Hind Unilever quarterly net dips 3%

The company’s total income has increased from Rs 3218.4 crore for the quarter ended March 31 last year to Rs 3871.2 crore for the same period this fiscal. On the company’s performance in Q1, a leading FMCG analyst based in Mumbai said: “The company’s net sales grew by 19.1 per cent on the back of a strong FMCG business growth of 19.4 per cent. The results are pretty strong this quarter. In fact, it is one of the highest growths registered by HUL in the last eight years across the board accompanied by margin expansion in home and personal care (HPC) business.”

In a significant move, the company’s board has approved a change in the ‘accounting year of the company’ to commence from April 1 of every year and to end on March 31 of the following year. Consequently, the next annual accounts and report of the company will be for a period of 15 months commencing January 1, 2008, and ending March 31, 2009.

REL profit grows 41%

Mumbai: Anil Dhirubhai Ambani Group (ADAG) firm Reliance Energy Ltd (REL) on Monday announced a consolidated net profit of Rs 1,178.21 crore for the year ended March 31, 2008 — a 41.19 per cent growth over the previous year. The group had a net profit of Rs 834.48 crore for financial year 2006-07, REL said. The consolidated total income of the group rose to Rs 9,760.01 crore in the year ended March 31, from Rs 7,774.53 crore in the previous fiscal. REL announced a standalone net profit of Rs 1,084.63 crore for the fiscal ended March 31, 2008, a 35.33 per cent growth compared to last year.

Wockhardt net up 19%

Mumbai: Wockhardt Ltd posted its consolidated sales for the first quarter ended March 31, 2008 at Rs 785.7 crore, a jump of 50.3 per cent over the previous year’s period. Its net profit for the period stood at Rs 78.8 crore, a rise of 18.9 per cent over the last year. After adjustments, net profit was Rs 50.9 crore. The company’s marketshare grew 24 per cent. The business grew 69 per cent, driven largely by a surge in the European formulation business growing at 70 per cent.

STC profit rises by half

New Delhi: State Trading Corporation (STC) reported a 16 per cent growth in total turnover at Rs 17,753 crore for 2007-08. The group’s profit before tax stood at Rs 207 crore, up 47 per cent from 2006-07. STC also recorded a 30 per cent growth in export turnover to Rs 3,802 crore in the fiscal despite adverse impact of a strengthening rupee, the company said, adding that “vigorous marketing efforts in thrust areas resulted in achievement of an all-time high export turnover”. Exports of chemicals and pharmaceuticals grew by about 80 per cent to reach Rs 1,080 crore. Overseas sales of gold jewellery rose to Rs 639 crore against Rs 199 crore in the previous year. STC undertook sugar exports of Rs 133 crore during 2007-08 against negligible sales in the last three years. The import turnover stood at Rs 10,783 crore during the year.

Glenmark net up 3-fold

Mumbai: Glenmark Pharmaceuticals announced a consolidated net profit of Rs 218.96 crore for the quarter ended March 31, 2008, an over three-fold growth over the corresponding period a year ago. The company had a consolidated net profit of Rs 62.20 crore in the fourth quarter of last financial year. The consolidated total income increased to Rs 606.79 crore in the latest quarter from Rs 355.93 crore in the year-ago period. The group posted a net profit of Rs 631.25 crore and a total income of Rs 2,022.90 crore for financial year ended March 31. On a stand-alone basis, the company reported a net profit of Rs 130.14 crore for the quarter ended March 31, 2008, a 108.02 per cent growth over the corresponding period a year ago. The company had a stand-alone net profit of Rs 62.56 crore for the quarter ended March 31, 2007.