indiabusinessview

Jaiprakash Power Ventures’ net profit rises 35%

January 17, 2011August 20, 2014Editor

Jaiprakash Power Ventures (JPVL), a large private sector hydropower company reported a 52% increase in sales to Rs 181 crore, in the December 2010 quarter. Its sales slipped 36% sequentially, which should be seen in the light of the business being a seasonal one.

JPVL’s net profit is 35% up at Rs 23 crore, compared to the December 2009 quarter and one-fourth the previous quarter’s level.

Unichem profit falls 24%, stock falls 7%

January 16, 2011August 20, 2014Editor

Pharmaceutical company Unichem Laboratories reported a 14% increase in its standalone revenues to Rs 197 crore in the December quarter, over the same period last year. Its domestic business revenues rose by 12% to Rs 155 crore while its exports business revenues rose by 24%.

Its raw material costs rose at a much faster rate however, with material consumption rising by 18% to Rs 67 crore.

Starbucks and Tata Coffee brew India plan

January 16, 2011August 20, 2014Editor

Global coffee retailer Starbucks has been eyeing the growing out of home coffee market in India for years now, but players such as Café Coffee Day, Costa Coffee and Barista have been ahead in the curve. Starbucks has finally decided to take the plunge and announced a joint venture with the Tata Tea subsidiary Tata Coffee.

Godrej Properties net profit halves in December quarter

January 14, 2011August 20, 2014Editor

Godrej Properties, an emerging force in the real estate sector, has done well in the quarter ended December 2010, with sales rising 40% to Rs 48 crore, over the previous quarter, and by 39% over the same period last year.

Its profits, however, have fallen, with net profit halving to Rs 18 crore, compared to the previous quarter, but is flat when compared to the same period, a year ago.

Balaji Telefilms to sell non-core biz

January 14, 2011August 20, 2014Editor

Balaji Telefilms, a media and entertainment company famous for its television serials, has decided to hive off its three divisions in the ICT domain (information and communications technology). These are the mobile, internet division and education divisions.

HDFC net profit rises 32%, as investment income zooms

January 14, 2011August 20, 2014Editor

Housing Development Finance Corporation (HDFC), a well-known housing finance company, reported its December quarter numbers. Concerns about rising interest rates have clouded the outlook for financial service providers, particularly lenders. The quarter has seen slower growth in HDFC’s net interest income.

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CMC’s international biz drives growth

January 14, 2011August 20, 2014Editor

CMC Ltd, a mid-sized Rs 708 crore IT solutions company has announced its results for the quarter ended December 2010. Its consolidated sales have risen by 29% to Rs 274 crore, over the same quarter last year. Its net profit has risen by 25% in this period.

Sintex Industries logs impressive results in December quarter

January 13, 2011August 20, 2014Editor

Sintex Industries, the plastics and textile major, has logged impressive growth of 28% in revenues to Rs 1,186 crore, in the December quarter over the preceding quarter, and about 42% year on year. It has been strong on the profit front too, with the net profit crossing the Rs 100 crore mark, to Rs 113 crore.

Birla Corp to set up Rs 450 crore cement plant

January 13, 2011August 20, 2014Editor

Birla Corporation, the Rs 2,160 crore revenue flagship of the MP Birla group, announced the setting up a 1 million tonne cement plant. It has signed a memorandum of understanding with the Assam government, to set up a plant at Umransu in the North Cachar Hills district. The project cost will be Rs 450 crore and will be implemented through a joint venture.

Infosys meets $ guidance, but markets want more

January 13, 2011August 20, 2014Editor

Infosys Technologies reported its December quarter results today. Its share price was down by about 4% at the time of posting, as its results lagged market expectations.