Indian Hotels Company Ltd, that runs the Taj Group of hotels, on Friday announced a net profit increase of 11.89% to Rs 61.27 crore for the quarter ended June 30, 2008 as compared to Rs 54.76 crore in the corresponding quarter last fiscal. Total income stood at Rs 398 crore from Rs 349.86 crore showing a growth of 14%. Meanwhile shares of Indian Hotels closed at Rs 84.90, up 1.37% on the Bombay Stock Exchange on Friday. Raymond Bickson, MD, said that the recent economic downturn in India and abroad is a matter of concern for the hospitality sector. But IHCL has been able to improve topline and profitablity in what is normally an “off-seaon”.

HCC Q1 PAT down at Rs 31 crore

HCC (Hindustan Construction Company) registered a profit after tax at Rs 31 crore for the first quarter of this fiscal as against Rs 34 crore in the same quarter of the previous fiscal. During the quarter, a provision of Rs 50.6 crore on account of foreign exchange losses on foreign currency loans including FCCB was made, the company said in a media release. The profit before tax stood at Rs 39 crore as against Rs 56 crore in the previous year same quarter owing to decline in other income (Rs 13 crore this quarter as against Rs 32 crore last year). The company said its turnover grew by 22.5% to Rs 895 crore as against Rs 731 crore in the corresponding period last year. The operating margin (Ebidta) grew by 16% to Rs 91 crore as against Rs 79 crore in the corresponding period previous year.

Ceat net loss at Rs 10.66 cr

On the back of high raw material costs, tyremaker Ceat Ltd has posted a net loss of Rs 10.66 crore for the quarter ended June 30 as compared to profit of Rs 30.35 crore in the corresponding quarter last fiscal. Sales for the period grew 22.5% to Rs 657.36 crore from Rs 536.44 crore. It may be noted that inflation and high input costs have dented margins and resulted in a net loss despite an increase in sales for the company. This is CEAT’s first quarterly loss after four consecutive quarters of profits. Meanwhile shares of the company dipped 1.83% to last trade at Rs 75.20 on the Bombay Stock Exchange on Friday.

GDL posts 12% profit rise

Gateway Distriparks Limited (GDL), a container logistics company, has posted a net profit increase of 12% to Rs 20.9 crore for the quarter ended June 30, 2008, compared to 18.6 crore in the corresponding quarter in the previous fiscal. Sales for the quarter stood at Rs 96.2 crore compared to 48.3 crore, a growth of 99%. The board of directors of the company have approved the proposal to buy back the company’s shares upto an amount of Rs 64 crore which represents 10 % of the company’s paid-up capital and reserves through market-purchase at a maximum price of Rs 110.

i-flex Solutions profit up 23%

i-flex Solutions Ltd, a leading provider of IT solutions to the global financial services industry has announced that the company has posted a net profit of Rs 106 crore for the first quarter ended June 30, 2008 as compared to Rs 37 crore during the corresponding quarter previous year. The company also reported an increase 23% in its revenue to Rs 631.8 crore for the quarter ended June 30, 2008 as compared to Rs 513.3 crore during the corresponding quarter previous year.

Indiabulls Fin PAT up 29%

The consolidated total revenues of Indiabulls Financial Services Ltd (IFSL) have increased 74.4% to Rs 564.6 crore in Q1 of FY 09 from Rs 323.7 crore in Q1 of FY 08. Consolidated profit after tax (PAT) was up 28.8% to Rs 148.9 crore in Q1 of FY 09 from Rs 115.6 crore in Q1 of FY 08.

The figures given for the FY08 period excludes the results of Indiabulls Securities Ltd (ISL) to facilitate comparison, the company said in a release. Basic EPS has gone up 6.3% to Rs 5.61 in Q1 of FY09 from Rs 5.28 in Q1 of FY08. The company expects FY09 earnings will range from Rs 27.0 to Rs 30.0 per share.

JM Fin net down marginally

The volatility in the capital market has impacted the first quarter ended on June 30, 2008 (Q1FY09) the working of the JM Financial. The total income for the period though was recorded higher at Rs 129.82 crore compared to Rs 125.81 crore for the previous quarter ended June 30, 2007. The net profit before tax lower at Rs 32.11 crore compared to Rs 46.13 crore.

While the net profit after tax, minority interest and share of associates, lower at Rs 18.34 crore compared to Rs 19.15 crore.

The earnings per share on weighted average number of shares, for the quarter ended June 30, 2008 stood at Rs 6.11 (not annualised).

Emami Q1 PAT at Rs 11 crore

Emami Ltd has reported a profit after tax (PAT) of Rs 11 crore for the quarter to June 30, 2008, an increase of 13%, compared with the corresponding quarter of the previous fiscal. Turnover of the company touched Rs 123 crore for the quarter under review, a jump of 17% over the corresponding quarter of 2007-08. Profit before tax stood at 12.6 crore, up 14%. The pharmaceutical major’s earnings from international business grew by 42% to touch Rs 15 crore for the first quarter of 2008-09.

3i Infotech net up 44%

3i Infotech, a global provider of IT solutions has announced that the company has posted an increase of 44.1% in its net profit to Rs 58.10 crore for the first quarter ended June 30, 2008. The company has also reported a growth of 78.5% in its revenue to Rs 471.62 crore for the quarter ended June 30, 2008. The growth in revenue consisted of 32.9% of organic growth and 45.6% of inorganic growth on a year on year basis.

Ipca Labs net dips 32%

Ipca Laboratories’standalone net profit for the quarter ended June 2008 declined 32% to Rs 23.6 crore from Rs 34.7 crore in the same quarter last year. Total income for the quarter rose 18% to Rs 295.44 crore, compared with Rs 249 crore of the prior year period.

Suven Q1 PAT down 49%

Suven Life Science has reported a profit after tax of Rs 1.6 crore for th efirst quarter as compared to Rs 3.15 crore for the corresponding previous period, a decline of 49%. The revenue stood at Rs 32.29 crore.