AB Nuvo back in black; Reliance Cap profit falls

Written by fe Bureaus | Agencies | Mumbai, Delhi, Bangalore, Chennai | Updated: Nov 1 2009, 03:38am hrs
Aditya Birla Nuvo, a part of Conglomerate Aditya Birla Group on Friday announced that the company has posted a net profit of Rs 1.44 crore for the second quarter ended Sepetmber 2009 against a net loss of Rs 104.60 crore in the corresponding quarter last year. Profit before tax stood at Rs 33.47 crore against a loss of Rs 107.33 crore in Q2 FY09. Net sales during the quarter stood at Rs 3,662.17 crore, up 2.42% as compared to Rs 3,575.76 crore last year. However, for half year ended September 2009 the company posted a consolidated net loss of Rs 33.85 crore against a net loss of Rs 132.9 crore in Q2 FY09. Net sales during the period grew to Rs 6,876.50 crore against Rs 6,674.49 last year. Sushil Agarwal, CFO of the company said, Net profit improved considerably even after absorbing higher depreciation consequent to expansion in the telecom business. Aditya Birla Nuvo's shares on Friday slipped 4.80% to close at Rs 790.30 on the Bombay Stock Exchange.

Reliance Cap Q2 net falls

Reliance Capital posted a 32% decrease in consolidated net profit for the quarter ended September 30, 2009, due to lower capital gains booked in the quarter. The group posted a net profit of Rs 155.8 crore for the quarter as compared to Rs 229.4 crore for the quarter ended September 30, 2008.

Total income increased 11% from Rs 1,305 crore for the quarter ended September 30, 2008, to Rs 1,466 crore. Lower capital gains were booked owing to the planned partial stake sale later this year in Reliance Life Insurance, subject to necessary approvals.

Indian Hotels profit down

Indian Hotels Company Limited (IHCL), a Tata group company that runs the Taj Hotels Resorts and Palaces chain of hotels, on Friday reported a fall of 77% in its profit after tax to Rs 11.87 crore in the quarter ending September 30, 2009 as compared to Rs 50.66 crore in the same period last year. The companys total income stood at Rs 307.19 crore for the September quarter as against Rs 367.82 crore a year ago. This is the time to grow capacity and not to chase rates. We are seeing improvement in the market and expect the occupancy rates to be the much ahead of last November. However, the lean period for bookings has come down from typical four to five months to few days, said, executive director- finance, IHCL, Anil Goel.

Nestle Q3 profit up 39%

Nestle India on Friday said its net profit rose by 38.70% to Rs 182.76 crore for the third quarter ended September 30, over the same period last year. Total income increased to Rs 1,311 crore for the quarter ended September 30, against Rs 1,115.7 crore in the same period last fiscal.

Bharat Electronics net up

Bharat Electronics Ltd on Friday said its net profit rose to Rs 237.35 crore for the second quarter ended September 30, an increase of 91.82% over the same period in pthe previous year.

Novartis PAT at Rs 33 cr

Novartis India Ltd, for the quarter ended September 30, 2009, said profit after tax stood at Rs 33.3 crore compared to Rs 21.4 crore in the corresponding period of the previous year. Sales, at Rs 161.5 crore, registered a growth of 4.6% over sales during the corresponding previous quarter. During the quarter under review, Novartis' core business, pharmaceuticals with sales of Rs 113.5 crore, grew by 7.8% over the corresponding previous period. The generics business recorded sales of Rs 10 crore.

Ashok Leyland net up

Buoyed by an impressive performance in August and September particularly on the volume side, Hinduja Group flagship Ashok Leyland Limited registered a 31.8% rise in its net profit for the second quarter of the current fiscal at Rs 8,8.60 crore as compared to Rs 67.24 crore during the same quarter last fiscal. This is despite a 15.7% decline in sales at Rs 1,577.68 crore as compared to Rs1,870.47 crore, showing a 16.9% drop in vehicles volume, from 17,207 units to 14,297 units.

Central Bank profit leaps

Central Bank of India has registered a growth of 227% in net profit to Rs 313.92 crore for the quarter ended September 30, 2009, in comparasion with Rs 96.15 crore recorded in the same period during the corresponding fiscal, The bank has plans to raise capital worth Rs 700 crore during the remaining part of the current fiscal.

Total business of the bank increased to Rs 2,43,718 crore as on 30 September, 2009, thus showing a growth of 23.6%.

ABB India profit down

ABB India posted a net profit of Rs 83 crore for the quarter ended September 30, 2009 as compared to Rs 104.7 crore reported in the same period a year ago. For the same period, total Income of the company declined to Rs 1,469 crore from Rs 1,559 crore, the company said.

Syndicate Bank net down

Syndicate Bank has posted a net profit of Rs 177.8 crore for the quarter ended September 30, 2009, as compared to Rs 261.9 crore reported in the same period a year ago. For the same period, total income of the bank increased to Rs 2,820 crore from Rs 2,527 crore, the bank said.

GE Shipping net falls 82%

Great Eastern Shipping Company on Friday said its consolidated net profit declined by 81.95% to Rs 106.47 crore for the second quarter ended September 30, against same period last year. Total income declined to Rs 716.50 crore in the latest quarte rended September 30, against Rs 1,152.56 crore in the same period previous fiscal.

Orchid Chem posts loss

Orchid Chemicals & Pharmaceuticals Ltd achieved a turnover and operating income of Rs 314.41 crore for the quarter ended September 30, 2009 compared to Rs 348.45 crore during the corresponding quarter of the last fiscal. EBIT stood at Rs 49.63 crore as compared to Rs 67.22 crore of the corresponding quarter of last year. Loss before tax for the second quarter was at Rs 11.58 crore compared to a loss of Rs 45.58 crore during the corresponding Q2 of the last fiscal.

MTNL net declines

MTNL on Friday reported a 77.5% decline in its net profit at Rs 20.58 crore for the second quarter ended September 30, 2009. MTNL had a net profit of Rs 91.49 crore in the same quarter last year.

Aurobindo PAT up

Aurobindo Pharmas consolidated operating income was up 24.4% to Rs 882.6 crore from Rs 709.4 crore with the gross margin improving to 52.2% from 49.1%. The operating profit stood at Rs 207 crore from Rs 124.9 crore and PAT was at Rs 106.8 crore from Rs 66.7 crore.

RCF profit dips

Rashtriya Chemicals & Fertilisers (RCF) reported a 33.48% drop in net profit at Rs 56.12 crore for the second quarter ended September 30, 2009.

Religare back in black

Religare Enterprises on Friday reported a consolidated net profit of Rs 29.9 crore for the second quarter ended September 30, 2009, while it had a net loss of Rs 48.2 crore in the same period last year. Revenues rose to Rs 414.8 crore in the latest quarter ended September 30 against Rs 274.2 crore in the same period last year.

IVRCL net drops

IVRCL Infrastructures & Projects Ltd reported a net profit of Rs 48.77 crore against Rs 57.10 crore in the same period previous year. Income from operations stood at Rs 1,245.10 crore against Rs 1,157.15 crore. IVRCL said it is in the process of demerging IVR Strategic Resources & Services Ltd and IVRCL Water Infrastructures Ltd from IVRCL Infrastructures & Projects Ltd and merging them with its real estate arm IVR Prime Urban Developers Ltd.

JK Tyre PAT at Rs 59 cr

JK Tyre & Industries on Friday reported a profit after tax of Rs 59.51 crore for the quarter ended September 30 on account of overall cost management by the company. The company had posted a loss of Rs 32.37 crore during the corresponding period last fiscal, according to a release issued by it.