ITC net up 20.8%, Godrej Inds profit at Rs 58.89 cr

Kolkata, Mumbai, May 25 | Updated: May 26 2007, 05:30am hrs
ITC Ltd on Friday reported a 20.8% growth in its 2006-07 bottomline which touched Rs 2,700 crore, as compared with Rs 2,235 crore in 2005-06. Total income went up from Rs 10,076 crore for the year to March 31, 2006, to Rs 12,705 crore for the year to March 31, 2007.

The share of cigarette in the total income of the company went down from 64% in 2005-06 to 60.21% in 2006-07. Cigarette sales reported a growth of over 7% during the year. With effect from April, cigarettes have been brought under the ambit of value-added tax by the states at 12.5%, which could have played a part in its slow growth.

ITC's FMCG division, barring cigarettes, which includes garments, package foods and confectioneries, suffered a Rs 202 crore loss during the fiscal under review as against Rs 171.81 crore during 2005-06.

Godrej Ind net up

Godrej Industries on Friday said that the company's net profit for FY2006-07 stood at Rs 58.89 crore compared to Rs 49.15 crore the previous fiscal. Total income for the period stood at Rs 2,465.70 crore compared to Rs 2,106.17 crore in the previous fiscal. Net profit for the fourth quarter was Rs 16.66 crore compared to Rs 26.52 crore, while total income during the period stood at Rs 202.98 crore compared to Rs 193.05 crore in the corresponding quarter of the previous fiscal. Commenting on the results, Adi Godrej, chairman, Godrej Industries Ltd, said, "Godrej Industries has delivered consistent results for the financial year under review. While the chemicals business was affected by industry cyclicality, the finance and investment portfolio contributed strongly to improve the overall results."

SpiceJet net loss at Rs 70 cr

SpiceJet Ltd on Friday reported a net loss of Rs 70.7 crore for the period FY06-07 covering its performance of 10 months from June 1, 2006 to March 31, 2007. Total revenues for the period registered a growth of 121% to Rs 748 crore versus Rs 339 crore in the same period in the previous fiscal. On operating levels, the company reported an income of Rs 640 crore versus operating expenses of Rs 659 crore.

During the period, the SpiceJet doubled its average deployed fleet to 8.17 aircraft versus 4.08 aircraft for corresponding period previous year. The number of passengers flown increased by 95% to 2.61 million from 1.34 million in comparable previous period.