Parke-Davis net dips to Rs 7 crore: Parke-Davis has registered a drop in net profit at Rs 7.1 crore for the year ended March 31, 1998, against Rs 9.8 crore in the previous year. The board has maintained dividend at Rs 5 per share. Sales rose to Rs 174 crore from Rs 153 crore in the previous year. The company says that it had to increase its borrowings in order to meet the cost of the voluntary retirement scheme for workers at its Mumbai factory.

Lupin Labs board approves allotment: The board of Lupin Laboratories has approved the allotmentof 68,62,080 shares at par pursuant to the conversion of warrants. The warrant conversion will increase the promoters holding in the company to approximately 80 per cent. These warrants issued on June 30, 1993 were attached to the zero interest unsecured non-convertible debentures (NCDs).

Birla Corporation to pay 10%: The MP Birla-owned Birla Corporation's board of directors has recommended a 10 per cent dividend, despite incurring a heavy net loss during the last financial year. It had reported a net loss of Rs 51.41 crore during the year, against a net profit of Rs 6.38 crore in the previous financial year. Income from operation dropped to Rs 986.85 crore, from Rs 1080.82 crore.

Tinplate suffers Rs 61 cr net loss: The Tinplate Company Ltd has incurred a net loss of Rs 61.18 crore in 1997-98, against a loss of Rs 27.02 crore in the previous year. Its income from sale and others plummeted to Rs 311.29 crore from Rs 344.44 crore in the previous year, while gross profit nosedived to Rs 3.11crore from Rs 12.61 crore in 1996-97.

IVP net rises 25% to Rs 8 crore: IVP Ltd has registered sales of Rs 292 crore for 1997-98, against Rs 289 crore in the previous year. The company has posted a net profit of Rs 8.35 crore for the period, as compared with Rs 6.71 crore in 1996-97, an increase of 25 per cent.

SmithKline Beecham Consumer Healthcare board to meet on July 14: The board of directors of SmithKline Beecham Consumer Healthcare Ltd will meet on July 14, 1998, to consider and take on record the unaudited half yearly/quarterly financial results of the company for the six-month period/second quarter ending June 30, 1998. The board will also consider declaration of the first interim dividend in the same meeting.

Tata Telecom PAT at Rs 1.36 crore: Tata Telecom has posted a higher net profit after tax (PAT) of Rs 1.36 crore for the financial year ended March 31, 1998, against Rs 1.33 crore last year. The board of directors have recommended a dividend at the rate of 10 per cent(Rs 1 per share).

Rashtriya Chemicals net up at Rs 189 crore: Rashtriya Chemicals & Fertilizers Ltd (RCF) has posted a net profit of Rs 189 crore for the year 1997-98, against Rs 77 crore in the previous year.Chairman and managing director DK Varma said on Monday that the company had achieved a 30 per cent rise in sales turnover to Rs 1,748 crore for the year 1997-98, against the last years Rs 1,313 crore.

Computech International net up 33%: The Calcutta-based hardware manufacturing and software development firm Computech International Ltd has posted a 33 per cent increase in net profit to Rs 5.01 crore for 1997-98, against Rs 3.75 crore in the previous year. The company achieved a turnover of Rs 56 crore, including an export turnover of Rs 16 crore. company chairman SK Rateria said the board had decided to declare a 12.5 per cent dividend.

Adani Exports net spurts 16% to Rs 62.51 cr: Adani Exports, the Adani group flagship, has recorded a 16 per cent jump in net profit to Rs 62.51crore for the year 1997-98, against Rs 53.89 crore in the previous year. Turnover stood at Rs 2,417.78 crore, as compared with Rs Rs 1,606.82 crore. Gross profit for the year was Rs 64.19 crore, against Rs 55.51 crore in 1996-97. Earnings per share (EPS) stood at Rs 56.70 crore on an enhanced equity capital of Rs 11.02 crore. the company board has recommended a dividend of 30 per cent.

A clarification: FedEx plans to invest $ 15 million over the next five years in India and not $50 million as stated in an article of The Financial Express dated June 29, 1998.