Briefly Business

Grasim Industries posted a consolidated revenue of Rs 5,119 crore for the quarter ended June as against Rs 5,134 crores in the same period of last year....

Grasim revenue steady

MUMBAI: Grasim Industries posted a consolidated revenue of Rs 5,119 crore for the quarter ended June as against Rs 5,134 crores in the same period of last year. This excluded the revenue of the discontinued sponge iron business from the corresponding quarter on a comparable basis. The net profit for the quarter was at Rs 575 crore Rs 744 crore. Following the demerger of the cement business into Samruddhi Cement Ltd,Grasim8217;s shareholders were allotted equity shares of SCL,enabling them to have a direct participation in SCL. As a result,an amount of Rs 110 crore out of the net profit of SCL,which was the share of Grasim8217;s shareholders,has been reduced as minority share. This has affected the net profit for the quarter. When added back,the net profit is at Rs 685 crore,lower by 8.

Paper Products sales rise 15.7

MUMBAI: Paper Products Limited,a leading flexible packaging company,has achieved net sales of Rs 333.23 crore during the half year ended June 2010,representing an increase of 15.7,against net sales of Rs 288.09 crore in H1-2009. The profit before tax is Rs 34.55 crore compared to Rs 30.00 crore in H1-2009 showing a growth of 15.2. The company has also achieved sales of Rs 174.15 crore in Q2-2010 representing an increase of 20.2,over sales of Rs 144.92 crore in Q2-2009.The profit before tax is Rs 8.40 crore in Q2-2010 as compared to Rs 13.69 crore in Q2-2009.

JBF Ind profit rises 4.85

MUMBAI: JBF Industries Ltd,a leading petrochemicals player,has posted a net profit after minority interest of Rs 54.86 crORE for Q1-FY11,up by 4.85 on a YoY basis. Total Income on a consolidated basis stands at Rs 1,414.47 crore,up from Rs 1,221.45 cr in Q1-FY10,a growth of 15.8 on YoY basis. The EBITDA stood at Rs 155.77 crore implying an EBITDA margin of 11.01 up from 8.04. EBITDA margin in Q1-FY10. The diluted EPS reported on a consolidated basis stands at Rs 8.28 per share against Rs 7.97 per share previously

Elder Pharma net jumps 64

MUMBAI: The income from operations of Elder Pharmaceuticals Ltd has gone up to Rs 191.09 crore for Q1 FY2011 as compared to Rs 162.90 crore during the corresponding quarter in the previous year. The operating profit PBIDT has gone up to Rs 39.50 crore for Q1 FY2011,reflecting a growth of 46 over the previous corresponding quarter8217;s figure of Rs 26.97 crore. The net profit too has gone up to Rs 18.87 crore previous year8217;s quarter 8211; Rs 11.48 crore,a jump of 64.

Sree Sakthi net up 42.6

MUMBAI: The net profit of Kochi-based Sree Sakthi Paper Mills Ltd went up by 42.67 to Rs 146.58 lakh in the quarter ended on June 2010 compared with Rs 102.74 lakh in the same period of the previous year. The turnover during the quarter rose 33.14 to Rs 43.67 crore from Rs 32.80 crore a year ago,it said. The company has planned 1 lakh tonne capacity and Rs 240 crore turnover on completion of all expansion programmes.