CORPORATE SCORECARD

Palace Heights Hotels net falls to Rs 24 lakh

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July 17: Palace Heights Hotels Limited, which runs the 5-star Hotel Viceroy in Hyderabad, has reported a marginal decline in both sales and net profit for the quarter ended June 30, 2001 as against the same period last year in the unaudited financial results for the quarter.

The company has recorded sales of Rs 4.64 crore for the first quarter as against Rs 4.75 crore during the same period last year. The net profit also declined to Rs 24.46 lakh as against Rs 39.93 lakh.

The total income for the whole year ended March 31, 2001 was at Rs 21 crore. The company has expressed its inability to declare a dividend due to expansion project at the existing site.

Avon Organics posts net profit of Rs 1 cr
Avon Organics Limited has reported a higher net sales at Rs 15 crore for the quarter ended June 30, 2001 as against Rs 10.4 crore for the same period last year.

The company registered a sharp hike in net profit at Rs 1 crore as against Rs 14.69 lakh during the same period last year. The gross profit for the quarter was at Rs 4 crore as against Rs 1.94 crore. The total sales for the year ended March 31, 2001 was at Rs 45 crore and the net profit was at Rs 1 crore.

Aztec Software Q1 net up to Rs 7 cr
Aztec Software and Technology Services Ltd has posted a net profit of Rs 6.84 crore for the quarter ended June 30, 2001 as against Rs 4.34 crore for the quarter ended June 30, 2000. Total income for the quarter ended June 30, 2001 is at Rs 25.07 crore as compared to Rs 14.37 crore in June quarter 2000.

During the quarter, the company hired William Brown as president of its global operations. He was earlier with IBM Global Services as vice-president.