Rural Electrification Corporation (REC) on Wednesday said its profit after tax (PAT) rose 24% to Rs 587 crore for the quarter ended June 30, 2010. The total income increased 28% to Rs 1,928 crore.
The power sector lender sanctioned loans worth Rs 22,882 crore during the latest quarter, registering a growth of 51% over the same period of the last year. Loan disbursements increased 28% to Rs 4,644 crore.
Orchid Q1 income at Rs 331 crore
Orchid Chemicals & Pharmaceuticals (Orchid) has reported a total income of Rs 330.93 crore for the quarter ended June 30, 2010, compared with Rs 308.83 crore during the corresponding first quarter of last fiscal. Earnings before interest and tax (EBIT) stood at Rs 51.52 crore compared with Rs 27.60 crore in the year-ago period. The profit after tax (PAT) for the period was Rs 21.61 crore after an exceptional item (loss) of Rs 4.70 crore compared. The company posted a net loss of Rs 29.76 crore after an exceptional item (loss) of Rs 3.64 crore in the corresponding period of the last fiscal.
Mastek net profit down at Rs 2.5 crore
Mastek registered a decline in its net profit at Rs 2.5 crore during the fourth quarter against Rs 15.3 crore. Its net sales stood at Rs 163.2 crore q-o-q in the June quarter compared to Rs 170.3 crore during the corresponding period last year. The company had clocked a revenue and PAT of Rs 964.9 crore and Rs 141.2 crore, respectively, in the last fiscal.
Omnitech PAT plunges 64% at Rs 14 crore
Omnitech InfoSolutions said its PAT for Q1 of FY ’11 declined 64% at Rs 13.62 crore compared to Rs 38 crore during the corresponding period last year. The company has posted a top line of Rs 74.56 crore, down 65%, from Rs 218.43 crore.
Telenor reports 7-fold jump in profit
Telenor Group on Wednesday posted a nearly seven-fold jump in profit at 9.49 billion Norwegian kroner for the second quarter ended June 30, driven by strong revenue growth in its Asian business. The company had reported a profit of 1.37 billion kroner in the corresponding period last year.