HPCL reports 442 per cent growth

MUMBAI: Indian Petrochemical Corporation Ltd (IPCL) has posted a net profit of Rs 75 crore for the third quarter ended December 31, 2002, an increase of 294.7 per cent over Rs 19 crore in the corresponding quarter of the previous fiscal. The improved performance of the company has come within two quarters from the date of acquisition of IPCL by Reliance Industries.

L&T net up 47.99% in Q3

MUMBAI: Larsen & Toubro Ltd (L&T) has posted a 47.99 per cent rise at Rs 80.67 crore in the third quarter ended December 31, 2002, compared to Rs 54.51 crore in same period of previous fiscal. Net sales/income from operations in period under review has increased by 31.09 per cent to Rs 2,329.73 crore as against Rs 1,777.07 crore in December 2001 quarter, L & T said in a release here on Thursday. For nine months ended December, net profit grew to Rs 167.47 crore (Rs 160.04 crore in corresponding period of last fiscal) while net sales rose sharply to Rs 6,207.71 crore.

Berger Paints net down 19%

KOLKATA: Net profit of Berger Paints Limited has dropped 19 per cent at Rs 9.66 crore in the third quarter of the current financial year. The net profit of the company stood at Rs 11.72 crore in the same period previous fiscal. A company release issued here on Thursday said that net sales of the company in current Q3 rose marginally to Rs 178.83 crore from Rs 165.09 crore in the comparable period last year. The company’s net profit in the first nine months stood at Rs 24.22 crore, which is almost stagnant at the same level of that the previous year.

Bhel net up at Rs 81.3 crore

NEW DELHI: State-Owned Bharat Heavy Electricals Limited (BHEL) on Thursday reported a marginal 1.47 per cent growth in third quarter net profit at Rs 81.3 crore. Net sales went up by 12.63 per cent to touch Rs 1,813.1 crore during October-December 2002 as compared to same period last fiscal, a company release stated on Thursday. Profit after tax for the nine month period ending December 2002 shot up by a massive 39 per cent at Rs 141 crore owing to improved material consumption, sharp reduction in interest cost and deferred revenue expense charges.

I-flex Solutions net up 51%

MUMBAI: I-Flex Solutions Ltd has posted a 50.58 per cent rise in its net profit at Rs 52.69 crore for the third quarter ended December 31, 2002 as against Rs 34.99 crore in the same period last fiscal. The total income in the reporting quarter was up by 36.06 per cent at Rs 156.38 crore as against Rs 114.93 crore in the Q3 of 2001-02, the company informed the BSE on Thursday. The company further stated in a release the services billing rates are showing stability along with the marginal increase in offshore rates.

BoI up 27% at Rs 196.89cr

MUMBAI: BANK Of India (BOI) has reported a 27 per cent rise in net profit at Rs 196.89 crore for third quarter ended December 31, 2002, compared to Rs 155.16 crore in same period of previous fiscal. Total income in the period under review also increased to Rs 1,847.72 crore as against Rs 1,604.68 crore in same period of last year, BoI said.

Blue Dart net up at Rs 5.32cr

MUMBAI: Courier and logistics company Blue Dart Express Ltd has a reported a flat growth in its net profit at Rs 5.32 crore for the third quarter ended December 31, 2002 as compared to Rs 5.27 crore for the same period last fiscal. Net sales from operations during the period under review was higher at Rs 76.45 crore as against Rs 73.14 crore in the third quarter last year, a company release stated here on Thursday. For the nine month period ending December, the net profit was higher at Rs 14.64 crore and net sales at Rs 234.34 crore, the company stated.