India Incs growth wagon chugs on in third quarter...

Written by Agencies | Bureaus | Mumbai, New Delhi, Chennai, Bangalore, Hyderabad, Jan 26 | Updated: Jan 26 2008, 05:42am hrs
ALL Q3 net up

Hinduja Group flagship company Ashok Leyland on Friday reported a net profit of Rs 120.2 crore for the third quarter ended December 31, 2007 compared to Rs 105.27 crore it clocked during the same period last year.

Net sales revenue of the company stood at Rs 1,800 crore as against Rs 1,777.5 crore it clocked during the corresponding period previous year. Vehicle sales for the quarter stood at 18,965 units and the companys revenue was largely boosted by high proportion sales of fully built vehicles and also larger volumes in engines and spare sales.

Currently, capacity augmentation at existing plants is under progress. Work at the new plant in Uttarakhand is on progress and this plant is expected to create a capacity of 50,000 vehicles by 2010, a company statement said.

TVS Q3 net skids

Auto leader TVS Motor Company on Friday reported a 49% slide in its profit (to Rs 5.83 crore) for the third quarter ended December 31, 2007 compared to Rs 11.46 crore it posted during the corresponding period previous year.

Net sales of the company stood at Rs 875.02 crore (Rs 935.41 crore). While motorcycle sales were lower at 176,158 units during the third quarter compared to 2,19,963 units over the previous period, scooter sales were higher at 65,253 units compared to 61,243 in the previous quarter. Motorcycle sales continue to be affected due to stringent norms followed by retail financiers, restricted availability and higher interest rates.

The company plans to introduce the Apache RTR EFI motorcycle in the fourth quarter.

The 160cc motorcycle has electronic fuel injection technology and a rear disc brake. The company also plans to introduce an entry level variant of the StaR Sport.

TVS also plans to launch the Scooty Teenz Electric which would have a maximum range of 50 km per charge. This scooty will be initially launched in Gujarat. The company will also launching three-wheeler variants in the fourth quarter.

Alembic PAT up 67%

Alembic Limited has reported a net profit of Rs 42 crore for the quarter ended December 31, 2007, a growth of 67% as against Rs 25 crore posted in the same period of last fiscal. Sales for the third quarter stood at Rs 265 crore, a growth of 39% as compared to Rs 191 crore in the third quarter of the corresponding previous year.

Novartis PAT slightly up

Pharmaceutical company Novartis India on Friday posted a net profit of Rs 22.47 crore for the quarter ended December 31, 2007 as compared to Rs 21.07 crore for the quarter ended December 31, 2006. Total income has decreased from Rs 158.51 crore for the quarter ended December 31, 2006 to Rs 152.59 crore.

Zee News net dips

News broadcaster Zee News Ltd, a unit of Zee Entertainment Enterprises Ltd on Friday posted a fall in net profit at Rs 14.24 crore for the quarter ended December 31, 2007 as compared to Rs 12.77 crore for the quarter ended December 31, 2006. The company's operating revenue increased from Rs 70.70 crore for the quarter ended December 31, 2006 to Rs 98.31 crore.

Bharat Elect net down

Public sector major Bharat Electronics on Friday clocked a 23.76% decline in net profit at Rs 112.97 crore for the quarter ended December 31, 2007 as against Rs 148.18 crore in the corresponding period of 2006. The total income of the firm also decreased to Rs 726.93 crore for Q3FY08 as compared to Rs 904.51 crore in Q3FY07, down 19.63%, the company informed the BSE.

Voltas profit rises

Air-conditioner maker Voltas Ltd reported a surge in October-December net profit on margin expansion in its projects division and improved earnings from unitary cooling products. Voltas posted a net profit of Rs 47.2 crore on a net sales growth of 17% to Rs 680 crore.

Bihar Caustics net up

Bihar Caustics and Chemicals Ltd on Friday announced that the company has reported a growth of 71% in its net profit to Rs 16.45 for the quarter ended December 31, 2007 against Rs 9.57 crore in the corresponding quarter last year. Net sales for the period stood at Rs 48.10 crore up 21% against Rs 39.70 crore last year.

GIPC posts 4% net dip

Gujarat Industries Power Company posted a 4.06% decline in net profit at Rs 37.12 crore for the quarter ended December 31, 2007, compared to Rs 38.69 crore in the corresponding period in 2006. Its total income increased 4.92% at Rs 248.59 crore for the quarter under review, against Rs 236.93 crore in the same period last year, the company informed the Bombay Stock Exchange.

Ruchi Soya sales up 12%

Edible oil and soya foods company, Ruchi Soya Industries, has clocked a 58.5% growth in Q3 FY 08 in its net profit at Rs 59.47 crore. Its net sales grew 12% at Rs 3,196.63 crore, a press release stated. For the nine-months ended December 31, 2007, sales grew 29.20% to Rs 7,519.19 crore while net profit for the same period increased to Rs 119.65 crore, up 59.30%.

Time Techno net up 95%

Time Technoplast Ltd, polymer products manufacturer, announced its consolidated Q3FY08 result with a jump of 95% in net Profit to Rs.21.41 crores, compared to Rs.10.97 crores during the quarter ended December 31, 2006. Net sales for the quarter stood at Rs.189.22 crores, a jump of 83% as against Rs.103.44 crores in same period last fiscal.

Goa Carbon net up

Goa Carbon Ltd announced that the company has reported a net profit of Rs 1.39 crore for the quarter ended December 31, 2007. The companys turnover stood at Rs 5.18 crores. For the nine months ended December 31, 2007, the total sales figure of the company stood at Rs 139.68 crore and it recorded a net profit of Rs 2.43 crore for the same.

BHEL net at Rs 772 crore

Power equipment supplier Bharat Heavy Electricals Ltd on Friday posted a 15.61% rise in net profit at Rs 771.9 crore for the third quarter ended December 31, against Rs 667.65 crore for the same period last year.

BHELs total income increased 15.55% for the quarter to Rs 5,229 crore from Rs 4,525.16 crore during the quarter ended December 31, 2006, the company said in a statement.

BEML profit grows 11%

BEML Ltd posted a 11.84% increase in net profit at Rs 59.24 crore for the quarter ended December 31, 2007, compared to Rs 52.97 crore for the corresponding quarter a year ago.

The total income of the company for the reviewed quarter rose 14.60% to Rs 640.76 crore, against Rs 559.11 crore in the year-ago period, the company informed the BSE.

DRL net at Rs 42.29 cr

Drug firm Dr Reddys Laboratories has reported a net profit of Rs 42.29 crore for the third quarter ended December 2007, compared to Rs 50.34 crore for the corresponding period last year. It has reported a total income of Rs 820.68 crore for the quarter under review, as against Rs 1,212.11 crore for the same period last year, as per Indian GAAP.

On the contrary, as per the US GAAP, the company has posted a net loss of Rs 84.7 crore for the third quarter under review, owing to amortisa-tion and price rebates offered in the Germany markets.

Dr Reddys vice-chairman and CEO GV Prasad said that the company has to offer price rebates as part of the reforms in Germany. Accordingly the Germany subsidiary Betapharm has reported 9% fall in its revenue, which has impacted the overall performance of the company.

It has amortised expenses to the tune of Rs 37.9 crore and written down the intangible assets worth Rs 236.1 crore, Prasad added. Dr Reddys managing director & chief operating office Satish Reddy said that the company will maintain its overall growth in revenue and profits in the core businesses in APIs and branded generics business.