ITC NET PROFIT ZOOMS 52%
Article Abstract:
ITC Ltd, a tobacco company, has increased its net profit by 52 percent to Rs526.20 crore in 1997-98 from Rs346.90 crore in 1996- 97. It has incurred a one-time restructuring expense of Rs53.5 crore to exit from the financial services business, ITC Classic. The company's foreign exchange revenues through exports increased from Rs634.73 crore to Rs759.08 crore. Its leaf tobacco division grew by 62 percent in value terms and 37 percent in volumes. ITC has entered into a 20-year alliance with BAT to produce and market the Benson & Hedges and State Express 555 cigarette brands in India. (khr) ------------------------------------------------------------ Financial Results of ITC Ltd (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Gross Income 6,927.37 5,990.60 ------------------------------------------------------------ Other income 93.21 97.56 ------------------------------------------------------------ Gross profit 877.33 649.68 ------------------------------------------------------------ Depreciation 85.85 63.03 ------------------------------------------------------------ Tax 265.28 239.75 ------------------------------------------------------------ Net profit 526.20 346.90 ------------------------------------------------------------
Comment:
Reports increase in net profit by 52% to Rs526.20 crore in 1997-98 from Rs346.90 crore in 1996- 97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ITC'S Q2 NET UP TO Rs180 CRORE
Article Abstract:
ITC Ltd (ITC) is a leading cigarette manufacturing company of Calcutta, It made a net profit of Rs180 crore in the second quarter of 1998-99 (Rs158 crore in the second quarter of 1997- 98). ITC recorded 28 percent rise in its gross operating profit at Rs312 crore. It recorded a profit before tax of Rs269 crore (Rs230 crore). In the first half of 1998-99, ITC posted an operating profit of Rs603 crore (Rs489 crore in the first half of 1997-98). It recorded a profit before tax of Rs520 crore (Rs448 crore) and a net profit of Rs350 crore (Rs302 crore). (gs)
Comment:
ITC Ltd (ITC) is a leading cigarette manufacturing company of Calcutta, It made a net profit of Rs180 crore in the second quarter of 1998-99 (Rs158 crore in the second quarter of 1997- 98).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NOVARTIS H1 NET PROFIT ZOOMS 104%
Article Abstract:
The net profit of Novartis India has increased by 104 percent to Rs31.5 crore in the first half of 1998-99 (Rs15.4 crore in the first half of 1997-98). Its sales grew by 17 percent to Rs390.5 crore (Rs335 crore). Novartis India is a subsidiary of Novartis AG of Switzerland. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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