Thermax Q1 net up 137 per cent

Addressing her first annual general meeting (AGM) as Thermax chairperson, Meher Pudumjee announced her company’s plans for a Rs 100 cro...

Addressing her first annual general meeting (AGM) as Thermax chairperson, Meher Pudumjee announced her company’s plans for a Rs 100 crore expansion that would be implemented over the next 24 months.

The funds, to be drawn from internal accruals, will be used to invest in IT, expand manufacturing capacity and engineering resources to meet the growing demand in the domestic and international markets, she said. A large share of these investment would be going towards the large boiler and heater business. The Rs 1,200 crore engineering major is also setting up a second plant outside the state. ‘‘We are likely to set it up along the coast so that there’s no problem in letting heavy consignment go through,’’ Pudumjee said.

For the first quarter of fiscal 2005-06, Thermax posted a net profit of Rs 13.3 crore, a jump of 137 per cent, with sales increasing 79 per cent to Rs 223.2 crore.

IPCL Q1 net profit up 82.92% at Rs 225 crore

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Mukesh Ambani-controlled Indian Petrochemicals Corporation Ltd (IPCL) on Tuesday posted 82.92 per cent rise in net profit at Rs 225 crore for the quarter ended June 30, 2005 compared with Rs 123 crore for the corresponding quarter of the previous fiscal. Total income has increased 10.36 per cent to Rs 2,023 crore for the quarter ended June 30, 2005 from Rs 1,833 crore in the year-ago period, IPCL informed the BSE.

NIIT Tech posts 6% yoy profit at Rs 14 cr

NIIT Technologies on Tuesday reported a 6 per cent year-on-year increase in net profit in the first quarter this fiscal at Rs 14 crore. The revenues of the company during the quarter ending June 30, 2005 rose by 7.0 per cent compared with April-June 2004 to Rs 136.5 crore.

The company is expecting 7-8 per cent quarter-on-quarter growth in revenues for the second quarter this fiscal. The IT solutions business contributed Rs 127.2 crore, while the BPO segment grew 29 per cent to Rs 9.3 crore. ‘‘Consistent with our approach of better aligning our offerings to select industry verticals, we achieved an expanded operating margin of 19 per cent, resulting in an improvement of 102 basis points,’’ NIIT Tech CEO Arvind Thakur said.

Kotak Mahindra Bank Q1 net up 51%

Led by growth in securities broking business and premium income from life insurance business, Kotak Mahindra Bank has posted a 51 per cent increase in its consolidated net profit for the first quarter ended June 30, 2005 at Rs 46.50 crore, up from Rs 30.70 crore in the year-ago period. Total income during the reporting quarter increased 62 per cent to Rs 455.50 crore compared with Rs 280.90 crore in June 2004, the bank said in a statement here on Tuesday.

Dabur India registers 40.5% Q1 profit

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Dabur India Ltd on Tuesday reported 40.5 per cent rise in net profit to Rs 28.84 crore for the first quarter this fiscal compared with Rs 20.53 crore for the corresponding quarter in the last fiscal.

Total turnover increased 4.7 per cent to Rs 299.3 crore for the quarter ended June 30, 2005 from Rs 286 crore in the year-ago period, the company said in a release. ‘‘There was a pipeline correction that was undertaken by Dabur during the quarter on account of Balsara integration which resulted in topline being lower than previous quarters,’’ Dabur India CEO Sunil Duggal said.

Prashant Kishor: ‘Democracy not weak… Those saying people will lose vote rights are fools’

Political Pulse1 hr ago

Political strategist-turned-politician Prashant Kishor launched his Jan Suraaj Party (JSP) after three years touring Bihar. The coming Assembly polls will be the first test of his goal to emerge as the third alternative in Bihar politics. Kishor speaks to The Indian Express about his party’s campaign, and the issues being raised by his rivals.

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