Hindalco net at Rs 545 cr ; Siemens profit rises 68%

Written by Agencies | feBureau | Mumbai, Kolkata, Bangalore, Pune | Updated: Feb 1 2009, 04:19am hrs
Industryreport
Hindalco Industries Ltd, the flagship company of Aditya Birla Group and India's top aluminium maker, on Friday announced a marginal growth in its net profit at Rs 544.80 crore for the third quarter ended December 31, 2008, against Rs 542.67 in the corresponding quarter last year.

"Higher metal production, consequent to the Hirakud brownfield expansion, profit improvement measures and higher other income were the drivers of growth in net profit," the company said in a statement.

The company's net sales for the quarter, however, fell to Rs 4,117 crore as compared to Rs 4,539 crore last year.

"The steep reduction in aluminium and copper LME led to a fall in overall sales revenue; this was mitigated by the depreciation of the rupee against the dollar," the company said.

Hindalco's shares on Friday were up 6.51%; they closed at Rs 49.05 on the Bombay Stock Exchange.

Revenue in the aluminium business rose 14% to Rs 1,980 crore, against Rs 1,736 crore in Q3 FY08 on the back of highest-ever metal volumes. In the copper business, the company's revenue stood at Rs 2,139 crore, 24 % lower that the Q3 FY08 revenue of Rs 2,806 crore, as a result of the 46% lower LME.

Siemens net jumps

Siemens Ltd posted a 68% rise in net profit at Rs 331 crore for the first quarter ended December 31, 2008. Its operating profit was up 9% at Rs 152 crore, as compared to the year-ago period. The company also reported a 15% decline in sales turnover at Rs 1,629 crore for the first quarter ended December 31, 2008. During the period, new orders for Siemens Ltd rose by 4% to Rs 1,979 crore, as compared to the corresponding period in the previous year.

The company's unexecuted order value position as on December 31, 2008, was Rs 10,258 crore.

Titan net down 61.8%

Titan Industries registered a net profit of Rs 11.77 crore for the third quarter ended December 31, 2008, a drop of 61.8% year-on-year from Rs 30.84 crore in the third quarter last fiscal.

Net sales and income from operations of the company grew 27.6% y-o-y to Rs 1,023 crore from Rs 802 crore, while total expenditure of the company grew 28% at Rs 972 crore.

According to a statement issued by the company to the BSE, Titan Industries provided an amount of Rs 175.8 crore towards income tax and interest of earlier years in the third quarter of this fiscal.

Aurobindo income up

Aurobindo Pharma registered a total income of Rs 828 crore during the quarter ended December 31, 2008, compared to Rs 577.6 crore recorded during the year-ago period.

Operating profit after tax before forex loss of the company stood at Rs 98.9 crore, up from Rs 35 crore during the year-ago period, a growth of 182.6%.

However, PAT during the quarter was at Rs 41.8 crore. Formulation sales were up 43.2% year-on-year at Rs 353 crore, from Rs 246 crore.

Godrej Ind profit dips

Godrej Industries Ltd (GIL) reported an 81.5 % dip in its net profit at Rs 5.1 crore for the quarter ended December 31, 2008, as against Rs 27.1 crore for the corresponding period last year.

The company's total income increased from Rs 668 crore for the quarter ended December 31, 2007 to Rs 803 crore for the quarter ended December 31, 2008--an increase of 20%.

Godrej Industries Ltd is a diversified company, with interests in chemicals, animal feed, processed food and beverages, as well as property.

Hinduja Global net dips

Hinduja Global Solutions, a provider of outsourcing services, posted a net profit of Rs 21.5 crore for the quarter ended December 31, 2008, as compared to Rs 23.3 crore during the corresponding quarter last year.

PAT (profit after tax) for Q3 FY09 included a higher tax provision of Rs 6.8 crore, while there was a minimum alternate tax (MAT) credit of Rs. 5.1 crore considered in PAT for Q3 FY08.

Hinduja Global Solutions posted an increase of 31.9% in its revenue to Rs 218.6 crore for the quarter ended December 31, 2008, as compared to Rs 165.6 crore during the corresponding quarter last year.

Earnings per share of the company stood at Rs 10.47 for the current quarter, as compared to Rs 11.37 during the corresponding quarter last year.

McNally Bharat PAT at Rs 16cr

McNally Bharat Engineering, a Williamson Magor group enterprise, reported a profit after tax of Rs 16.07 crore on a total income of Rs 569.57 crore for the quarter ended December 2008, compared to a PAT of Rs 14.53 crore on an income of Rs 344.65 crore during the year-ago period.

