Mumbai:Piramal Healthcare Ltd reported a profit of Rs140 crore for the quarter ended December, an increase of 128% over the corresponding period in the previous fiscal. The jump, however, was largely due to the low base caused by losses in 2008 from foreign exchange fluctuations. Revenue for the third quarter was at Rs910 crore, up 9% from Rs828.3 crore in the year-ago period. Revenue from contract manufacturing business remained flat at Rs210 crore.
NDTV swings to profit after restructuring
New Delhi:New Delhi Television Ltd (NDTV) swung to a profit of Rs74.1 crore in the third quarter from a loss of Rs120.8 crore in the year-ago period after a restructuring exercise. Sales rose to Rs164.49 crore from Rs129.35 crore.
During the quarter, the company sold 69% of its subsidiary NDTV Lifestyle Ltd for $55 million (Rs253 crore) to US-based media company Scripps Networks Interactive Inc. The company also earned $117 million from the sale of 92% of its stake in its Hindi general entertainment channel NDTV Imagine to Turner Asia Pacific Ventures Inc.
— Ishita Russell
Idea Cellular’s quarterly profit declines 22.5%
Mumbai:Idea Cellular Ltd saw its profits fall by 22.5% for its third quarter against the same period last year, during a period when the most aggressive tariff war was fought by Indian telecom firms to enlist and retain subscribers.
The firm’s profit fell from Rs220 crore in the three months to December in 2008 to Rs170 crore in the same period in 2009. However, total revenue grew 15.3% from Rs2,731 crore to Rs3,149.5 crore.
— Lison Joseph & Joel Rebello