Telecom services provider Mahanagar Telephone Nigam Ltd today said its net proft declined marginally by 1.38% to Rs 91.86 crore in the second quarter ended September 30, 2008.

The PSU firm had a net profit of Rs 93.15 crore in the September quarter of last fiscal, MTNL said in a filing to the Bombay Stock Exchange.

The total income rose to Rs 1,359.84 crore for the quarter under review, from Rs 1,332.85 crore in the corresponding period a year ago.

For the six-month ended September 30, 2008, MTNL reported a net profit of Rs 204.40 crore, a 5.79% growth over the yearago period. The firm had a net profit of Rs 193.22 crore in the first half of previous fiscal.

During the six months period, the company’s total income stood at Rs 2,371.16 crore, against Rs 2,463.13 crore in the year-ago period.

Birla Corpn net at Rs 59 cr

Birla Corporation Ltd, the flagship company of the MP Birla Group, has reported a net profit of Rs 59.70 crore for the quarter ended September 30, 2008, compared with a profit of Rs 103.13 crore in the corresponding quarter last fiscal.

Cash profit for the quarter under review was Rs 86.06 crore, as against Rs 154.40 crore, according to a release issued by the company.

The turnover of the company in the second quarter of the current fiscal stood at Rs 431.49 crore, compared with Rs 455.83 crore in the year-ago period. Earning per share was Rs 7.75.

For the first six months ebded September 30, 2008, the company reported a profit after tax of Rs 151.52 crore as against Rs 200.61 crore during the year ago period. The turnover for the period stood at Rs 890.52 crore, compared to Rs 935.78 crore in the first half of the previous financial year, the release said.

Operating margins during the quarter were affected by increase in input costs, coupled with lower realisation. Clinker MTNL, Birla production was less, owing to the planned shutdown for upgradation for 66 days at one of its plants in Satna.

Production at the company’s cement plant in Durgapur resumed during the quarter, according to the release.

Orchid Chem registers loss

Orchid Chemicals & Pharmaceuticals has reported a net loss of Rs 40.66 crore for the second quarter of this financial year.

The company had a net profit of Rs 63.27 crore in the second quarter of FY’08. Net sales rose to Rs 339.14 crore in the quarter under review from Rs 285.70 crore in the same period last year. For the six months ended September 30,2008, Orchid Chemicals registered a net loss of Rs 72.30 crore, while its net sales stood at Rs 621.69 crore.

Srei disbursals rise by 60%

Srei Infrastructure Finance Ltd, a non-banking financial institution, is aiming a growth of 35-40% in disbursement during the current fiscal. The Kolkatabased NBFC has reported a 60% growth in disbursement during the first half of 2008-09.

Srei?s disbursement for the half-year ended September 30, 2008, was Rs 4,656 crore, compared to Rs 2915.58 crore for the corresponding period last year, an increase of almost 60%.

Disbursement for the quarter ended September 30, 2008, was Rs 2,500 crore, as against Rs 1,500 crore in the year-ago period.

Net profit for the quarter ended September 30, 2008, dipped to Rs 26.18 crore as against Rs 33.18 crore for the corresponding period of the previous previous fiscal. Net profit for the half year ended September 30, 2008 was Rs 69.38 crore compared to Rs 56.50 crore reported in the corresponding period of 2007- 08, up 23%.

“Interest rates started to increase from August-September pushing up interest costs. Moreover, the business was divided between Srei Infrastructure and Srei Equipment Finance Pvt Ltd, a joint venture with BNP Paribas Lease group, this quarter,” said Sunil Kanoria, vice-chairman of Srei Infrastructure.

Operating profit of the company for the half year also increased to Rs 122.56 crore, up by almost 40%, from Rs 87.34 crore in the corresponding period of the previous fiscal.

Apollo Hosp PAT rises

Apollo Hospitals Enterprise Ltd recorded a profit after tax of Rs 30 crore for the quarter ended September 30, 2008.

