Vedanta Resources on Thursday said the group reported a growth of 28% in its net profit to $770.8 million for the year ended March 31, 2011, against $602.3 million in the previous financial year. The group?s revenues during the year stood at $11.4 billion, up 44.1% as compared to $7.9 billion in FY2010. The net profit rose due to a surge in prices across commodities and record output in some divisions such as its zinc, copper and aluminium operations.

The group?s earnings before interest, tax, depreciation and amortisation (Ebitda) was also higher by 55.4% y-o-y at $3,566.8 million, reflecting higher volumes, higher prices, and higher by-products credit, the company said. Ebitda margin was 31.2% compared with 29.0% in FY2010. Anil Agarwal, chairman of Vedanta Resources, said, ?We continue to benefit from a strong balance sheet with low net debt of $1.97 billion. We have cash and liquid investments of $7.8 billion. During the year, we generated strong free cash flows at $2.43 billion and invested $2.47 billion on expansion projects during the year.? Meanwhile, the board approved setting up of Chingola Refactory Ore (CRO) project at Konkola Copper Mines (KCM) with a capacity of 50 ktpa at a cost of $320 million to be completed by end of FY 2012-13.

?Our extensive investment in organic growth projects continues, driving strong Ebitda and cash flow growth. We announced two strategic acquisitions, expanding and diversifying both our geographic and commodity footprint,? said Agarwal. During the year, Vedanta acquired majority stake in Cairn India to develop its presence in the attractive oil and gas sector. ?Our proposed acquisition of Cairn India is fully funded with shareholder approvals granted and the open offer for shares of Cairn India has been completed. The transaction is currently awaiting approval from the government,? Agarwal said. Last August, Vedanta proposed to buy 51% to 60% of Cairn India for about $8.5 billion to $9.6 billion in cash but the deal has been delayed due to a lack of government and regulatory approvals in India. Vedanta acquired an 8.1% stake through Sesa Goa?s open offer to shareholders, which closed on April 30. It also bought a 10.4% stake from Malaysia’s Petroliam Nasional Berhad, or Petronas. Meanwhile, the mining giant said it continues to evaluate the possibility of publicly listing its Zambian Konkola Copper Mines and intends to pursue such listing during 2011. ?Looking forward, we anticipate continued growth in metal consumption led by India and China, with tight supply in specific markets – particularly for copper and zinc,? added Agarwal.

Genpact posts 28% rise in net profit

Buoyed by an increase in revenues from business process management services and acquisition of consulting firm Headstrong, the country?s largest business process outsourcing (BPO) company Genpact posted a 28% increase in net profit for the first quarter ended March 31, 2011, besides upping the FY 2011 revenue guidance. The company raised annual revenue growth outlook to 23-25% taking into account its acquisition of Headstrong Corporation last month. It stuck to growth guidance of 10-13% plus eight months of revenues from Headstrong. First quarter net profit stood at $36.1 million compared with $28.2 million in the year ago period. Genpact clocked revenue of $330.5 million in the quarter, up 14.7% from $288.2 million in the corresponding quarter a year ago.

Revenues from clients other than GE, which Genpact refers to as global client revenues, grew 23.6% over the first quarter of 2010. Revenues from global clients now represent approximately 65.9% of Genpact’s total revenues, with the remaining 34.1% of revenues coming from GE.

Cipla Q4 net down 22.33% to R214 cr

Cipla on Thursday said its net profit declined by 22.33% to R214 crore for the fourth quarter ended March 31, 2011, over the same period previous fiscal.

The company had posted a net profit of R275.53 crore in the same period previous fiscal, Cipla said in a filing to the Bombay Stock Exchange (BSE). Cipla?s net sales for the fourth quarter stood at R1,615.22 crore for the fourth quarter as against R1,317. 49 crore for the corresponding period last fiscal. The company?s net profit for the year ended March 31, 2011 stood at R967.12 crore, compared to R1,081.49 crore in the last fiscal.

Eveready profit plunges 96% to R3.86 crore

Cost pressure and degrowth in certain segments of products led to a 96% drop in the net profit of Eveready Industries India to R3.86 crore in the Q4 period ended March 2011, over corresponding period last year. The company on Thursday reported a net sales of R204.07 crore during the quarter as compared to R227.40 crore in the corresponding period in 2009-10. For the entire fiscal 2010-11, net profit was down to R39.24 crore as compared to R142.21 crore in the previous year.

Mirc Electronics profit rises to R9.71 crore

Mirc Electronics has seen a net profit rise of 87.09% to R9.71 crore in the quarter ended March 31, 2011, compared to R5.19 crore during the previous quarter ended March 2010. Sales went up 45.98% to R574.31 crore in the quarter against R393.41 crore during the previous quarter ended March 2010.

Jamna Auto profit rises to R12.71 crore

Jamna Auto Industries consolidated net profit has risen to R12.48 crore for the fourth quarter ended March 31, 2011.