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Birla Corporation Ltd net dips 48.18% to Rs 41.58 crore
MP Birla Group flagship Birla Corporation on Wednesday announced 48.18% year-on-year decline in its net profit for the quarter ended September to Rs 41.58 crore from R80.24 crore for the same period previous year. The companys net sales during the Q2 this fiscal, however, increased by 13.27% y-o-y at R710.71 crore, against Rs 624.44 crore for the same period last fiscal.
Trent Ltd net jumps 73.52% at Rs 15.6 cr on better sales
Tata Group firm Trent reported 73.52% jump in standalone net profit at Rs 15.6 crore for the second quarter ended September on account of better sales. The company had reported net profit of Rs 8.99 crore in the July-September quarter of last fiscal, 2012-13. Trents net sales increased by 24.88% to Rs 267.1 crore in the quarter under review, against Rs 213.88 crore in the corresponding period last year, the company said in a BSE filing.
Godrej Properties Ltd net profit rises 5% to Rs 34 crore
Godrej Properties posted a mere 5% rise in consolidated net profit to Rs 34 crore for the second quarter ended September, against Rs 32.5 crore in the corresponding quarter last year. While the net profit for the period was up 24% to Rs 61 crore, compared with last year, minority interest of R26 crore lowered the companys profitability. The total income for Q2 was up 37% to R320 crore, against Rs 233 crore in the same period last year, aided by other income of Rs 13 crore on account of interest earned on surplus funds and some cash received on account of the rights issue.
Oberoi Realty Q2 net halves to Rs 64.14 crore
Real estate developer Oberoi Realtys consolidated net profit almost halved to Rs64.14 crore for the second quarter ended September, against Rs 124.36 crore in the same period last year, due to sluggishness in sales volumes for under construction projects in Mumbai. The companys consolidated revenue for the quarter fell by a sharp 29% to Rs 201.67 crore, against Rs 282.70 crore last year.
Puravankara Projects net down 8% to Rs 46 crore
Puravankara Projects consolidated net profit dipped by 8% to Rs 46 crore during the second quarter ended September, against Rs 50 crore in the year-ago period. The company recorded a nearly 10% increase
in consolidated revenue to Rs 301 crore against Rs 274 crore last year.
IMFA H1 net dips 50%, revenue increases
The net profit of Indian Metals & Ferro Alloys, Indias leading fully integrated producer of value-added ferro chrome, has declined by about 50% to Rs 24.19 crore during the first half of the fiscal 2013-14 ended September from Rs 50.22 crore posted during the same period last year. The company,however, reported growth in revenue earnings during the period. The revenue earnings increased by 14% to Rs 322.67 crore from Rs 284.13 crore earned during the same period last year.
Vastushodh Projects gets Rs 40 crore in PE funding
Pune-based Vastushodh Projects has announced it has received funding of Rs 40 crore from Mumbai-based PE firm Avenue Venture Partners Real Estate Fund. The first tranche of the total investment, that is about Rs 20 crore, will be invested in AnandGram project that will come up on a 22 acre plot at Pune-Solapur highway, Sachin Kulkarni, MD, Vastoshodh Projects said.
Tata Comm subsidiary to tie up with insurers
Tata Communications Payment Solutions (TCPSL), a wholly-owned subsidiary of Tata Communications, is planning to tie up with insurance companies in a move to launch value-added services such as selling financial products through its white- label ATM network by this December. The company, which is a payment technology arm, is aiming to rollout at least 1,500 white-label ATMs by December this year.