This was an increase of 27.7% over the profit of Rs 23.5 crore for the corresponding period last fiscal. It has recorded a income of Rs 364.8 crore, an increase of 30% over the income of Rs 281 crore for the corresponding period last fiscal.

For the half year ended September 30, 2008, Apollo Hospitals recorded a turnover of Rs 694 crore as against Rs 530 crore, an increase of 30.8%. Profit after tax for the period was Rs 59 crore, an increase of 10.8% over the profit of Rs 53.5 crore.

Visa Steel net profit surges

Visa Steel, part of the Rs 4,000-crore Visa Group, has reported a net profit of Rs 20.10 crore for the July-September quarter of the current fiscal, an increase of 482% over Rs 3.45 crore in the corresponding period of 2007-08. Revenue grew 115% to Rs 331.14 crore.

“Visa Steel?s financial performance during the second quarter grew as a result of improved performance from the LAM coke and ferro chrome businesses.

However, performance in the third and fourth quarters may get adversely affected owing to the global financial crisis, sharp correction in commodity prices and a slowdown in demand,” managing director Vishal Agarwal said.

The company, on October 30,2008, announced its unaudited financial results following the board meeting held in New Delhi.

Visa Steel currently produces pig iron, LAM coke, ferro chrome and sponge iron, and is setting up a stainless steel plant at the Kalinga Nagar Industrial Complex in Orissa. The company generates power as well. The Visa Group has business interests in steel, power, international trading, shipping and logistics.

During the quarter under review, LAM coke production increased to 82,735 mt compared with 43,894 mt during the corresponding period of the previous fiscal. Ferro chrome production was 8,745 mt as against 186 mt produced in the year-ago period.

Hot metal production increased to 30,477 mt from 13,491 mt.

During the July-September period this fiscal, Visa Steel commissioned a 150,000 TPA sponge iron plant and a 25 mw plant. It will soon commission another sponge iron plant of the same capacity. The company will also set up another 25 mw plant.

Sun TV profit rises 35%

Sun TV Network Ltd has reported a 35% growth in its net profit for the second quarter ended September 30, 2008, at Rs 108.31 crore as compared to Rs 80.16 crore during the same quarter last fiscal. The total income during the quarter grew 30% to Rs 275.03 crore as against Rs 217.76 crore. With a subscriber base of over 2 million, Sun TV believes that DTH will be the main growth driver for thecompany in the years to come, the company informed the stock exchanges on Thursday.

Sundram Fast net dips Due to increase in cost of raw materials, manufacturing inputs and additional usage of captive power coupled with forex fluctuations, Sundram Fasteners Ltd has reported a sharp decline in net profit for the second quarter ended September 30, 2008 to Rs 9.17 crore as compared to Rs 20.46 crore. However, due to 40% growth in exports, the total income grew sharply to Rs 388.37 crore as against Rs 298.46 crore, the company said in a press release in Chennai on Thursday.

Amara Raja Batt net down

A povision for Rs 12.90 crore towards translation loss, arisen out of rupee depreciation against the dollar, has affected the profit margins of Amara Raja Batteries Ltd during the second quarter ended September 30, 2008. Net profit stood at Rs 18.80 crore as against Rs 20.60 crore in the corresponding quarter last fiscal.

Net revenues, however, grew 33% to Rs 339.90 crore as against Rs 256.20 crore, said a press release in Chennai on Thursday.

EID Parry Q2revenue up

The turnover of EID Parry (India) Ltd for the quarter ended September 30, 2008 increased to Rs 251.45 crore as against Rs 161.53 crore during the same quarter last year. Gross operating profit for the quarter was Rs 10.29 crore as against gross loss of Rs 20.83 crore for the corresponding period last fiscal.

After considering other income of Rs 44.91 crore and exceptional income of Rs 749.18 crore (from the sale of its stake in Parryware Roca), the profit before tax for the quarter was Rs 797.60 crore. The profit after tax for the quarter stood at Rs 611.89 crore, said a press release.