On the back of strong sales, Godrej Properties posted an increase of 21% in consolidated net profit to R35 crore for the third quarter ended December, against R29 crore in the year ago period. The real estate arm of the Godrej Group posted a surge of 77% in its consolidated total income for the quarter to R266 crore against about R150 crore last year. The company witnessed total booking value increase to R672 crore and total booking volume surged to 1.04 million sq ft compared with total booking value of R364 crore and total booking volume of in 0.57 million sq ft in Q3 of last year. The share price closed 1% up at R629.10 on Wednesday on BSE.
Titan Industries net up 24.3% at R203.73 crore
Titan Industries, a Tata Group firm, posted a 24.3% jump in its net profit for the third quarter ended December. The watches and jewellery majors profit for the quarter stood at R203.73 crore compared with R163.91 crore in the corresponding period a year ago. For the October-December period, Titan industries recorded a 23.6% rise in total income from operations to R3017.80 crore from R2440.10 crore in the same period last year. In Q2 total income was R2275.98 crore.
Colgate-Palmolive posts 3% drop in net at R111 cr
Colgate-Palmolive( India), makers of Colgate dental cream, on Wednesday reported a 3% decline in net profit at R111 crore in the third quarter ended December, compared with R115 crore in the corresponding quarter of the previous fiscal. The companys total income increased to R795.51 crore for the quarter from R700.61 crore in Q3 FY12.
EID Parry Q3 net loss narrows to R21.98 cr
EID Parry (India), part of the $4.4-billion Murugappa Group, has reported a declined loss of R21.98 crore for the quarter ended December, compared with a loss of R48.09 crore during the same quarter of previous fiscal. The total income from operations stood more or less at R251.82 crore compared with R252.99 crore in the same quarter of previous year, said a press release on Wednesday.
Usha Martin PAT rises 18.23% to R30.41 crore
Usha Martin reported a consolidated profit after tax of R30.41 core for the quarter to December FY13, an increase by 18.23% year- on- year, against a PAT of R25.72 crore in the same period previous fiscal. The companys net sales during the quarter grew 8.91% y-o-y to R889.05 crore from R816.28 crore during the corresponding period FY12. Profit before tax went up to R38.27 crore in the December quarter FY 13 from a loss of R50.90 crore during the December quarter FY12.
Arvind Q3 net increases 46% to R75.4 crore
Arvinds third quarter net profit rose 46% to R75.4 crore from R52 crore in the same quarter last year. Revenue for the quarter rose 16.3% to R1,405.2 crore from R1,208.2 crore during the same period a year ago. We continue to be moderately bullish as far as the overall business scenario is concerned as the demand from domestic and international market for textile continues to be strong, said Jayesh Shah, director and CFO.
Anders Grundstrmer is MD of Scania India
Anders Grundstrmer has been appointed as the managing director of Scania Commercial Vehicles India and senior vice-president of Scania Group. Grundstrmer is currently executive regional director, region western and southern Europe, at Scania. He succeeds Henrik Fagrenius, currently MD at Scania Commercial Vehicles India. Henrik has been appointed executive regional director for the Southern Africa, Asia and Oceania region and member of Scania Group management.