Crompton Greaves Q1 net at Rs 122.61 cr

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Mumbai, Chennai, Jul 23: 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%