Profit before tax during the quarter was at Rs 24.92 crore, as against Rs 19.65 crore in the corresponding quarter of the previous fiscal, according to a release issued by the company. Earning per share was Rs 5.17.

In spite of a slowdown in certain sectors, the company's top line during the quarter increased by 65%, keeping it in line with a higher target for the fiscal, the release said.

Jain Irrigation Systems Ltd

Jain Irrigation Systems Ltd (JISL) after absorbing the higher notional loss of Rs.8.66 crores on Long Term Foreign Currency loans posted an increase of 24% in its net profit to Rs 55.6 crore for the quarter ended December 31, 2008 as compared to Rs 44.85 crore during the corresponding quarter last year.

The company also posted growth of 29.4 % in its net income to Rs 531.9 crore for the current quarter as compared to Rs 410.90 crore during the corresponding quarter last year.

Earnings per share of the company stand at Rs 7.69 for the current quarter as compared to Rs 7.05 during the corresponding quarter last year.

The domestic revenues which constitute around 77% of total revenues have grown by above 33% at Rs.411.4 crore as against Rs.308.3 crore last year.

Mercator Lines net at Rs 30.81 crore

Mercator Lines Ltd posted a net profit of Rs 30.81 crore for the quarter ended December 31, 2008, as compared to Rs 58.72 crore during the corresponding quarter last year.

The company also posted an increase of 40% in its revenue at Rs 530.82 crore for the quarter ended December 31, 2008, as compared to Rs 378.12 crore during the corresponding quarter last year.

Earnings per share of the company stood at Rs 0.84 for the current quarter, as compared to Rs 2.50 during the corresponding quarter last year.

Finolex Industries Limited

Finolex Industries Ltd reported a net loss of Rs 60.92 crore for the quarter ended December 31, 2008, against a net profit of Rs 21.57 crore during the year-ago period. Loss before tax touched Rs 93.58 crore for the quarter, as against a profit before tax of 29.24 crore for the same period last year.

Total income of the company dropped 3.4% to Rs 462.88 crore during the quarter, against Rs 479.21 crore during the corresponding period in the previous year.

Exchange loss and loss on un-hedged exposure amounted to Rs 64.99 crore during the quarter.

The company's net loss for the nine-month period ended December 31, 2008, dropped to Rs 70.93 crore, against a net profit of Rs 69.97 crore during the year-ago period. Total income during the nine-month period rose 12.43% to Rs 1,175.05 crore, compared to Rs 1,134.01 crore year on year.

A statement issued by the company said that although company achieved a growth of 20 % during the quarter, the sales realizations have been lower on account of sudden and sharp reduction in selling prices of its products as result of similar reduction in global polymer prices.

Berger Paints net at Rs 15 cr

Berger Paints reported a net profit of Rs 14.96 crore for the quarter ended December 31, 2008, compared to Rs 23.25 crore during the corresponding period of the previous fiscal.

Sales for the quarter under review increased to Rs 358.25 crore, against Rs 354.38 crore in the year-ago period. Sales for the first nine months of the current fiscal were at Rs 1,157.6 crore, compared to Rs 1,005.1 crore during the corresponding period last year. Expenditure also increased to Rs 336.63 crore from Rs 324.37 crore.

A press statement issued by the company quoted managing director Subir Bose as saying, "Although the operating environment in the third quarter was difficult, the future environment is expected to improve. Forecast for GDP growth is approximately 7%, and historically, paint consumption in India has grown at 1.5 times GDP growth."

"With lower raw material prices, higher liquidity and lower interest rates, aided by a fair agricultural growth, the outlook for the paint industry appears to be good. The company is in a position to meet the expected market demand," the statement added.

Hinduja Global Solutions

Hinduja Global Solutions, a provider of outsourcing services, posted a net profit of Rs 21.5 crore for the quarter ended December 31, 2008, as compared to Rs 23.3 crore during the corresponding quarter last year.

PAT (profit after tax) for Q3 FY09 included a higher tax provision of Rs 6.8 crore, while there was a minimum alternate tax (MAT) credit of Rs. 5.1 crore considered in PAT for Q3 FY08.

Hinduja Global Solutions posted an increase of 31.9% in its revenue to Rs 218.6 crore for the quarter ended December 31, 2008, as compared to Rs 165.6 crore during the corresponding quarter last year.

Earnings per share of the company stood at Rs 10.47 for the current quarter, as compared to Rs 11.37 during the corresponding quarter last year.