Bike market leader Hero Honda on Thursday reported a y-o-y 5.38% drop in net profit for the quarter ended September 30 at Rs 204.3 crore, due to increased cost management and softer input costs apart from higher sales in the premium segment. The company, that beat street expectations as analysts expected profits to fall more steeply, said net sales in Q2 FY08 was up 5.4% at Rs 2,352 crore against Rs 2,229.9 crore in July-September 2006.
Ranbaxy net at Rs 207.4 cr
Ranbaxy Laboratories Ltd (RLL) on Thursday said that its board of directors has ?in-principle? approved to hive its drug discovery research into a new entity. The company also posted about Rs 207.4 crore as net profit during the quarter ended September 30, which was up 48% as compared to Rs 140 crore recorded during the corresponding period last year. The company’s consolidated revenues for the third quarter grew by about 1% to Rs 1,652 crore as compared to Rs 1,640 in the corresponding quarter last fiscal. The company also declared an interim dividend of Rs 2.5 on a share of Rs 5 each for its shareholders. ?The hiving off would unlock significant value and the company. The proposed demerger of our drug discovery and research operations will provide greater flexibility and impetus to our research arm while unlocking value for the company and its shareholders,? CEO and MD of Ranbaxy Malvinder Mohan Singh said.
ACC net profit up 30%
Riding on strong demand from the housing, construction and infrastructure sectors, India’s largest cement company ACC Ltd has registered a 30.1% jump in profits for the third quarter ending September 30, at Rs 292.42 crore as compared to Rs 224.81 crore for the corresponding period of the previous year. Sales was up 21.8% at Rs 1678.78 crore during the quarter as against Rs 1377.75 crore during the same quarter of the previous year. Profit before interest, depreciation, exceptional items and tax, is up by 23.2% at Rs 476.99 as against Rs 387.09 crore on account of higher volume of sales and better product mix, improvements in realisation as offset by substantial increase in cost of inputs. For the nine month ending September 30, profit was up 15.3% at Rs 1007.41 crore as against Rs 873.47 crore. Sales turnover increased 24.7% to Rs 5221.56 crore as against Rs 4184.93 crore in the first three quarters of 2006.
GMR net at Rs 141.34 cr
GMR Infrastructure Ltd (GIL) registered a net profit of Rs 141.34 crore for the first half year ended September 2007, up from Rs 135.30 crore reported in the same period last year. For the same period, the company’s gross operating revenues surged by 26.96% to Rs 1, 062.84 crore from Rs 837.13 crore. The revenue for the period includes income from the Delhi Airport, which stood at Rs 413.99 crore. For the second quarter ended September 2007, the company has registered consolidated gross operating revenues of Rs 500.45 crore, up 30.65% from Rs 383.04 crore in the same period a year ago. The company had an ?other income? of Rs 10.41 crore which comprised gains realised on investment of surplus cash and the temporary deployment of IPO proceeds during the period. GIL?s net operating revenue was higher by 26.51% at Rs 395.31crore. GIL?s net profit in the quarter also increased by 1.77% to Rs. 71.85 crore from Rs.70.60 crore a year ago.
Orchid Q2 net up 115%
Chennai-based Orchid Chemicals & Pharmaceuticals Ltd has reported a 115% growth in its net profit for the second quarter ended September 30, 2007 to Rs 63.27 crore as against Rs 29.45 crore during the same quarter last fiscal. The turnover during the quarter stood at Rs 295.12 crore as compared to Rs 245.73 crore, registering a growth of 20% over the corresponding quarter of last fiscal. EPS grew to Rs 9.61 from Rs 4.48 of the corresponding period of the last fiscal, said a company statement in Chennai on Thursday.
Biocon net up 20%
Biocon Ltd has posted a 20% growth in net profit for the past quarter, touching Rs 54 crore compared to profit of Rs 45 crore posted for a year – ago quarter. The company’s revenue during the period was up 12% at Rs 280 crore from Rs 250 crore posted during the corresponding quarter. For the past half year, Biocon?s net profit was up 27.3%, at Rs 107 crore compared to Rs 84 crore for the first half of the past year. Revenue of the company recorded growth of 19% at Rs 553 crore, from Rs 463 crore a year-ago. Biopharmaceuticals contributed a major part of the company’s revenue, accounting for Rs 386 crore in the past six months, while contract research services accounted for Rs 118 crore.
Unichem Labs net down
Unichem Laboratories has registered net profit of Rs 21.3 crore for the quarter ended September 30, 2007 against Rs 25.7 crore for the corresponding quarter of the previous year. It has recorded sales of Rs 153.1 crore against Rs 149.2 crore for the corresponding quarter of the previous year.
BAFL PAT at Rs 3.78 crore
Sliding sales of Bajaj Auto has affected the profitability of Bajaj Auto Finance Ltd (BAFL). About 60% of the company’s finance goes to the two-wheeler retail-financing segment. BAFL has seen a 38.64% dip in profit after tax to Rs 3.78 crore for quarter ended September 30, 2007 from Rs 6.16 crore in the same quarter last year. Operating profit for Q2 are also down by 31.13% to Rs 6.26 crore from Rs 9.09 crore last year.
SKF sales up 14%
SKF India Ltd posted a 14% rise in sales to Rs 386.98 crore for the third quarter ended September 30, 2007. PBT for the quarter was Rs 65.87 crore compare to Rs 34.03 crore last year. Net profit for the quarter went up 92% to Rs 43.10 crore.
Omaxe net jumps 126%
Realty firm Omaxe on Thursday posted a 126% jump in consolidated net profit at Rs 233.7 crore in the first half of current fiscal against Rs 103.3 crore in the same period last year. The company also announced development of nine hotels at an investment of Rs 600 crore, excluding land cost. Omaxe registered a growth of 78% in the consolidated revenues at Rs 1,054.57 crore for the half year period ended September, compared to Rs 592.5 crore in the year-ago period. It is targeting a net profit of Rs 550 crore over a turnover of Rs 2,600 crore in the current fiscal.
