Power equipment manufacturer Bharat Heavy Electricals Ltd (Bhel) on Wednesday said net profit during January-March 2010 surged 42% to Rs 1,909 crore. During the same period, net sales increased from Rs 10,540 crore to Rs 13,559 crore. The company?s earning per share increased to Rs 39.01 from Rs 27.53. Bhel?s board of directors recommended a final dividend of Rs 12.30 a share, taking total dividend for the fiscal 2009-10 to Rs 23.50 a share.

The company?s net profit in fiscal 2009-10 was Rs 4,301 crore against Rs 3,138 crore. Net sales increased to Rs 32,880 crore from Rs 26,234 crore in the same period. Segment wise, the company earned revenues of Rs 26,860 crore from the power sector and Rs 7,878 crore from industry. Meanwhile, the company reported a consolidated net profit of Rs 4,326 crore for the fiscal, compared with Rs 3,115 crore in the preceeding financial year. Consolidated net sales increased from Rs 26,513 crore to Rs 33,173 crore.

IHCL loss at Rs 137 crore

Indian Hotels Company, that runs Taj Hotels Resorts and Palaces, has posted a consolidated loss of Rs 136.88 crore for the year ended March 31, 2010, against a profit of Rs 12.46 crore in the same period last year. For the March quarter (standalone), the growth was strong, with an improvement in average room rates. In the March quarter, the company posted a net profit of Rs 59.91 crore as against Rs 38.25 crore in the same period last year. This is an increase of 56%. Total income grew to Rs 443.34 core in March 31, 2010 against Rs 418.22 crore in the same period last year. Raymond Bickson, managing director, IHCL, said, ?Our consolidated profitability was impacted by the overall industry downturn and our properties in the US market.? Anil Goel, executive director (finance), IHCL, said, ?The 2009-10 period has been unique. The first half was bad and it is a lean time for the industry. The second half saw some pick up.?

He added that the company is focused on cost management and controlling any further increase in its consolidated debt. The company has a consolidated debt of Rs 3,800 crore on its accounts, which has been brought down from Rs 4,600 crore earlier.

This, it said, was managed through various steps, including restructuring the debt over larger period and leveraging IHCL accounts in a bid to hive off the debt on its international subsidiaries. IHCL has a Rs 600 crore cash flow on its account now. The staff cost during the year went down by 2% to stand at Rs 844.21 crore on consolidated basis. The company does not plan to sign off any new projects in the next 12 months.

Godrej Industries profit up 2 fold

Godrej Industries on Wednesday reported a consolidated net profit of Rs 203 crore for the year ended March 31, 2010. The company registered a net profit of Rs 111 crore in the fiscal ended March 31, 2009. ?In view of change in the company?s shareholdings in some of the subsidiaries, joint ventures and associates, as also business restructuring in some of these companies, the consolidated results for the year are not strictly comparable with those of the previous year,? the filing added. Total income stood at Rs 3,675.5 crore for 2009-10 against a total income of Rs 3,506.8 crore in the previous fiscal. On standalone basis, the company posted a net profit of Rs 80.9 crore for 2009-10, a jump of four-fold over the same in the year-ago period.

Power Grid net profit up 21%

Central transmission utility Power Grid on Wednesday said its net profit increased 21% to Rs 2,041 crore in the financial year 2009-10. Its turnover rose from Rs 6,139 crore to Rs 7,504 crore during the same period. The central utility?s earnings per share (EPS) increased to Rs.4.85 from Rs 4.02 while book value went up to Rs 37.81 from Rs 34.73. The company incurred a capital expenditure of Rs 10,586 crore, compared with Rs 8,167 crore in the preceding fiscal. The company operated around 75,289 ckt km of transmission lines along with 124 sub-stations as on March 31, 2010. Power Grid wheels about 50% of total power generated in the country through its transmission network.

Bajaj Electricals Q4 profit dips

Bajaj Electricals on Wednesday said net profit declined 21% to Rs 37.46 crore for the quarter ended March 2010, as compared to the same period last year. Net sales rose to Rs 784.20 crore for the quarter ended March 31, from Rs 657.24 crore in the same period previous fiscal, the company informed the Bombay Stock Exchange.

Deepak Fertilisers net profit up 15%

Deepak Fertilisers and Petrochemicals Corporation reported a net profit rise of 15.70% to Rs 172.05 crore in 2009-10 against Rs 148.70 crore in 2008-09. Earnings per share went up to Rs 19.51 compared to Rs 16.86 in the previous year. Profit before tax increased 12.16% to Rs 237.78 crore in 2009-10, from Rs. 212.00 crore in 2008-09.