Mumbai: Driven by rise in commercial vehicle sales, Eicher Motors on Tuesday reported a 32.1% growth in profit after tax for the first quarter ended 30 June at Rs11.1 crore, as against Rs8.4 crore in the year-ago period. The company said its total income grew by 20.3% at Rs469.7 crore compared with Rs390.4 crore in the same period. The scrip closed at Rs355.55, a dip of 3.01%.
Bharat Forge Ltd reported a jump of 25.81% in profit after tax at Rs64.81 crore for the quarter ended 30 June, compared with Rs51.52 crore for the same period last year.
The total income (net of excise) of the company has increased by 23.97% at Rs550.22 crore for the June quarter, compared with Rs443.82 crore in the year-ago period, the leading auto component manufacturer informed the BSE. The scrip fell 1.13%, to close at Rs301.70.
Private sector lender Kotak Mahindra Bank on Tuesday posted a 99.45% jump in net profit at Rs47.67 crore for the first quarter ended 30 June, compared with Rs23.90 crore for the same period last year.
The bank’s total income rose 93.93% to Rs594.45 crore for the quarter from Rs306.52 crore for the same period a year ago, Kotak Mahindra Bank informed BSE. The scrip fell .48% to close at Rs739.
Varun Shipping Co., a marine transporter of gas and oil, said first quarter profit surged more than fivefold on a one-time foreign exchange gain on overseas loans and from carrying more cargo after buying ships. Varun Shipping profit rose to Rs127 billion in the three months to 30 June from Rs235.8 million a year earlier, the Mumbai-based company said in a statement to the National Stock Exchange.
Varun Shipping’s one-time gain after revaluing its foreign currency loans was at Rs971.1 million. The scrip closed at Rs 68.90, a dip of 1.78%.
Leading biscuit maker Britannia Industries Ltd has reported a 19% rise in its net profit to Rs36.1 crore for the quarter ended 30 June, despite high raw material prices.
The company has cautioned that this is likely to continue in the current year as well.
The firm had net sales of Rs576.9 crore for the quarter up from Rs483.2 crore in the corresponding quarter in 2006, an increase of over 19%. The scrip gained .59%, to close at Rs1720.
Bloomberg and a staff writer contributed to this story.