This is mainly on account of a significant rise in the net profit of some major companies like Hind Lever Chem, Munjal Showa, Karur Vysya Bank, Denso India, State Bank of Indore, Mirza Tanner and Balmer Lawrie-Vanieer.
The net profit of Munjal Showa increased by 150.0 per cent to Rs 9.75 crore during January-March 2002 from the level of Rs 3.90 crore during January-March 2001. The sales of the company also increased by 42.9 per cent to Rs 90.40 crore during January-March 2002.
Mirza Tanner is another notable example. The company registered a sharp 2124.1 per cent increase in net profit and a 20.7 per cent rise in sales to Rs 44.68 crore during the fourth quarter.
In the Banking sector, State Bank of Indore has performed better. While its main income grew 24.6 per cent to Rs 258.14 crore, the net profit increased by 165.7 per cent to Rs 80.06 crore.
The other income of State Bank of Indore increased by 13.3 per cent to Rs 79.96 crore during January-March 2002.
There are some big companies whose performances have been adversely affected in terms of net profit. The list includes AstraZeneca Pharma, Shreyas Shipping, Himatsingka Seide, Nucleus Soft, Ugar Sugar Works and State Trading Corporation.
The net profit of AstraZeneca Pharma declined by 91.1 per cent to Rs 44 lakh during January-March 2002 from the level of Rs 495 lakh during January-March 2001. And its main income also declined by 31.0 per cent to Rs 26.01 crore during January-March 2002.
From the other sectors, Finolex Cable was able to show substantial improvement in its net profit, and its sales also increased marginally during the fourth quarter. Sales of the company increased by 1.0 per cent to Rs 176.27 crore, while net profit improved 55.8 per cent to Rs 22.34 crore in the quarter ended March 2002.
Significant loss was reported by the companies like AFT Industries (Rs 3.33 crore), Hughes Tele (Rs 44.20 crore), India Infra Development (Rs 26.35 crore), Mysore Paper Mill (Rs 32.92 crore) and MTZ Polyfilm (Rs 5.20 crore) during the fourth quarter.
Significant increase in PAT to sales ratio was reported by the companies like Munjal Showa (6.16 per cent in January-March 2001 to 10.79 per cent in January-March 2002), Finolex Cable (8.21 per cent to 12.67 per cent), Karur Vysya Bank (19.66 per cent to 33.31 per cent), Denso India (0.12 per cent to 6.70 per cent), State Bank Of Indore (14.54 per cent to 31.01 per cent), Mirza Tanner (0.78 per cent to 14.44 per cent) and Aadi Industries (4.39 per cent to 8.60 per cent).
An opposite trend can be seen in the case of Nucleus Soft (31.58 per cent to 13.87 per cent), ITC (25.42 per cent to 17.29 per cent), Shreyas Shipping (8.10 per cent to 0.93 per cent), Ugar Sugar Works (28.52 per cent to 14.57 per cent), Megasoft (11.49 per cent to 0.66 per cent), Astra Zeneca Pharma (13.13 per cent to 1.69 per cent) and Nelco (138.85 per cent to 20.07 per cent).
In the overall front, the total sales of the 515 major companies increased by 4.9 per cent to Rs 78,748 crore during January-March 2002 from the level of Rs 75,095 crore during January-March 2001. Other income of these companies increased by 10.7 per cent to Rs 3,091 crore during January-March 2002 from the level of Rs 2,792 crore during January-March 2001.
The operating profit registered a rise of 11.2 per cent to Rs 23,414 crore (Rs 21,062 crore). Gross profit also increased by 16.2 per cent to Rs 14,295 crore during January-March 2002 from the level of Rs 12,301 crore during January-March 2001.
Profit before tax showed a growth of 14.0 per cent to Rs 9,983 crore (Rs 8,755 crore) during January-March 2002. The profit margin (PAT to sales) increased from 8.82 per cent to 9.85 per cent.
The average EPS of 515 major companies increased by 8.2 per cent to Rs 1.96 during January-March 202 from the level of Rs 1.81 during January-March 2001.