Companies Archives - Page 10 of 31

Mundra Port & SEZ’s profit up 40%, stock down by 0.6%

February 8, 2011August 20, 2014Editor

Mundra Port & Special Economic Zone had a good quarter in December 2010. The company owns and manages a port and related infrastructure in Mundra, Gujarat, including a multi-product special economic zone. In end-December, it commissioned a 60 million tonne coal receiving terminal, which will contribute to revenues in forthcoming quarters. Some of its significant subsidiaries are Adani Logistics Ltd and Adani Petronet (Dahej) Port Pvt Ltd, whose results do not reflect here, as it has reported standalone results for the quarter.

Eicher Motors CV sales on a roll

February 6, 2011August 20, 2014Editor

Eicher Motors Ltd, maker of commercial vehicles and two-wheelers, reported a much better operating performance in the December quarter.

The company’s sales rose by 41% to Rs 1,235 crore, over the same period last year, on the back of higher vehicle sales and price hikes. The company had hiked prices of commercial vehicles in the September quarter by about 2-4% to compensate for higher raw material prices. On a sequential basis, sales rose by 13%.

Dr Reddy’s gets to launch Allegra D-24, stock up 2.7%

January 31, 2011December 10, 2014Editor

Dr Reddy’s Laboratories can now launch the generic version of Allegra D-24, an extended release version of blockbuster drug Allegra. It won a key case in the US courts which will allow it to go ahead with a launch, with the possibility of a compensation being awarded by the court, but with the risk of an appeal, which could see the matter well drag on further.

Jain Irrigation net profit up 25%, to issue bonus DVR shares

January 28, 2011August 20, 2014Editor

Jain Irrigation Systems reported good growth and stable margins in the quarter ended December 2010.

Its sales rose by 15% to Rs 736 crore, over the September quarter or on a sequential basis. Its net profit too rose by 15% to 71 crore. Compared to the same period a year ago, its net profit rose by 25%.

Balaji Telefilms cuts costs; turns loss to profit

January 28, 2011August 20, 2014Editor

Media and entertainment company, Balaji Telefilms, turned the corner in the December 2010 quarter, compared to the September quarter or sequential basis. It earned a net profit of Rs 1.2 crore, compared to a loss of Rs 6.4 crore.
This is despite sales rising by a relatively low 3%. Compared to the December 2009 quarter, its sales growth is flat, but net profit has fallen by 33%.

R Systems acquires Computaris, adds 23% to sales

January 27, 2011August 20, 2014Editor

R Systems International, a software company with revenues of Rs 320 crore, acquired Computaris International, a UK-based telecom software services company. It will pay £9 million or about Rs 70 crore to buy the company, with about half the sum being paid upfront and the remaining being paid over a period of two years, tied in to performance. The company’s share price was up by about 6% at the time of posting.

Adani ties up Indonesian coal supply with Rs 7700 crore investment

January 27, 2011August 20, 2014Editor

Gujarat-based infrastructure company Adani Enterprises announced the contours of its investment into Indonesia, crystallising a preliminary agreement entered into in August 2010. It will invest about $1.65 billion or about Rs 7,700 crore, over a period of 4 years, to build a 250km railway line and port infrastructure to handle about 60 million tonnes of coal. The announcement is part of the Indonesian President, Susilo Bambang Yudhoyno, visit to India, which includes signing of a number of business deals to further the nation’s economic growth.

Reliance Mediaworks redeems Rs 130 crore FCCBs

January 26, 2011August 20, 2014Editor

Reliance Mediaworks, an entertainment and media company, announced the redemption of about €21 million or Rs 130 crore worth of foreign currency convertible bonds. It said that of the total FCCBs of €84 million issued in 2006, a total of about €63 million were converted into equity shares. The remaining debentures were redeemed on January 25, at a premium of 122%, that is it would have repaid a sum of about Rs 160 crore these debenture holders.

L&T and Kobe Steel in Rs 60 crore JV for tyre equipment

January 26, 2011August 20, 2014Editor

Larsen & Toubro and Kobe Steel will make rubber processing machinery in India. The two companies will collectively invest about Rs 60 crore in L&T Kobelco Machinery Pvt. Ltd, with L&T owning a 51% stake with the rest owned by Kobe. The company will make internal mixers and twin screw rollerhead extruders used in tyre production.

ICICI Bank’s loan provisions halve, net profit up by 31%

January 24, 2011August 20, 2014Editor

ICICI Bank’s December quarter results were better than expectations, and it appeared to be benefiting from a phase, when rising interest rates result in better yields on loans, as the cost of funds rises with a lag. It has also managed to improve its asset quality during the quarter, which is a positive sign.