Tech Mahindra on Tuesday said its profit after tax for the second quarter ending September 30, 2009, was at Rs 169 crore, a decline of 44% as compared to Rs 302.8 crore in the same quarter last year. Revenues for the quarter fell 1.9% to Rs 11,418 crore from Rs 11,648 crore in the same quarter last year.

For the second quarter, the firm had a write-back of Rs 67.3 crore. Sequentially (compared to the quarter ended June 30, 2009), its net profit was up 20% from Rs 140.9 crore and revenues grew 2.5 % from Rs 1,113 crore. The company has a debt of Rs 2,179 crore as of September 30, 2009. During the quarter, it refinanced Rs 1,150 crore debt, reducing the effective interest rate on debt portfolio to 8.7% per annum. It derived 28.4%, 60.9% and 10.7% revenues from the US, Europe and other countries respectively. Tech Mahindra?s shares closed at Rs 941.40, up 0.37% on the BSE and at Rs 941.60, up 0.09%, on the NSE on Tuesday. To fund the Satyam deal worth Rs 2,889 crore, Tech Mahindra had used its internal accruals of Rs 700 crore and raised Rs 875 crore by issue of debt.

Sesa Goa profit at Rs 166 cr

Sesa Goa Ltd, a part of London listed Vedanta Resources Plc, on Tuesday reported a fall of 50.55% in its consolidated net profit to Rs 166.46 crore for the second quarter ended September 30, 2009, against Rs 336.62 crore in the corresponding quarter of the previous year. Consolidated net sales during the quarter fell 38% to 538.72 crore as compared to Rs 875.67 crore in Q2 FY08. For the half year, Sesa Goa reported a net profit of Rs 588.75 crore, a dip of 39.28% against the same period last year. Whereas, net sales of the company during the period was also down by 28% to Rs 1,550.24 crore, the company informed.

Apollo Tyres net at Rs 129.2 cr

Apollo Tyres on Tuesday said consolidated net profit stood at Rs 129.2 crore for the quarter ended September 30, 2009. The company had reported a net profit of Rs 15.1 crore in the same period last fiscal. Pursuant to the acquisition of Dutch tyre manufacturer Vredestein Banden BV on May 15, the previous period figures are not comparable.

Sterlite Tech net jumps

IT firm Sterlite Technologies on Tuesday said its net profit jumped nearly nine-fold to Rs 54.67 crore for the second quarter ended September 30, 2009, compared to the same period last year. Net sales declined to Rs 465.83 crore in the latest quarter from Rs 665.56 crore in the same period last fiscal.

Rallis Q2 PAT up 10%

Tata Group firm Rallis India reported a 9.90% rise in net profit at Rs 45.71 crore for the quarter ended September 30. Net sales rose to Rs 316.64 crore in the latest quarter, against Rs 279.68 crore in the same period in the corresponding fiscal. Sales during the first half period grew by 6% to Rs 480 crore. The board of Rallis India has approved an interim dividend of Rs 8 per share.

Polaris Software net at Rs 35 cr

IT services and solutions provider Polaris Software Lab on Tuesday said its consolidated profit after tax rose 2.23% to Rs 35.19 crore for the quarter ended September 30, 2009. Income from software services, products and business process management declined to Rs 338.30 crore in the latest quarter, from Rs 351.14 crore in the same period last fiscal.

JK Paper net profit leaps

JK Paper said its net profit jumped over two-fold to Rs 23.42 crore for the second quarter ended September 30, 2009, compared to the same period last year. Net sales rose to Rs 285.35 crore in the quarter under review, against Rs 282.94 crore in the same period last fiscal.

Subex revenues

Telecom solutions provider Subex has recorded revenues of Rs 109.7 crore for the second quarter ended September 30, down 22.7% in the same quarter last year. Product revenue for the period stood at Rs 89.71 crore, contributing to 81.77% of overall revenue for the period.