Mahindra & Mahindra (M&M) reported a 77.58% increase in net profit for the quarter ended December 31, 2010, at Rs 734.68 crore, buoyed by robust demand and various cost-saving measures. The company had posted a net profit of Rs 413.7 crore in the corresponding quarter last fiscal. Total income during the third quarter of this fiscal (Q3FY11) grew 36.11% to Rs 6,121.09 crore from Rs 4,497.12 crore in the third quarter of last fiscal.
Patni net profit marginally down
Software services provider Patni Computer Systems said its net profit for the fourth quarter ended December 31, 2010, was down 6% to Rs 176.4 crore from Rs 187.8 crore in the same quarter last year. The drop in net profit was on the back of increased forex losses, at Rs 36.3 crore, compared to Rs 14.8 crore in the same quarter of the previous year. Revenues for the quarter were up 3.9% at Rs 820 crore as compared to Rs 789.6 crore year on year. For the year ended December 31, 2010, the firm reported a net profit of Rs 596.6 crore, up 7.4 % from Rs 555.7 crore last year.
BPCL profit declines 50.5% to Rs 187.38 cr
State-run Bharat Petroleum Corporation (BPCL) has said that the company has posted a net profit of Rs 187.38 crore in the third quarter ended December 31, 2010, compared to Rs 379.09 crore in the corresponding quarter of the previous financial year, a fall of over 50%. Income from operations stood at Rs 39,572.57 crore during the period under review compared to Rs 34,624.88 crore in the previous corresponding period. Shares of BPCL were down 2.45% on the BSE on Wednesday to close at Rs 584.20.
United Spirits net at Rs 129.96 crore
United Spirits on Wednesday said sustained sales have pushed net profit to Rs 129.96 crore for the third quarter ended December 31, 2010. The company had posted a net profit of Rs 96.85 crore for the corresponding quarter last fiscal, United Spirits said.