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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4225)	5/7/1999 2:59:00 PM
From: Suresh Havalad	Respond to of 12475

Mohan I did not pay much attention to the market or investing when I was in India. Having read your posts in the last couple of weeks, I wish I had. May be next time when I visit which should be end of July.

To: Mohan Marette who wrote (4225)	5/7/1999 3:13:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Indian Aluminium net profit rises on cost cuts indal.com CALCUTTA, India, May 7 (Reuters) - Indian Aluminium Co Ltd (Indal) posted a higher net profit in the year to March 1999, lifted by stringent cost management and focus on added-value products, its chairman said on Friday. Indal, 54.62 percent owned by Canada's Alcan Aluminium (AT.TO - news), said 1998/99 net profit rose 7 percent from the previous year to 763.6 billion rupees ($17.88 million). ''Thrust on value-added product segments along with our cost management efforts resulted in gross profit margins increasing from 12 percent to 14 percent,'' Chairman Chris Bark-Jones told reporters. Improved cost management saved the company more than 250 million rupees, he said. Net sales in 1998/99 dropped to 10.22 billion rupees from 10.38 billion a year ago because of a slowdown in domestic and east Asian economies and a decline in global aluminium prices. Earnings per share rose to 10.7 rupees from 10.04 rupees. Bark-Jones said he was encouraged by the recovery in aluminium prices in international markets, but added the industry would see ''intense'' competition. He said Indal is awaiting government approval to expand capacity at its alumina refinery at Belgaum in the southern state of Karnataka to 510,000 tonnes annually from 280,000 tonnes and to boost capacity of its Muri alumina plant in central Madhya Pradesh to 101,000 tonnes from 80,000 tonnes. Jones said Indal's overall exports fell in 1998/99 after the company increased sales of alumina to the domestic market, but those of speciality alumina products had risen.