Castrol Q1 net rises 19%
Castrol India has reported a 19% increase in net profit to Rs 32 crore for the first quarter ended March 31, 2005 as compared to Rs 26.8 crore for the corresponding quarter last year. Net sales grew by 10% to Rs 319.7 crore from Rs 289.4 crore last year. This performance is a result of both volume and realisation improvement, despite the uncertainty surrounding VAT affecting trade off take in March, said a company statement. Commenting on the results, Castrol India MD Naveen Kshatriya said: The continued strong performance in revenue can be largely attributed to the successful implementation of innovative marketing and sales initiatives over the last 12 months.
Sify pares FY05 loss to Rs 31 crore
Sify Ltd, an internet and e-commerce services company, has reduced its net losses for the year ended March 2005 to Rs 30.75 crore ($7.05 million) from Rs 37.1 crore ($8.51 million) during the previous year, a company release said.
The companys cash profit for the year has grown by 160% to Rs 22.5 crore from Rs 8.4 crore during the previous year. Sifys revenues increased by 29% to Rs 361.1 crore from Rs 280 crore inthe previous year. While the depreciation and amortisation expenses stood at Rs 57.1 crore the interest charges were Rs 5.1 crore .
Hexaware Q1 net up 102%
Hexaware Technologies, has posted a 101.6% growth in net profit to Rs 23.2 crore for Q1ended March 2005, as compared to Rs 11.5 crore in previous March quarter. This is on back of a 43.4% growth in global gross revenues to Rs 164.1 crore for March 2005 quarter.