Harita Grammer net down by 7%
Harita Grammer has registered a 7 per cent decline in its net profit for the year ended March 31, 1999 despite a marginal increase in turnover from Rs 50.30 crore in 1997-98 to Rs 50.90 crore in 1998-99. Higher operating margins, increased interest costs of Rs 1.02 crore (Rs 0.88 crore) and depreciation of Rs 1.28 crore (Rs 1.27 crore) resulted in a lower net of Rs 2.73 crore (Rs 2.94 crore) in spite of a Rs 0.31 crore profit from sale of land.

Indo Nissin facility in Haryana
Indo Nissin Foods Ltd, a joint venture between AFDC and Itochu and Nissin Food Products of Japan, has inaugurated its second manufacturing facility in Haryana. With the opening up of the new plant, the company would be able to manufacture more than 10,000 tonne of products per annum. The company's leading brand Top Ramen enjoys a 21 per cent market share which would go up to 40 per cent within the next two years through a wider distribution network and product improvements. Indo Nissin has also entered into a tie-up with Marico Industries as a marketing partner.

Fort Gloster posts Rs 5cr loss
Fort Gloster Limited of Bangurs has reported a net loss of Rs 5.08 crore during the quarter ended March 1999. Gross sales stood at Rs 26.67 crore and other income at Rs 0.82 crore, while the total expenditure shot up to Rs 30.66 crore. After interest payment of Rs 1.60 crore, the company has reported a gross loss of Rs 4.77 crore.

Herbertsons net sales up 21%
Herbertsons Limited, a member of the UB Group spints division, reported an increase in net sales of 21 per cent for the financial year 1998-99. Turnover increased to Rs 267.64 crore (Rs 219.58 crore).

Herberstons achieved a gross profit of Rs 10.08 crore and net PAT increasemarginally to Rs 5.05 crore. Bagpiper Whisky, the flagship brand of Herbertsons, continued its record breaking sales and this brand is now the third largest selling whisky in the world as acknowledged by drinks international.

Konka to seek FIPB nod
Chinese electronics giant Konka will soon move the Foreign Investment Promotion Board (FIPB) for setting up a manufacturing base in India besides recasting the present board of directors of the Indian subsidiary, with more representation from the parent company.