Reliance Capital net profit up 43%, to pay 55% dividend

Written by Bureaus & Agencies | Mumbai, New Delhi, Chennai, Apr 29 | Updated: Apr 30 2008, 05:59am hrs
Reliance Capital Ltd (RCL) posted an increase of 43% in its net profit at Rs 1,009 crore against Rs 703 crore for the year ended March 31, 2008. During the same period, total income gained 128% at Rs 4,919 crore against Rs 2,158 crores in the corresponding period q year ago. The RCL earning per share (EPS) stood at Rs. 41.08 against Rs 30.73 in the corresponding period, an increase of 34%, the company said in a release.

Commenting on the results, Anil D Ambani, chairman, Reliance Capital Limited, said, "We are delighted that RCL crossed the $1 billion mark in revenues and Rs 1,000 crore mark in net profits, during the year. Our leadership position across different businesses, provides us an unprecedented platform for substantial growth in the future."

At the meeting held on Tuesday, the RCL board also approved payment of dividend of Rs 5.50 per share (55%) on a capital base of Rs 246.16 crore. The company had paid 35% dividend last year.

For the quarter ended March 31, 2008, the total income on consolidated basis increased by 97% to Rs 1,635 crore from Rs 829 crore in the corresponding period a year ago. The net profit during the same period increased by 19% to Rs 366 crore from Rs 306 crore. Total Assets of the company stood at Rs 16,371 crore ($ 4.1 billion), an increase of 142% over the previous year, the release said.

Sesa Goa Q4 net up at Rs 811 cr

Mining firm Sesa Goa on Tuesday announced a consolidated net profit of Rs 811.58 crore for the quarter ended March 31, 2008, an over three-fold growth over the corresponding period a year-ago.

The group had a net profit of Rs 263.34 crore in the fourth quarter of the fiscal ended March 31, 2007, Sesa Goa said in a filing to the Bombay Stock Exchange. The consolidated total income rose to Rs 1,732.34 crore in the latest quarter, from Rs 832.16 crore in the year-ago period.

The firm posted a stand-alone net profit of Rs 798.3 crore for the fourth quarter of the financial year ended March 31, an over three-fold growth over the corresponding period a year-ago.

The firm had a net profit of Rs 252.33 crore in the fourth quarter last financial year. The total income rose to Rs 1,669.97 crore in the latest quarter, from Rs 772.38 crore in the year-ago period. The board of the directors has approved the issue of a bonus share, of Re 1 each, for every equity share held in the company, the filing said.

Cairn India net jumps 3-fold

Cairn India, the Indian subsidiary of Scottish firm Cairn Energy Plc, on Tuesday announced a consolidated net profit of Rs 116.43 crore for the quarter ended March 31, registering over three fold growth from the corresponding period a year ago. The company had a consolidated net profit of Rs 37.56 crore for the quarter ended March 31, 2007, Cairn India said in a filing to the Bombay Stock Exchange. The consolidated total income increased to Rs 337.59 crore for the quarter ended March 31, from Rs 272.55 crore in the year-ago period.

UTV annual net up Rs 76.8 crore

UTV, one of India's biggest media conglomerate has recorded a net profit of Rs 76.8 crore for the year that ended on March 31 2008. The operating revenue for the entire year was Rs 437.5 crore. The company recorded a net profit of Rs 27.1 crore in Q4. The operating revenue was Rs 187 crore.

Aban posts Rs 158 cr net

Aban Offshore Ltd has posted a net profit of Rs 157.90 crore for the year ended March 31, 2008 as compared to Rs 99.59 crore in the previous year.Total income has increased from Rs 564.59 crore to Rs 739.64 crore during the last fiscal, the company informed the stock exchanges on Tuesday.

Chola DBS Fin PAT shoots up

Cholamandalam DBS Finance Ltd, a joint venture between Rs 8,500-crore Murugappa Group and DBS Bank Singapore, has reported a sharp growth in its profit after tax of Rs 59.37 crore for the year ended March 31, 2008 as compared to Rs 31.02 crore during the last year. The total income was higher at Rs 891.73 crore as compared to Rs 409.14 crore in the previous year. The consolidated PAT was up 73% at Rs 47.33 crore as compared to Rs 27.39 crore for the previous year. The company's managed asset base increased to Rs 8,077 crore from Rs 4,485 crore of the previous year backed by a strong retail disbursement growth of 94%.

