Gross sales grew almost 60 per cent to Rs 385.84 crore.

Chairman and managing director SB Ganguly said the company has done quite well in both automotive and industrial sectors, in spite of the general economic slowdown and continuing slump in the automotive sector.

The results were partly the outcome of a strong performance by the industrial batteries division, which has reported a growth of more than 100 per cent over the same period last year. The automotive division maintained its record run of 30 per cent continuous growth in the motorcycle batteries sector.

With the recently acquired Standard and Furukawa brands, the company was able to consolidate its decisive lead in virtually all segments of the automotive battery market.

This is for the first time that thecompany's results include the performance of the recently acquired factories and brands from Standard Batteries for the full period. The EPS on an annualised basis for the half year is Rs 10 on an enhanced capital base as against Rs 9 recorded in the first half of 1997-98 and the CEPS is far higher at Rs 19.27.

Coates of India posts Rs 1.72 cr net profit

Coates of India has reported a net profit of Rs 1.72 crore on net sales of Rs 38.03 crore in the quarter to September 30, 1998. Sales and net profit for the nine months to the same date were Rs 106.78 crore and Rs 5.09 crore respectively.

In the year to March 31, 1998, the company had reported sales and net profit of Rs 153.04 crore and Rs 8.21 crore respectively. However, the 1997-98 figures include the `packaging coatings' business which was transferred to a wholly-owned subsidiary from December 31, 1997.

The reserves and surplus of Rs 72.25 crore includes Rs 19.146 crore arising out of the transfer of packaging coatings business. Thecompany's paid-up equity is Rs 6.89 crore.

Alstom posts loss of Rs 1.56 crore

Alstom India Ltd, formerly GEC Alsthom India, has reported net sales of Rs 108.37 crore and a net loss of Rs 1.56 crore in the quarter ended September 30, 1998. However, losses at the end of the first half stand at Rs 13.65 crore while sales amount to Rs 201.41 crore. The company had reported a profit of Rs 3.84 crore on sales of Rs 546.04 crore in 1997-98.

The company said the restructuring drive is continuing through a voluntary separation scheme and costs of such actions have not been considered in the results. The management has stated that sales and profits have been affected by "continuing recession, lower prices for all products and disposal of low voltage components business in the second quarter of 1998-99.