Business & Economy

Unlisted India Inc on a roll 

What is India News Service, Monday, 24 January 2005, 2100 hrs IST

Unlisted non-finance companies in the private sector fared remarkably well in 2002-03, the latest year for which figures were available, with 7,948 firms posting a rise of 85.75 per cent in net profit and a 14.71 per cent growth in revenue.

However, unlisted public sector undertakings did not fare as well: the net profit of 218 PSUs declined sharply by 78.5 per cent, despite a 9 per cent rise in revenue.

Data released by Centre for Monitoring Indian Economy were based on the financial performance of over 260,000 unlisted Indian companies. CMIE First Source procures data from the Registrar of Companies.

Heading the profit table for unlisted private companies is Tata Sons, whose profit after tax in 2002-03 was Rs 816.84 crore (Rs 8.17 billion). It is followed by Mahindra-British Telecom {profit after tax of Rs 171.54 crore (Rs 1.71 billion)}, Bennett, Coleman & Company {Rs 166.42 crore (Rs 1.66 billion)}, Hyundai Motor India {164.75 crore (Rs 1.65 billion)} and Syntel (India) {Rs 97.64 crore (Rs 976 million)}.

Nuclear Power Corporation tops in profitability for unlisted PSUs with a profit after tax of Rs 1509.25 crore (Rs 15.09 billion) in 2002-03. It is followed by Bharat Sanchar Nigam (Rs 1,444.45 crore), Oil India Ltd (Rs 916.73), Northern Coalfields {Rs 748.74 crore (Rs 7.49 billion)} and Power Grid Corporation {Rs 642.59 crore (Rs 6.43 billion)}.

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FMCG firms find novel ways to cut costs, maintain prices: The fast moving consumer goods (FMCG) sector is gearing up for price corrections once again. But, instead of a direct price increase, it has adopted novel ways to pass the spiralling input cost to the consumer.

Anil Ambani sends 500-page note to RIL Board: Keeping up the pressure on Mukesh Ambani, his younger brother, Anil, has sent a 500-page note concerning corporate governance in the Reliance empire.

Committee examining issues, saysTrivedi: RIL independent director and head of its corporate governance committee Y.P. Trivedi said his panel was looking into all the issues relating to corporate governance practices raised by Anil Ambani.

Foreign lenders may sell Dabhol debt for $360 mn: Lenders came close to signing a deal after a meeting on Friday. 
 
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Snubbed, Rajasthan threatens to block pipeline: Rajasthan has been upset with the Centre ever since it lost out to Punjab in the race for setting up a project for refining crude oil discovered by Cairn Energy in the western part of the state.

More miles left in Maruti 800: Maruti Udyog plans to launch Bharat Stage-III version of the car next week at a price higher than that of the existing 800 models. 

Those who know when they have enough are rich: On one side the FM is angry about poor corporate governance, while on the other the PM is asking everybody to emulate the Chinese model. 

ONGC to commission its first retail outlet in Mangalore soon: Oil and Natural Gas Corporation (ONGC) Ltd will commission its first retail
outlet in the country in Mangalore.

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