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Otis net declines marginally in third quarter

Nov 3, 1999

Elevator manufacturer Otis Elevator Company net profit has declined by a marginal 4% to Rs 56 m. Net sales improved by a marginal 7% to Rs 630 m.

Cummins net up 25%

Nov 1, 1999

Cummins India has posted net profit of Rs 226 m (up 25.1%) in 2QFY2000. This is attributed to a decline in interest cost (down 17.3%) and lower tax provision (down 6.5%).

Wartsila posts sharp jump in net

Nov 1, 1999

Wartsila has posted a sharp jump in net profits for the quarter ended 30th September 1999. The company has benefited from the surge in sales and the improvement in operating efficiencies.

KEC posts 62% decline in net

Oct 29, 1999

KEC International has posted a 62% decline in net profits for the quarter ended 30th September 1999. The company has suffered on account of a faster growth in expenditure and depreciation (up 16% and 25% respectively).

Otis: Lifting off into a global fold

Jul 23, 1999

As part of the restructuring exercise, the Mahindra Group is selling its 23.89% stake in Otis Elevator Company (India) to Otis Elevator, USA. After the transfer, Otis Elevator, USA, will own 69% of Indian company, thus making it a subsidiary.

Thermax considers hiving off IT business

Jun 5, 1999

Thermax's IT arm - Thermax Systems and Software is likely to be hived off into a JV with the parent holding a small stake in the venture. Thermax Systems is scouting for partners and has already initiated talks with 2-3 potential companies who are evaluating the business through an external agency.

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