Bhushan Steel profit up 24%

Bhushan Steel Ltd expects revenue to grow at 20% in 2008/09 on higher volumes due to capacity expansion a year ago, chief financial officer Nittin Johari said on Tuesday. The company, which manufactures cold-rolled steel strips, sees profit growing around 20-25%, but said its export realisations will be impacted after the finance minister slapped export duties on some steel products earlier in the day. On Tuesday, Bhushan posted a 24% rise in its quarterly profit to Rs 1.35 billion on net sales of Rs 12.15 billion.

Castrol Indias net profit up

Castrol India posted a rise in the net profit for the quarter ended March 2008. During the quarter, the profit of the company rose 75.34% to Rs 72.80 crore from Rs 41.52 crore in the same quarter previous year. The company reported earnings of Rs 5.89 a share during the quarter, registering 75.30% growth over previous year period.

Net sales for the quarter rose 11.49% to Rs 492.9 crore, while total income for the quarter rose 12.33% to Rs 504.80 crore, when compared with the prior year period. During the quarter, the company disclosed a rise in operating margin by 851.26 basis points to 23.01% on lower production cost.

Nestle net profit up 47% for Q1

Packaged food maker Nestle India on Tuesday reported a net profit of Rs 160.1 crore for its first quarter ended March 31, a 47.7% increase over the corresponding quarter of the previous fiscal.

The company recorded a net profit of Rs 108.4 crore in the corresponding quarter of the previous fiscal, it said in a statement. The net sales of the company rose to Rs 1090 crore for the period, a 26.4% increase from Rs 863 crore in the corresponding period of the previous fiscal. Shares of the company closed at Rs 1,625 on the BSE, up 0.6% from the previous close.

IFCI Q4 net loss at Rs 42 crore

Industrial Finance Corporation of India (IFCI) Ltd on Tuesday announced a stand-alone net loss of Rs 42.52 crore for the fourth quarter ended March 31, as against a net profit of Rs 668.43 crore in the corresponding period a year-ago.

The total income dropped to Rs 451.35 crore for the latest quarter, from Rs 1094.09 crore in the year-ago period, IFCI said in a filing to the Bombay Stock Exchange.

For the financial year ended March 31, IFCI announced a profit after tax of Rs 1,022.40 crore, a 13.77% growth over the year-ago period. The financial institution had a net profit of Rs 898.64 crore in the financial year ended March 31, 2007. The consolidated total income rose to Rs 2,116.13 crore for the financial year ended March 31, from Rs 2,050.34 crore in the previous fiscal. IFCI announced a stand-alone profit after tax of Rs 1,020.57 crore for the year ended March 31, a 13.65% growth over the year-ago period.

Arshiya profit up

Arshiya International posted a standalone net profit for the quarter ended March 2008. During the quarter, the profit of the company rose 4.54 times to Rs 6.975 crore from Rs 1.537 crore in the same quarter previous year. The company posted earnings of Rs 1.26 a share during the quarter, registering 28.41% decline over previous year period.

Net sales for the quarter jumped 72.92% to Rs 63.499 crore, while total income for the quarter jumped 85.13% to Rs 68.553 crore compared to last fiscal.

Areva T&D PAT up 43%

Areva T&D India, which is engaged in India's transmission and distribution area, has posted a 23% sales growth at Rs 503 crore and 43% jump in net profit at Rs 54 crore for quarter ending March. The net profit for the same period in 2007 was Rs 38 crore. The growth of the net profit is the result of volume increase and all round business process efficiency improvements. The current period also includes one time profit of Rs 8 crore on sale of property.

The company is looking for business opportunities in the emerging transmission and industry markets. The company also plans to consolidate its position in the emerging distribution utility market. Rathin Basu, country president of the firm said, "We will pursue our journey of profitable growth and partner with the leading utilities and engineering procurement construction companies for the country's extra high voltage projects and emerging ultra mega power projects."

Ceat net up 279% in FY08

Ceat Limited has reported a growth of 279% in net profit to Rs 148.6 crore for the financial year ended March 31, 2008 as compared to Rs 39.25 crore for the previous year.

Total income of the company grew to Rs 2,353.04 crore for the financial year ended March 31, 2008 as compared to Rs 2,159.22 crore during the same period last year.