Novartis profit after tax grows to R37.6 crore
Novartis India, for the first quarter ended June 30, logged a profit after tax of R37.6 crore compared with R31.5 crore a year ago.
Profit before tax was R55.9 crore (R47.5 crore). Sales of R188 crore registered a growth of 11.7% over sales during the corresponding previous quarter. During the quarter under review, Novartis' core business, pharmaceuticals, with sales of R134.5 crore grew by 10.1% over the corresponding previous period (R122.2 crore).
Supreme Industries sees 26% rise in profit
Supreme Industries posted a 26% rise in net profit at R196 crore for the year ended June 30, 2011, as compared with R156 crore a year ago. The company’s revenues rose 22.5% to R2,469.5 crore compared with R2,016.2 crore a year ago. Supreme Industries’ operating profit stood at R357.4 crore as compared with R298.6 crore a year ago. The company processed 2,24,673 tonnes of polymers compared with 1,91,704 tonnes a year ago.
Edelweiss Capital net declines 45%
Edelweiss Capital reported a 45% drop in net profit for the quarter ended June 30, 2011. Net profit dipped to R33.2 crore this quarter from R61.36 crore in the same period last year. The company’s total income, however, rose 39% to R396 crore from R284 crore in the year-ago period. The company’s agency business, which includes its broking business, saw a sharp fall of 95% in earnings to R0.83 crore this quarter from R20.31 crore in the same period last year.
Mastek loss stands at R55.93 crore
IT solutions firm, Mastek recorded a loss of R55.93 crore as compared with a profit of R67.7 crore last year. The company posted a revenue decline of 15% for the financial year 2011 to R614.2 crore as compared with R721.8 crore in the previous year. The company posted a significant 22.2% decline in revenues from its UK operations to R291 crore from R374 crore last year. “The company's performance reflects the challenging demand environment as a result of the global economic crisis,” the company said.
Zee News Q1 net dips 38.3% at R2.04 crore
Broadcasting firm Zee News on Monday posted 38.3% decline in its consolidated net profit