Mumbai: Jindal Group firm JSW Steel Ltd on Monday posted 9.38% decline in net profit to Rs328.18 crore for the third quarter ended 31 December, compared with Rs362.15 crore in the corresponding quarter in the last fiscal.
The total income of the firm, however, increased 12.12% at Rs2,598.19 crore for the quarter under review, against Rs2,317.34 crore in the year-ago period, the company informed the Bombay Stock Exchange.
The consolidated profit and total income of the group for the December quarter stood at Rs270.06 crore and Rs2,878.08 crore.
JSW expects that a sharp rise in long term prices of iron ore and coal would escalate steel prices in 2008.
Indian Hotels profit rises 31% to Rs135 cr
New Delhi:Indian Hotels Co., the nation’s biggest hotel company, said third-quarter profit rose 31%.
Net income climbed to Rs135 crore ($34 million) in the quarter ended 31 December from Rs103 crore a year earlier, the Mumbai-based company said in a release to the Bombay Stock Exchange.
Sales rose 15% to Rs527 crore from Rs458 crore.
Britannia Q3 profit more than doubles
New Delhi: Indian cookie maker Britannia Industries Ltd said third quarter profit more than doubled.
Net income for the third quarter of fiscal 2008 rose to Rs45.4 crore, from Rs16.4 crore in the year-ago period, the Bangalore, India-based company, said in a statement to the Bombay Stock Exchange (BSE) on Monday. Sales rose 16% in the quarter to Rs663 crore.
Britannia’s shares fell by Rs37.50, or 2.5%, to close the day at Rs1,449.30 on BSE.
Deccan Chronicle’s Oct-Dec net surges
Mumbai:Deccan Chronicle Holdings Ltd, a newspaper publisher, reported a net profit in the December quarter of Rs102.9 crore, against Rs48.44 crore in the year-ago quarter.
Net sales of the company, which publishes the Deccan Chronicle, were up at Rs216.2 crore, from Rs146.3 crore in the year-ago period.
Analysts expected the company to report a net profit of Rs83.1 crore on net sale of Rs200 crore, according to a Reuters poll.
Deccan Chronicle Holdings plans to launch a financial daily to tap an advertising opportunity that analysts peg at Rs500 crore.
“There is great potential for a business daily that is more south-centric and south-specific,” said P.K. Iyer, managing director at the firm, which also publishes The Asian Age.
GVK Power’s net profit in Dec quarter soars
Mumbai:GVK Power and Infrastructure Ltd’s consolidated profits in the December quarter rose 159.82% to Rs42.22 crore, from Rs16.25 crore in the year-ago quarter. Net consolidated income in the quarter was at Rs118.38 crore, compared with Rs67.07 crore in the year-ago period.
GVK Power and Infrastructure operates roads, airports and power generation businesses.
HPCL posts Q3 net loss of Rs15.73 crore
Mumbai: Public sector Hindustan Petroleum Corp. Ltd (HPCL) on Monday reported a net loss of Rs15.73 crore for the quarter ended 31 December, compared with a net profit of Rs407.31 crore in the corresponding quarter last fiscal.
The total income of the company, however, rose 22.25% at Rs 27,381.47 crore for the quarter, from Rs22,396.88 crore in the corresponding period last year.
Shares of HPCL closed at Rs264.85, down 2.9% on the Bombay Stock Exchange on Monday.