts Tuesday order quashing calling party pays (CPP) regime under which incoming calls on cellular phones were proposed to be made free by TRAI.
COAI counsel Gopal Subramaniam told the court that TRAI had fixed per month airtime charges at Rs 4 but the existing software calculated it on the basis of Rs 2 per 20 seconds pulse rate making it difficult to implement.
He said the operators were ready to calculate the charges at Rs 2 per 30 seconds pulse rate and make changes in their software accordingly.
The COAI had raised
objection to courts observation in its Tuesday
order that the benefits received by the operators should
be passed on to consumers saying the tariff was a
consequence of TRAIs proposal but an impression was
created that it had come from the court.
MUMBAI, Jan 21 (UNI) The Board of Directors of Sun Pharmaceutical Industries will meet on February 1 on consider a bonus issue of shares. Sun Pharma currently has an equity base of Rs 15.42 crore and reserves of Rs 250.75 crore.
BIFR has proposed the merger of the sick Gujarat Lyka Organics with Sun Pharmaceuticals as part of the formers draft revival plan.
BIFRs draft rehabilitation scheme envisages a capital expenditure of Rs 7.31 crore, margin money for working capital of Rs 4.43 crore and repayment of Rs 7.5 crore debt.
Gujarat Lyka is engaged in manufacturing of six amino penicillanic acid and other downstream semi-synthetic pencillins at its Ankeleshwar unit in Gujarat.
Bajaj Autos sales for the quarter were at Rs 997.26 crore, up 17 per cent from Rs 849.24 crore for the same quarter of the previous year.
Net profit for the nine-month period amounted to Rs 377.12 crore from Rs 340.60 crore a year earlier.
Much of the first half profit was due to well performance in the second quarter when net profit stood at Rs 4.64 crore against Rs 2.08 crore last year.
J & K Bank
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