Mangalore Refinery & Petrochemicals Ltd, a subsidiary of Oil & Natural Gas Corp (ONGC), on Thursday reported a 50% drop in net profit at Rs 420 crore for the April-June quarter. MRPL earned $7.98 on processing every barrel of crude in the quarter, as compared to $18.36 per barrel gross refining margin in the corresponding quarter of the previous year, company managing director Uttam Kumar Basu told reporters. Net profit was down from Rs 845 crore in Q1 of 2008-09 fiscal to Rs 420 crore in April-June this year. Turnover dipped 40% to Rs 7,171 crore. Exports slipped 36% to Rs 1,822 crore from Rs 2,852 crore a year ago. The company realised $62.48 per barrel for the products it sold as against $130.60 a barrel in April-June a year ago.

Idea net up

Idea Cellular on Thursday reported a consolidated net profit of Rs 297.06 crore for the quarter ended June 30 against Rs 263.09 crore in the same quarter last fiscal. Total income rose to Rs 2,975.90 crore during the June quarter from Rs 2,178.07 crore in the same period in the last fiscal. The operating results of the quarter are not comparable to earlier quarters due to lowering of the termination charges by the telecom regulator. On a standalone basis, Idea Cellular reported a net profit of Rs 309.21 crore for the June quarter this fiscal, while it had a net profit of Rs 269.53 crore in the corresponding period last fiscal.

Apollo Tyres net up 95%

Apollo Tyres has reported a 95% rise in its net profit to Rs 94.7 crore from its India operations during the April-June quarter of 2009-10 fiscal from Rs 48.6 crore recorded in the year-ago period, a company press release said on Thursday. Operating profit stood at Rs194.8 crore during the quarter. The director board also approved a 45% dividend at the company’s 36th AGM.

Madras Cements net up

Following a better product mix, increased capacity, better productivity and cost reduction, Madras Cements Ltd has reported 21% growth in its net profit for the first quarter ended June 30, 2009 to Rs 138.42 crore as against Rs 113.97 crore recorded in the year-ago period. Net turnover, including other income, has increased to Rs 771.17 crore from Rs 616.36 crore of the corresponding period of the previous year, showing an increase of 25%, said a press release in Chennai on Thursday.

Marico Q1 net up 21%

FMCG player Marico on Thursday reported a 21% growth in its consolidated net profit for the first quarter ended June 30 to Rs 55.97 crore, over the corresponding period a year ago. The company had a net profit of Rs 46.29 crore during the June quarter last fiscal (2008-09), Marico said in a filing to the Bombay Stock Exchange (BSE). Consolidated total income rose to Rs 699.86 crore in the latest quarter of current fiscal from Rs 599.19 crore of the corresponding period last year. On standalone basis, Marico posted a net profit of Rs 61.18 crore during the April-June period in FY10, a 58% rise compared to Rs 38.69 crore of a year earlier.

Nippo profit up 28%

Battery maker Nippo Batteries has reported a net profit of Rs 4.78 crore for the first quarter ended June 30, a 28% rise over the corresponding period a year ago. The company had a net profit of Rs 3.72 crore during the June quarter last fiscal, Nippo Batteries said in a filing to the BSE. Total income rose to Rs 78.48 crore in the latest quarter of current financial year from Rs 70.01 crore during the same period a year back.

Zee News net at Rs 12 cr

Zee News on Thursday reported a net profit of Rs 11.91 crore for the quarter ending June 30, 2009 as compared to Rs 9.3 crore recorded in the corresponding quarter of the previous fiscal. The company?s revenue for the quarter increased to Rs 137.41 crore from Rs 112.74 crore. EBITDA stood at Rs 24.8 crore, an increase of 43.5% as compared to the corresponding period last year.

Bata net at Rs 18.35 cr

Bata India on Thursday reported a 13.25% rise in its net profit at Rs 18.35 crore in the second quarter of this year as against Rs 16.20 crore during the same period a year ago. The company?s net income for the quarter grew 7.99% to Rs 308.63 crore from Rs 285.28 crore during the same period of last year.