Germanys Siemens AGs arm Siemens India on Thursday posted over 50% decline in its net profit for the quarter ended June 30, 2010 at Rs 156.12 crore. The company had reported a net profit of Rs 337.01 crore in the corresponding quarter of the previous financial year, it said in a statement to the BSE. It added that it had received an exceptional income of Rs 210.61 crore in the same period last fiscal. However, net sales of the company rose to Rs 2,234.94 crore from Rs 1,909.60 crore in the same period last year. The companys profit from the power transmission business reduced to Rs 112.58 crore by the end of the first quarter of the current fiscal from Rs 129.72 crore in the same period previous financial year. The companys revenue in the same segment increased to Rs 819.60 crore from Rs 587.86 crore in the quarter ended June 30, 2009, it said.
Apollo net profit sees marginal rise
Tyre maker Apollo Tyres has registered a net profit of Rs 74.20 crore for the quarter ended June 30 against a net profit of Rs 73.82 crore in the corresponding period last year. Consolidated revenue of the domestic and international operations for Q1 of 2010-11 grew 11% to Rs 1,821 crore from the previous years Rs 1635 crore, the company said after the 37th Annual General Meeting held here on Thursday. The shareholders also approved the highest ever-annual dividend payout of 75% per share in the history of the company, for the year ended March 31, 2010, the company said.
Lanco Infratech bags Mahagenco contract
Infrastructure firm Lanco Infratech on Thursday said it has bagged a contract from Maharashtra State Power Generation Company (Mahagenco) for supply of equipment for the companys power plant at Nagpur in Maharashtra. Lanco Infratech has bagged a contract from the power company for balance of plant (BOP) package for three new units of 660 MW each being set up for Mahagencos Koradi Thermal power plant near Nagpur, an official statement said.
Omaxe net jumps 39% to Rs 21.72 cr
Real estate developer Omaxe on Thursday reported a 38.70% jump in its net profit to Rs 21.72 crore for the quarter ended June 30. The company had reported a net profit of Rs 15.66 crore in the corresponding period of the last fiscal, Omaxe said in a statement. The net sales during the first quarter increased by over two-fold to Rs 252.93 crore, compared to Rs 118.91 crore in the year-ago period, it added. I am pleased to inform that all our new launches have received significant response from the market and the result of the same shall be visible in our future profits, Omaxe CMD Rohtas Goel said.
Bata clocks 40% growth in profit
Indias largest footwear maker Bata posted a healthy 40% rise in its net profit during the quarter ended June 30, at Rs 25.90 crore, up from the Rs 18.34 crore in the corresponding period last year. Net sales of the company grew 13.4% to end at Rs 350 crore, as against Rs 308.62 crore clocked in the April-June quarter in 2009. Bata Indias managing director Marcelo Villagran said profitability of the company has gone up on the back of improved sales and margins from the shoe line.
Berger Paints PAT at Rs 37 crore
Berger Paints on Thursday posted a 30% increase in its profit after tax to Rs 37.02 crore for the quarter ended June 30, 2010, over the same period last fiscal. The Kolkata-based paint company had a PAT of Rs 28.38 crore in the corresponding quarter last fiscal, Berger Paints said.
SKS issue subscribed 77% on second day
SKS Microfinances Rs 1,654-cr public issue the first public float by any microfinance firm in Asia has received robust demand from institutional buyers and got subscribed 77% on the second day on Thursday. The issue got total bids for 1.05 crore shares against 1.37 crore equities on offer for the public, as per the latest data available with the NSE. By the end of the second day, the issue saw demand for over 1.44 times in the portion reserved for qualified institutional buyers, the NSE data showed. In the HNI category, the issue got demand for 5% and in retail portion for 7%.