Shipping Corp net up 40%
Shipping Corporation of India (SCI) has reported a 40% increase in net profit to Rs 210.13 crore for the second quarter ended September 30, 2005, against Rs 149.95 crore in the corresponding quarter last year. The increase in profits was despite a 6% decline in total income to Rs 747.37 crore from Rs 792.44 crore last year.
However, the net profit during the quarter was low when compared with the immediate preceding quarter in the current fiscal. The company has reported a net profit of Rs 274.07 crore on a total income of Rs 811.93 crore during the first quarter ended June 30, 2005.
FACT pares net loss to Rs 86 cr
Improved turnover and cost-effective measures helped Fertilisers and Chemicals Travancore (FACT) pare its net loss to Rs 85.93 crore during the first half of this fiscal against Rs 97.08 crore during the same period last year. The loss included interest provision for the Central loan that resulted in the company being in the red since 1998.
The provision for the whole of last fiscal was Rs 70 crore raising its loss to Rs 167.96 crore. The delay in making the provision was on account of a relief package worth Rs 600 crore which is yet to arrive. The total income was Rs 638.5 crore against Rs 535.2 crore last year.
BOM net down by 47% at Rs 57 cr
Bank of Maharashtra's half-yearly profits went down by 47% to Rs 57 crore for half-year ended September 20, 2005, from Rs 108 crore for the corresponding period of last year.
The bank attributed this to depreciation of Rs 65 crore on investments. The bank's operating profit was down 31% to Rs 171 crore for H1 this year compared to Rs 248 crore last year first half as it had to provide Rs 64 crore for amortisation expenditure.
For the quarter ended September 30, 2005, total income was down to Rs 629.51 crore from Rs 637.41 crore year-ago period, while net profit was down to Rs 12.35 crore this quarter from Rs 30.50 crore Q2 last year.
Titan net profit up 99.41%
Titan Industries Ltd has posted 99.41% increase in net profit at Rs 20.60 crore for the quarter ended September 30, 2005 as compared to Rs 10.33 crore recorded during the quarter ended September 30, 2004. Total income (net of excise) which stood at Rs 349.40 crore for the quarter ended September 30, 2005 too has increased by 27.70% over Rs 273.61 crore in Q2-05.
IHCL PAT at Rs 26.48 cr
Indian Hotels Company (IHCL) has announced a net profit of Rs 26.48 crore for the quarter ended September 30, 2005 as compared to Rs 22.31 crore achieved in the corresponding quarter last fiscal. Revenues in the same period are up 24% at Rs 226.13 crore as compared to Rs 181.9 crore, driven by an increase in arrivals into India with growth in domestic travel.
Finolex net profit down by 66%
Finolex Industries Ltd (FIL) turnover dropped by 9.16% to Rs 207.34 crore for the second quarter ended September 30, 2005 while net profit went down by 66% to Rs 9.57 crore compared to Rs 28.39 crore same time last year. The company attributed the fall in prices to high feed stock prices and said expansion of PVC resin capacity, which is witnessing a upward trend in prices, will lead to higher margins in coming months.
Transport Corp net up 33%
Transport Corporation of India has reported a 33% increase in net profit to Rs 3.70 crore for the second quarter ended September 30, 2005 as compared to Rs 2.78 crore last year. Net sales grew by 17.3% to Rs 207.33 crore from Rs 176.76 crore last year.
BASF net profit up 32%
BASF India has reported a net profit of Rs 17 crore, higher by 32%, compared to the corresponding quarter last year.
Net sales stood at Rs 191.74 crore (Rs 178.01 crore), an increase of 8% for the quarter ended September 30, 2005. Profit before tax went up by 30%.
Ipca Labs PAT at Rs 17.49 crore
Ipca Laboratories posted a net profit of Rs 17.49 crore for the quarter ended September 30, 2005 as compared to Rs 25.59 crore for the same period last year. Total income increased from Rs 175.06 crore in Q2-05 to Rs 193.56 crore for the quarter.
Sundaram Fin Q2 net at Rs 23 crore
Sundaram Finance Ltd has reported a net profit of Rs 23.25 crore during the second quarter ended September 2005 as compared to Rs 15.28 crore in the corresponding period of the previous year, registering a growth of 52.15%.
Income from operations during the period stood at Rs 125.97 crore, about 43.52% over the corresponding period performance of Rs 87.77 crore. Other income was Rs 7.81 crore (Rs 2.78 crore). Financial expenses and depreciation were Rs 64.42 crore (Rs 40.56 crore) and Rs 4.59 crore (Rs 3.60 crore) respectively.