Sajjan Jindal-led JSW Energy on Tuesday posted a net profit increase of 1047% at Rs 273.03 crore for the March quarter of FY10 as against Rs 23.80 crore during the corresponding period of the previous financial year. The company has reported sales at Rs 784.49 crore as against Rs 474.05 crore, up 65%. Meanwhile, shares of the company closed the day at Rs 117.50, down 1.38% on the Bombay Stock Exchange on Tuesday.
For the year ended March, 2010, the company posted a consolidated net profit increase of 169% at Rs 745.49 crore, as compared to Rs 276.69 crore. Sales for the year stood at Rs 2,336.41 crore as against Rs 1,817.15 crore, up 29%. Meanwhile, the company has recommended a dividend of 7.5% or Rs 0.75 per share for the year ended March 31, 2010. In a filing to the BSE, the company said that the operating result for the quarter and FY10 are in respect of the company?s 2×130 mw thermal power plant and 2×300 mw thermal power plant, both located at Toranagallu, Karnataka, and 1×135 mw thermal power plant located at Barmer, Rajasthan. ?The figure for the corresponding period in the previous year was only for the 2×130 MW thermal power plant and hence not comparable,? stated the company in a statement. JSW Energy Ltd. is a group company of Jindal South West (JSW) group headed by Sajjan Jindal. The company is the first Independent Power Producer (IPP) to be set up in the state of Karnataka. The company has set up 2 units of 130 mw each and both units are generating power using Corex gas and coal. It supplies power to JSW Steel Ltd and to Power Trading Corporation.
PFC net at Rs 2,355 cr
Power Finance Corporation (PFC) has reported a jump of 19.5% in net profit for the year-ended March 31, 2010, to Rs 2,355 crore from Rs 1,970 crore. Total income rose 22.6% to Rs 8,074 crore compared with Rs 6,583 crore last fiscal. Net worth rose 17% to Rs 12,618 crore from Rs 10,790 crore. For the quarter ended March 31, 2010, however, the company?s net profit declined 40.4% to Rs 599 crore. Total income rose 15.6% to Rs 2,105 crore from Rs 1,820 crore in same quarter last year. Net profit in fourth quarter declined due to higher base effect. In the Jan-March 09 quarter, net profit was boosted by a tax reversal of Rs 483 crore.
GSK Q1 net up 12.5%
Drug firm GlaxoSmithKline (GSK) Pharmaceuticals on Tuesday reported a net profit of Rs 161.19 crore for the quarter ended March 31, 2010, an increase of 12.5%, compared with Rs 143.27 crore in the corresponding period last fiscal. Total sales rose 17.6% to Rs 552.12 crore from Rs 469.21 crore in the corresponding quarter last year. ?The sales growth of 18 per cent was broad-based across all therapeutic segments and, in particular, the vaccine range and the dermatological franchise recorded strong growth. The improvement in product mix has resulted in better gross margins,” GSK MD Hasit B Joshipura said.
Piramal net loss narrows
Piramal Life Sciences on Tuesday said its net loss narrowed to Rs 33.44 crore during the fourth quarter ended March 31, 2010. The company had a net loss of Rs 37.36 crore for the corresponding period last fiscal. Net sales increased to Rs 71 lakh for the fourth quarter ended March 31, while the same was Rs 52 lakh in the same period last fiscal, Piramal Life Sciences said. For the year ended March, 2010, the company posted a net loss of Rs 129.80 crore, while the same stood at Rs 110.85 crore in the last fiscal. Shares of Piramal Life Sciences were trading at Rs 117.85 on BSE, down 2.56%.
Chola DBS net down
Cholamandalam DBS Finance on Tuesday said its consolidated net profit declined 43% to Rs 39.55 crore for the quarter ended March 31, 2010, over the same period last year. Income from operations declined to Rs 228.48 crore from Rs 236.53 crore, Cholamandalam DBS Finance said in a filing to the Bombay Stock Exchange. The board has proposed a dividend of Rs 1 per share to the shareholders of the company for the year-ended March 31, 2010.
Aventis Pharma net dips
Aventis Pharma on Tuesday said its net profit declined 10.86% to Rs 36.1 crore for the quarter ended March 31, over the same period corresponding fiscal. Total income rose to Rs 268.3 crore compared with Rs 40.5 crore during the same period last fiscal, Aventis Pharma said. The company has recommended a final dividend of Rs 16.50 per share for the year-ended December 31, 2009.
Welspun-Gujarat net up
Welspun-Gujarat Stahl Rohren said on Tuesday its consolidated net profit jumped nearly three-fold to Rs 610 crore for the fiscal ended March 31, 2010, over the same period last year.
The company had a profit of Rs 213 crore in the last fiscal year. Total income rose to Rs 7,368.8 crore for the year-ended March 31, from Rs 5,758 crore in the same period previous fiscal. The board has proposed a dividend of Rs 2 per share on the face value of Rs 5 per share to the shareholders.
Shree Renuka profit up
Shree Renuka Sugars on Tuesday reported nearly seven-fold jump in consolidated profit to Rs 224.2 crore for the second quarter ended March 2010. The company had a consolidated profit (after prior period adjustments) of Rs 33.2 crore during the March quarter, a year earlier. The company’s full financial year ends in September.The consolidated financial results include the unaudited results of all subsidiaries, (including the figures of Brazil-based Vale Do Ivai SA Acucar E Alcool (VDI), which has become a subsidiary from March 19, 2010).
Raymond loss at Rs 52 cr
Raymond has posted a reduction in the consolidated net loss at Rs 51.92 crore for the year ended March 31, 2010 , as against a net loss of Rs 231.32 crore in the same period last fiscal. This was on the back of a cutback on costs. For instance, the company reduced its ad spends from Rs 119.24 crore in financial year 2008-09 to Rs 97.67 crore in FY2009-10.
Taj Gvk Q4 net up 54%
Taj Gvk Hotels & Resorts on Tuesday said profit from ordinary activities after tax rose 54.05% to Rs 12.17 crore for the fourth quarter ended March 31, over the corrosponding period last fiscal. Net sales rose to Rs 63.34 crore compared with Rs 56.94 crore during the same period previous fiscal, Taj Gvk Hotels said. The company has recommended a dividend of Rs 2 per share for the financial year 2009-10.
Greaves Cotton Q3 net up
Engineering firm Greaves Cotton on Tuesday said its net profit jumped two-fold to Rs 33.61 crore for the third quarter ended March 31, 2010, over the same period last year. Total income rose to Rs 358.01 crore from Rs 240.56 crore. The board of directors has proposed a third interim dividend of Rs 2 per share for the financial year 2009-10.
Sobha Developers net up
Real estate firm Sobha Developers on Tuesday said its net profit (from ordinary activities after tax) rose 24.61% to Rs 136.7 crore for the year ended March 31, compared to the corresponding fiscal. Net sales of the company rose to Rs 1,107.2 crore for the year -ended March, 2010, compared to Rs 967.9 crore in the last fiscal, Sobha Developers said.
