This has occurred probably due to the significant increases, compared to the corresponding last year quarter, in net profit by companies like Aztec Software & Techno (AST), Satyam Computers, Venky's (India), Infosys Techno and Hughes Software.

The net profit figure of AST rose by 332.8 per cent to Rs 5.54 crore in October-December, 2000 from Rs 1.28 crore in October-December, 1999. Its net sales have increased significantly by 535.2 per cent during the third quarter. Similarly, in the case of Infosys, net profit rose by 125.4 per cent to Rs 166.33 crore from Rs 73.79 crore. The net sales of Infosys increased by 137.2 per cent to Rs 537.07 crore.

Out of 48 companies, ten are IT companies. All of them showed significant growth in sales and net profit during the third quarter.

Net sales of the 48 companies increased by 41.5 per cent to Rs 3,746 crore. This has happened probably due to significant increases in net sales by companies like AST, HDFC Bank, Infosys and Washington Software. The operating profit of these companies rose by 63.1 per cent to Rs 1,371 crore from Rs 841 crore. Gross profit also rose by 73.5 per cent to Rs 862 crore from Rs 497 crore. The profit before tax (PBT) increased by 88.3 per cent to Rs 676 crore. On the other hand, the net profit rose by 85.2 per cent to Rs 583 crore from Rs 315 crore. The PAT to sales ratio increased from 11.89 per cent to 15.56 per cent during October-December, 2000.

Fifteen companies registered a decline in gross profit. Significant among them are APM Investment, GSFC, Mangalam Timber Prod and SKP Securities. Seven companies more than doubled their gross profit during the third quarter. Significant among them are Astra Microwave Products, AST and Shree Rajeshwaranand Paper and Washington Software.

In PBT, six companies witnessed an increase of 100 per cent or more during the third quarter. Mention may be made of Satyam Computer, Sterlite Optical Techno and Venky's (India).

However, 14 companies recorded a lower PBT during the third quarter. In the case of PAT, significant loss made by companies are Bellary Steels & Alloys (Rs 4.23 crore), GSFC (Rs 20.24 crore) and SIV Industries (Rs 22.75 crore).As many as 14 companies recorded lower net profit in October-December, 2000 from the level of October-December, 1999.On the other hand, seven companies witnessed an increase of 100 per cent or more. Chief among them being AST (332.8 per cent).

Among the 48 companies, the top five in respect of PAT to sales ratio were Bigoo Investments, Chakrapani Promotions, Regent Leasing & Fin, Sarvottam Vanijya and Gemini Construction. PAT formed less than 5 per cent of sales were found in the case of Relaxo Footwears.

A significant increase in the ratio during the third quarter was recorded by Astra Microwave Products (2.05 per cent to 34.92 per cent), Regent Leasing (50 per cent to 100 per cent), Shree Rajeshwaranand Paper (0.68 per cent to 5.71 per cent), Sterlite Optical Techno (19.41 per cent to 27.76 per cent) and Washington Softwares (4.23 per cent to 24.5 per cent).

An opposite trend can be seen in the case of AVT Natural Prod (28.05 per cent to 14.34 per cent), AST (36.36 per cent to 24.78 per cent), Geometric Software (23.99 per cent to 14.37 per cent), Hinduja Finance Corpn (75.29 per cent to 56.07 per cent) and Triumph International Fin (73.83 per cent to 42.64 per cent).

The average EPS of 48 companies rose by 64.7 per cent to Rs 5.60 from Rs 3.40.