MUMBAI: Pharma major Parke-Davis (India) Ltd recorded a 42 per cent increase in its net profit at Rs 8.14 crore for six months ended September 30 despite a marginal growth in sales of Rs 101.01 crore (Rs 100.83 crore). Chairman and managing director Pramod H Lele said ``a prudent and pragmatic financial management has helped the company to keep its expenses well below last year's level. The interest burden is significantly down to Rs 3.54 crore as against Rs 5.17 crore during the corresponding period last year,'' he added.

Hinduja Finance pays 10 pc interim

MUMBAI: The directors of Hinduja Finance Corporation have declared an interim dividend of 10 per cent for 1999-2000. Total income from operations during the quarter ended September 1999 amounted to Rs 333.76 lakh (Rs 320.18 lakh). It has earned a gross profit of Rs 212.17 lakh from Rs 104.81 lakh. The net profit and write back of provisions amounted to Rs 265.28 lakh against Rs 62.13 lakh.

PidiliteIndustries profit rises 19.7%

MUMBAI: Pidilite Industries has registered a 19.7 per cent growth in net profit to Rs 25.5 crore for the first half of current year againt Rs 19.65 crore same period last year. Net sales of Rs 185.4 crore grew by 10% over Rs 168.5 crore in the same period of last year.

Nirma net profit increases 67.2 pc

MUMBAI: Ahmedabad-based soaps and detergents maker Nirma Ltd's net profit for the first half of 1999-2000 increased by 67.2 per cent to Rs 115.47 crore, compared to Rs 69.06 crore in the same period of last year. The company's gross sales were up by 26.39 per cent to Rs 824.60 crore during April-September 1999 compared to Rs 652 crore in the same period last year. Nirma said the establishment of a parallel distribution chain over and above the principal channel of distributors has played pivotal role in the volume growth.

Digital Equipment Q4 net up 52 pc

MUMBAI: Digital Equipment (India) Ltd announced a 52 per cent increase in its net profit for the 13weeks ended on September 25, 1999 at Rs 8.2 crore, while total revenue during the period was Rs 25.87 crore compared to Rs 65.64 crore in the same period last year. It's profits were helped during the period by the lower expenditure outgo at Rs 15.2 crore compared to Rs 57 crore last year.

HM Q2 losses touch Rs 22.7 cr

CALCUTTA: Hindustan Motors has suffered a loss of Rs 22.7 crore in the second quarter of 1999-2000. The company had recorded a modest profit of Rs 3.21 crore in the same period last year. A company statement said that net sales of the company had risen to Rs 327.38 crore during 1999-2000 Q2 from Rs 262.31 crore in the second quarter of last year. Overall demand for passenger cars had picked up in the second quarter, with HM's sales growing by 19%.

Ceat Tyres first half net profit rises

MUMBAI: The net profit of Ceat Tyres Ltd, flagship of RPG Enterprises, rose 17.76 per cent to Rs 7.16 crore for the six months ended September, while gross sales increased by 16 per cent inthe same period to Rs 657.26 crore from Rs 563.50 crore last year. The company explained that the improved performance was due to the success of the company in the truck and bus tyre segment.