Profit before tax has also gone up from Rs 13.14 crore for Q1 last year to Rs 25.9 crore for Q1 this year. The company is on a continuous cost cutting programme. Together with increasing revenues, this is leading to higher productivity, said CFO K Rajagopal.
The revenue growth came from significant orders received from power utilities for distribution system improvements, said ABB India vice-chairman and managing director Ravi Uppal.
BHEL Net Surges 43%
New Delhi: Bharat Heavy Electricals Ltd (BHEL) has announced a 43 per cent jump in its net profit for the fiscal 2003-04 at Rs 635.50 crore against Rs 444.51 crore in the previous fiscal.
The revised audited figures were released by BHEL on Tuesday. Earlier, the company had announced a 38 per cent spurt in net profit during the year at Rs 615 crore on the back of rising order book position and improved turnover. Its net sales for the year increased by 14.63 per cent at Rs 8,844.46 crore against Rs 7,715.61 crore in 2002-03.
BHELs net profit for the quarter ending March 31, 2004 increased by 35.91 per cent at Rs 412.54 crore against Rs 303.55 crore in the same period last year. The companys net income during the quarter rose by 13.38 per cent to Rs 3,980.82 crore from Rs 3,510.94 crore in the year-ago period.
Finolex Net Rises 20%
Pune: Finolex Cables Limited has registered a 20 per cent rise in net profit to Rs 29.6 crore for the year ended March 31, 2004. Total income was up 10 per cent to Rs 568 crore from Rs 518 crore during 2002-03. The net profit during the fourth quarter went up by 34 per cent to Rs 3.4 crore compared to Rs 2.5 crore during the corresponding quarter of previous year. Finolexs electrical Cables business recorded a 22 per cent growth. The electrical cables business contributing 72 per cent to the business. The high-end communication cables business, primarily LAN and co-axial cables has also shown a good growth. During the year, Finolex launched new varieties of LAN cables, Flat JFTCs 2-pair drop cable for higher breaking load, Hybrid fibres/ copper cables, lead-free PVC insulated auto cables and Rodent retardant PVC cables. BSNL, which floated its yearly tender for cables requirements, placed an order of 10.8 LCKM with the company.
GPI Net Up At Rs 52 Cr
New Delhi: Godfrey Phillips India (GPI) has announced that for the year ended March 31, 2004, it made a net profit of Rs 52.04 crore, up 32.3 per cent compared with Rs 37.91 crore made in 2002-03. Turnover in 2003-04 was Rs 1,175.89 crore, up 9.15 per cent compared with Rs 1,077.34 crore made in 2002-03.
GPI president KK Modi said, During the last year, we have consolidated our position in the market with constant innovation on the product front. Our exports on the other hand have exhibited growth at over 36 per cent despite the declining dollar.
Turnover for the fourth quarter ended March 31, 2004 stood at Rs 306.13 crore, up 11.25 per cent from Rs 275.16 crore in the corresponding quarter of 2002-03.
Visaka Posts Rs 10-cr Net
Hyderabad: Visaka Industries Ltd (VIL) has posted a net profit of Rs 10.1 crore for the year ended March 2004 registering an increase of 12.5 per cent over last years Rs 9 crore. The turnover was up by 18.4 per cent at Rs 160.3 crore as against Rs 135.4 crore in the previous year. The company board, which met here to take on the record the audited financial results for the year 2003-04, has recommended a dividend of 25 per cent, a payment of Rs 2.5 per share. Accordingly the earnings per share during the year increased to Rs 9.18 as against Rs 8.13 in the previous year.
Blue Dart Net Spurts 24%
Mumbai: Blue Dart Express Ltd has posted a consolidated 23.8 per cent rise in net profit at Rs 27.03 crore for the year ending March 31, 2004 as compared to Rs 21.8 crore in the previous fiscal. The board has recommended a dividend of Rs 4.5 per share for 2003-04 as compared to Rs 2.8 in the previous fiscal. For the fourth quarter ending March 31, the consolidated net profit stood at Rs 7.3 crore as against last years Rs 6.4 crore. Net sales sales grew to Rs 94.4 crore as compared to last years Rs 80.6 crore.