Crompton Greaves Q1 net at Rs 122.61 cr

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Mumbai, Chennai, Jul 23: Electrical equipment manufacturer Crompton Greaves on Wednesday announced a consolidated net profit of Rs 122.61 crore for the quarter ended June 30, a 36.38% increase over the previous year quarter. The company had net profit of Rs 89.9 crore in the first quarter of FY'08, said in a filing to Bombay Stock Exchange. The total income of the company rose to Rs 2,051.87 crore in the latest quarter, from Rs 1,554.88 crore in the same period last year. Crompton Greaves reported a standalone net profit of Rs 88.9 crore in the first quarter, a 29.29% growth over previous year's profit of Rs 68.76 crore. Total income of the company rose to Rs 1,090.98 crore in the latest quarter, from Rs 908.66 crore in the same period in FY'08. Shares of the company closed at Rs 256.45, up 9.85% on the BSE.

Dalmia Cement net down 38%

Dalmia Cement (Bharat) Ltd has reported a drop in its standalone net profit to Rs 50.46 crore for the first quarter ended June 30, 2008 as against Rs 81.84 crore during the same period last year. The net sales, however, grew19% to Rs 414.59 crore (Rs 348.16 crore). The EPS too declined 67.42% to Rs 6.24 (Rs 19.15). The company said that due to higher interest cost (54.10%) of Rs 34.41 crore, there was a decline in net profit, said a press release on Wednesday.

MMTC Q1 net up at Rs 53.76 cr

State-run commodity trading firm MMTC Ltd on Wednesday posted a net profit of Rs 53.76 crore in the first quarter of the current fiscal, a 38% growth over the corresponding quarter a year-ago. The company had a net profit of Rs 38.93 crore in the quarter ended June 30, 2007, MMTC said in a filing to the Bombay Stock Exchange. The total income surged to Rs 9,782.40 crore for the quarter ended June 30, 2008, a sharp increase of 60.80% as against Rs 6,083.42 crore for the same year ago period. Shares of the company closed at Rs 24, 308.15, up 5% on the BSE.

CFL net zooms

Coromandel Fertilisers Ltd (CFL), part of the Murugappa group, has reported a sharp growth in net profit to Rs 193.86 crore for the first quarter ended June 30, 2008 as against Rs 25.93 crore during the corresponding quarter of last year, a growth of 648%. The higher profitability has been due to the higher volume of fertiliser sales, higher subsidy income resulting from compensation for sulphur-based complexes under the new subsidy scheme, higher profitability from pesticides and specialty nutrients businesses. The income received under the Business Assistance Agreement with Foskor Pty Ltd, South Africa, also contributed for the higher profitability.

ZEEL net surges 104%

Zee Entertainment Enterprises Ltd has posted a net profit increase of 104% at Rs 130.97 crore for the quarter ended June 30, 2008 as compared to Rs 64.14 crore for the corresponding quarter of the previous fiscal. Sales for the period stood at Rs 359.34 crore as against Rs 244.32 crore, a growth of 47%. However, on a consolidated basis, the group has posted a net profit increase of 98% at Rs 160.71 crore as against Rs 81.27 crore. Sales stood at Rs 569.76 crore as against Rs 412.87 crore, a growth of 38%. On Tuesday, at the Bombay Stock Exchange, the shares of the company last traded at RS 209.75, up 3.66%.

Mastek declares 130% dividend

Software solutions company Mastek on Wednesday announced net profit of Rs 38.58 crore for the fourth quarter ended June 30, a 63.1% growth over the same quarter previous fiscal. The company had net profit of Rs 23.65 crore in Q4 of FY'07, Mastek said in a filing to Bombay Stock Exchange. The total income rose to Rs 249.8 crore in the latest quarter, from Rs 187.1 crore in the same period a year-ago. The board has recommended a dividend of 130% on shares of face value Rs 10 for FY'08. For the financial year ended June 30, Mastek reported a net profit of Rs 126 crore, a 47% growth over the corresponding period last year, on the back of improvement in revenue from the US and UK operations. The firm had a net profit of Rs 86.29 crore in FY'07. The total income rose to Rs 915 crore in FY'08, from Rs 743 crore in the year-ago period. "The continuous improvements in our operating margin, returns on talent, order book, and other metrics demonstrate the effectiveness of our business model and growth strategy,"

Mahindra Finance net up 25%

Mahindra & Mahindra Financial Services on Wednesday announced a profit after tax of Rs 26.76 crore for the first quarter ended June 31, a 24.8% growth over the corresponding period previous fiscal. The company had PAT of Rs 21.44 crore in Q1 of FY'08, the financial services provider said in a filing to Bombay Stock Exchange. The total income of the company rose to Rs 299.43 crore in the latest quarter, from Rs 249.61 crore in the year-ago period. During the quarter, the company's broking business Mahindra Insurance Brokers Ltd reported a net profit of Rs 1.92 crore, while the total income was at Rs 6.23 crore.

Calsoft Q1 PAT up at Rs 2.48 cr