Siemens, Strides & Virinchi quarterly results

CORPORATE SCORECARD

Siemens Q2 net soars 89%

Siemens Ltd has posted a net profit of Rs 79.37 crore for the second quarter ended March 31, 2005, up 89 per cent against Rs 42 crore in the corresponding quarter previous year.

Total income for the quarter stood at Rs 744.60 crore (Rs 498.24 crore). The company's board has declared an interim dividend of 45 per cent (i.e. Rs 4.50 per share) on equity shares of Rs 10 each.

The record date for payment of interim dividend has been fixed as May 10, 2005 and interim dividend shall be paid on May 20, 2005.

Meanwhile, Siemens has informed the BSE that its board has approved the proposal for amalgamation of its 100 per cent subsidiary Demag Delaval Industrial Turbomachinery Pvt Ltd, Mumbai (DDITL) with the company.

The subsidiary is engaged in the business of design, manufacture and marketing of industrial turbines.

Strides Q1 net up 45%

Strides Arcolab Ltd, a specialty pharmaceuticals company, has reported a 45 per cent growth in its net profit to Rs 6.22 crore for its first quarter ended March 31, 2005 as against Rs 4.28 crore in the corresponding period of the previous year.

Revenues grew 13 per cent for its first quarter to Rs 106.03 crore. Consolidated profits grew 32 per cent to Rs 10.99 crore (Rs 8.34 crore).

The Indian operations reported total revenue of Rs 71.77 crore, a growth of 20 per cent over the similar period in the previous year. Company's continued focus on regulated markets and global disease management segments have yielded rich dividends.

For the quarter, sales from these markets have increased to 45 per cent and 42 per cent on a consolidated and stand alone basis respectively from 30 per cent and 24 per cent in similar period in the previous year.

During the quarter, the company increased has increased its stake in Lain American operations from 40 per cent to 52.5 per cent and submitted its first ANDA to the USFDA.

During February 2005, company has allotted 1,196,662 equity shares of Rs 10 at a premium of Rs 190 per share to Elcemer Almeida & Associates.

As a result, the equity capital of the company has gone up to Rs 34.95 crore from Rs 33.75 crore.

Virinchi net up 59%

Virinchi Technologies, an e-business collaboration solutions provider focusing on B2B space, has closed 2004-05 with a top line growth of 71.85 per cent at Rs 18.29 crore as against Rs 10.64 crore in 2003-04.

Net profit after tax increased 59.1 per cent to Rs 5.72 crore (Rs 3.59 crore). Total income for the fourth quarter was up 35.66 per cent to Rs 5.48 crore (Rs 4.03 crore).

The net profit increased 9.75 per cent to Rs 1.85 crore (Rs 1.69 crore).