Sony Corporation reported a smaller loss than the company forecast because of bigger-than-expected cost reductions at the games and computer divisions, as well as gains from stock holdings. The net loss was 41 billion yen ($441 million) in the year ended March 31, or 41% narrower than the 70 billion yen the company projected three months ago, Tokyo-based Sony said in a statement today. Sales were 7.21 trillion yen, or 1.2% lower than forecast, it said. The company raised its earnings forecast for the third time in the past year after the maker of Bravia televisions and Cyber-shot cameras eliminated 20,000 jobs and shut factories to weather the global recession. Chief Executive Officer Howard Stringer is counting on a recovery in global demand for electronics to revive revenue growth this year.
Radico PAT jumps 20 fold
Delhi-based liquor manufacturer Radico Khaitan has reported a profit after tax of Rs 9.59 crore, 20 times more than the Rs 43 lakh recorded in the corresponding period last year. During the fourth quarter, total income rose to Rs 297.72 crore compared with Rs 238.17 crore in the previous fiscal.
Bharat Bijlee net up 22%
Bharat Bijlee reported a net profit of Rs 17.25 crore for its fourth quarter ended March 31, 2010, an increase of 22.6% over the corresponding period last year. Net sales rose 20.27% to Rs 655.15 crore for fiscal 2010 on an y-o-y basis. The company produced and delivered over 12,000 MVA of transformers for fiscal 2010.
