Adani Power on Tuesday reported a whopping 51% jump in its net profit at Rs 109.1 crore for the quarter ended December 31, 2010, over the same period a year ago. The company reported a net profit of Rs 72.4 crore in the corresponding quarter of the previous financial year, Adani Power said in a filing to the Bombay Stock Exchange. Net sales of the company rose 115% to Rs 502.6 crore from Rs 233.5 crore during the same period last fiscal. Adani Power also informed BSE about the appointment of Ravi Sharma as the whole-time director of the company for a period of five years. Adani Power has commissioned a 2,000 mw power project at Mundra in Gujarat and an additional 2,600 mw plant will be commissioned by March 2012. It is also building 3,300 mw project at Bhadreshwar in Kutch, and 600 mw at Dahej and 4,000 mw at Dholera and all these power plants shall be completed to create a capacity of 15,000 mw by 2015.

Uninor EBITDA loss at Rs 820 cr

New telecom entrant Uninor?s cautious steps in India are proving fruitful. The company, which is a joint venture between Norway?s Telenor and India?s Unitech, has recorded an increase in its revenues for the fourth quarter (Oct-Dec 2010) to the tune of Rs 320 crore against Rs 2.4 crore in the same quarter of the previous year. For the full year 2010, it clocked revenues of Rs 618 crore. ?Uninor in India added more than four million subscriptions in the fourth quarter and I am pleased to see that our go-to-market model is gradually improving. India is a very competitive market coupled with a challenging regulatory environment, and we are focusing strongly on establishing Uninor as an ultra-low cost operator,? said Jon Fredrik Baksaas, president & CEO, Telenor Group. Uninor?s total ebitda loss for the quarter was Rs 820 crore, slightly lower than previous quarters mainly due to adjusted energy expenses somewhat offset by sales and marketing costs. At the end of 2010, Telenor?s ownership interest in Uninor was 67.25%.

PowerGrid net jumps 21% to Rs 591 crore

Central transmission utility PowerGrid Corp on Tuesday reported a net profit of Rs 591.1 crore for the quarter ended December 31, 2010, an increase of 21% over the same period last fiscal. Total revenues rose by 21% to Rs 2,052.1 crore compared to that in the same quarter last fiscal, PowerGrid said in a filing to the Bombay Stock Exchange. PowerGrid had earned Rs 1,690.6 crore revenue from operations in the quarter ended December 31, 2009, it added. Shares of the company closed at Rs 95.70 on BSE, down by 2.20 per cent ovetr the previous close.

Finolex Cables PAT rises marginally to Rs 26.1 cr

Electrical and communication cables maker Finolex Cables on Tuesday reported a 2.13% jump in net profit at Rs 26.1 crore for the third quarter ended December 31, 2010, over the same period a year ago. The company had a net profit of Rs 12.2 crore in the corresponding period last year, Finolex Cables said in a filing to the BSE. Net sales of Finolex increased to Rs 505.3 crore in the October-December quarter from Rs 413.4 crore in the same period a year-ago, it added.

Pidilite consolidated net up 35% at Rs 80.57cr

Adhesive maker Pidilite Industries on Tuesday reported a 35% increase in its consolidated net profit for the third quarter of the current fiscal at Rs 80.57 crore. The company had reported a net profit of Rs 59.69 crore in the corresponding quarter a year-ago, it said in a communique to the BSE. Net sales of the firm were up to Rs 669.32 crore during the October-December quarter of the current fiscal against Rs 522.14 crore in the same quarter last fiscal. The scrip of the company closed 0.64% higher at Rs 126.05 per share on the BSE on Tuesday.

MRPL net jumps 21% to Rs 313.76 crore

Mangalore Refinery and Petrochemical (MRPL) on Tuesday reported 21% jump in net profit for the quarter ended December 31, 2010, on higher refining margin. Net profit in the October-December quarter was Rs 313.76 crore as opposed to Rs 259.54 crore in the same period a year ago, MRPL MD U K Basu said.

Hinduja Global Q3 net down 7.22% at Rs 28 cr

IT outsourcing firm Hinduja Global Solutions on Tuesday posted a 7.22% decline in its consolidated net profit at Rs 28.01 crore for the quarter ended December 31, 2010.