Bajaj Holdings & Investment on Thursday reported a consolidated net profit of Rs 385.08 crore for the first quarter ended June 30, a seven-fold rise over the year-ago period. The company had a consolidated net profit of Rs 51.37 crore during the June quarter a year earlier, Bajaj Holdings & Investment said in a filing to the Bombay Stock Exchange. The consolidated total income of the investment firm rose to Rs 304.50 crore during the quarter from Rs 21.64 crore in the corresponding period a year ago.

On a standalone basis, Bajaj Holdings & Investment posted a net profit of Rs 291.20 crore during the latest quarter, a 19-fold growth over the same period last year. Shares of Bajaj Holdings & Investment closed at Rs 401.20 on BSE, up by 4.37% from its previous close.

JK Tyre net at Rs 41 crore

Riding on the back of increased demand for passenger radial tyres, JK Tyre and Industries has doubled its net profit for the first quarter of 2009-10. The company’s net profit for the April-June quarter went up by 101.33% to

Rs 40.75 crore compared to Rs 20.24 crore during the same quarter of 2008-09. Net sales for the first quarter also grew by 5.73% to Rs 897.67 crore vis-?-vis Rs 849.06 crore in the year-ago period.

The company’s board has recommended a dividend of 27% for the period October 2007 to March 2009 as the company had earlier followed the calendar year as its financial year.

Polaris profit rises 18%

Polaris Software Lab on Thursday reported a rise of 18% in its consolidated profit after tax for the quarter ended June 30 to Rs 31.83 crore against Rs 27.01 crore during the June quarter a year earlier, the company said in a filing to the BSE. The consolidated gross profit of the company rose to Rs 117.67 crore from Rs 102.30 crore in the year-ago period. Shares of Polaris Software were trading at Rs 103.15, up 1.88%.

Zee Entertainment net dips

Zee Entertainment Enterprises on Thursday reported a fall of 43% in its consolidated net profit for the first quarter ended June 30 to Rs 91.32 crore as against Rs 160.71 crore during the June quarter a year ago. The consolidated total income of the entertainment firm fell to Rs 508.44 crore during the quarter from Rs 569.76 crore in the same quarter a year earlier. On a standalone basis Zee Entertainment posted a net profit of Rs 71.27 crore during the April-June period of the current financial year, down 45.58%, compared to Rs 130.97 crore. Shares of Zee Entertainment were trading at Rs 173, up 5.58%, on the BSE.

ICI India net at Rs 69 cr

Paints and specialty chemicals manufacturer ICI India on Thursday reported a decline of 2.42% in its net profit at Rs 69.16 crore for the quarter ended June 30, 2009, compared to Rs 70.88 crore in the same period ended June 2008. Net sales rose to Rs 240.30 crore against Rs 227.52 crore in the same period last year.

Novartis India net up 7%

Drug firm Novartis India has said its net profit rose by 7% to Rs 3.17 crore for the quarter ended June 2009. The company had a net profit of Rs 2.96 crore in the same

quarter ended June 2008, it said in a filing to the BSE. Total income from operations rose to Rs 16.12 crore in the latest quarter against Rs 15.57 crore in the same quarter last fiscal. Shares of Novartis India on Thursday closed at Rs 402.30 on the BSE, up 1.03% from the previous close.

Welspun-Guj Stahl net up

Welspun-Gujarat Stahl Rohren, the flagship of Welspun Group, on Thursday said its net profit rose by 94.27% to Rs 138.21 crore for the quarter ended June 30, 2009, as against Rs 71.14 crore in the same quarter ended

June 2008.

This quarter includes the extra-ordinary earnings of Rs 37.53 crore from reversal of foreign provisions and coil sales, it said in a filing to the BSE. Net sales rose to Rs 1,879.80 crore against Rs 1,090.36 crore in the same period of the last fiscal.