Indiabulls Financial Services on Thursday said its consolidated net profit for the September 2010 quarter stood at Rs 173 crore, up 64.6%, against a year ago. Net profit growth was on account of reduced cost of funds and steadily expanding loan book, mainly via mortgage assets, the company said. Consolidated income was up 53.8% from a year ago at Rs 541 crore. Income from operations was driven by higher interest income on the back of steady loan book growth. The company?s board has proposed interim dividend of Rs 5 per equity share for 2010-11 (April-March). Standalone income for the quarter increased 49.8% from a year ago to Rs 457 crore, while net profit rose 137.4% from a year ago to Rs 148 crore. Capital adequacy ratio during first six months (April-September) of current financial year declined to 21.81% from 44.07% in the year-ago period.
Sterlite Tech profit up 5.2% at Rs 57.55 crore
Sterlite Technologies on Thursday reported September 2010 quarter net profit of Rs 57.55 crore, up 5.2% from a year ago. Net sales for the quarter rose 9.3% from a year ago at Rs 509 crore. Ebitda for the quarter increased 2.1% from a year ago at Rs 94 crore. Total expenditure for the quarter stood at Rs 432 crore up 10.7% from a year ago. Raw material cost for the quarter was up 16.2% from a year ago at Rs 349 crore, while interest cost rose 44.6% on year at Rs 922 crore. Other income was up 44.6% at Rs 3.27 crore.
Novartis net sales soar to Rs 185 crore
Novartis India has said that for the quarter ended September 30, the company posted a net profit of Rs 40.56 crore compared to Rs 33.26 crore in the corresponding quarter of the previous year. Net sales for the period stood at Rs 184.9 crore compared to Rs 161.54 crore in the same period of the previous year.
Zensar Technologies profit at Rs 27.5 crore
Zensar Technologies on Thursday reported net profit of Rs 27.5 crore on a consolidated basis for the September 2010 quarter, down 27.4% from a year ago. Consolidated net sales rose 4.8% from a year ago to Rs 263 crore. Total expenditure was Rs 230 crore, up 9.4% from a year ago. Employee cost rose 10.2% year-on-year to Rs 176 crore. Revenue from global transformation services stood at Rs 189 crore, up 6.6%, while from enterprise application services it rose 0.8% to Rs 178 crore.
Info Edge Q2 net profit increases 21%
Info Edge (India) reported a profit of Rs 17.88 crore in second quarter, up 21.3% from a year ago. Net sales for the quarter were up 28.9% from a year ago at Rs 71.18 crore. Total expenditure for the quarter was up 20.3% from a year ago at Rs 51.21 crore. Tax expenses were up 20% from a year ago at Rs 8.64 crore.
Alstom Projects Q2 net profit down 24%
Alstom Projects India on Thursday reported net profit of Rs 37.04 crore for July-September quarter, down 24.3% from a year ago. The company?s net sales for the quarter fell 34.8% from previous year to Rs 313 crore. Total expenditure during the period was at Rs 265 crore, down 37.6% from a year ago. Revenue from power segment fell 37.2% to Rs 2.95 billion, while transport segment revenue was at Rs 180.2 million, down 22.4% from a year ago.
JM Financial net profit at Rs 57.51 crore
JM Financial?s September quarter net profit was Rs 57.51 crore on a consolidated basis, up 1% from a year ago, on increased momentum in business activities, the financial institution said Thursday. The consolidated total income during the period was Rs 233 crore, up 33% from a year ago.
REVL posts Rs 2.74 cr 2nd quarter profit
Rane Engine Valve Ltd (REVL) has reported a net profit for the second quarter ended September 30, 2010 at Rs 2.74 crore as compared to Rs 51 lakh during the same quarter previous year. The company registered an operating Income of Rs 70.82 crore. as against Rs 54.99 crore for the same quarter of the previous year.