Corporate resultshttps://indianexpress.com/article/news-archive/web/corporate-results/

Corporate results

Impacted by forex losses and the adoption of new accounting standards,drug major Ranbaxy Laboratories on thursday reported a net loss...

Ranbaxy says Q4 loss due to hit on forex,new accounting

NEW DELHI: Impacted by forex losses and the adoption of new accounting standards,drug major Ranbaxy Laboratories on thursday reported a net loss of Rs 679.80 crore in the quarter ended December 31,2008,against a net profit of Rs 187.80 crore in the same period in the previous year. Total sales rose by 6.38 per cent to Rs 1,909.60 crore for the quarter under review,from Rs 1,795.10 crore in the corresponding period last fiscal. For the financial year ended December 31,2008,Ranbaxy reported a net loss of Rs 914.60 crore,while it had a net profit of Rs 786.60 crore in the previous year. the firm follows a January-December financial year. During the year,total sales rose by 8.34 per cent to Rs 7,250.70 crore,from Rs 6,692.70 crore in FY’07. “A forex loss of $179 million due to fluctuations in rupee movement; (adapting) a new accounting standard ‘AS 30’,which resulted in a one-time loss of $161 million; and an inventory loss of $59 million due to the ban on 30 drugs made by the company” resulted into a cumulative loss of Rs 914 crore for the whole year Ranbaxy Laboratories MD and CEO Malvinder Mohan Singh said.

Rel Power posts Rs 106-cr profit

MUMBAI: Anil Ambani group firm Reliance Power posted a net profit of Rs 106 crore for the third quarter ended December 31,2008. The quarterly results are not comparable since the company was listed only in February last year. The firm said it had a total income of Rs 131 crore for the third quarter. It said construction work for the 600 MW Rosa Phase I project in Shahjahanpur in Uttar Pradesh is expected to be commissioned ahead of schedule.

Rel Infra net dips 16.71 per cent

MUMBAI: Anil Ambani groups Reliance Infrastructure said its net profit for the quarter ended December 31,declined by 16.71 per cent to Rs 251.19 crore. The company had a net profit of Rs 301.60 crore in the same quarter of fiscal 2008. Meanwhile,net sales of the company rose 77.45 per cent to Rs 2,717.63 crore for the quarter under review,against Rs 1,531.48 crore for the same quarter a year ago. For the nine-month period ended December 31,the firm reported a net profit of Rs 792.70,up 2.51 per cent,against Rs 773.24 crore in the corresponding quarter in the previous fiscal.

Piramal healthcare posts profit

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MUMBAI: Ajay Piramal group company,Piramal Healthcare,has clocked a lower net profit of Rs 59.8-crore on a consolidated basis in Q3 FY 09 as against Rs 72.7-crore in the year-ago period. The lesser net profit is mainly due to the provision of Rs 35.1 crore towards loss on net foreign currency outstanding,the company said. The company’s total income from operations on a consolidated basis for the reporting quarter stood at Rs 832.5-crore as against Rs 724.88-crore in the year-ago period,up 14.9 per cent.

Cipla Q3 net up 6 per cent

MUMBAI: Pharmaceutical firm Cipla said its net profit for the third quarter ended December 31 rose by 6.07 per cent at Rs 223.44 crore. The company had a net profit of Rs 210.65 crore for the same quarter 2007-08. Total income of the company rose to Rs 1,360.48 crore for the quarter under review,against Rs 1,115.52 crore for the same quarter last fiscal. For nine months ended December 31,the company had a net profit of Rs 514.91 crore,down 1.17 per cent against Rs 521.03 crore for the same period in the last financial year.

Idea Cellular Q3 net dips 7 pC

MUMBAI: Aditya Birla Group company Idea Cellular said its consolidated net profit for the third quarter of the current financial year fell 7.31 per cent at Rs 219.45 crore over Q3 a year ago,even though its standalone net profit rose 19.73 per cent to Rs 284.01 crore. The cellular operator had a consolidated net profit of Rs 236.77 crore in the third quarter in the last financial year. However,on a standalone basis,Idea registered a net profit of Rs 284.01 crore in the third quarter,a 19.73 per cent growth rate over the corresponding period a year ago. The company had a net profit of Rs 237.19 crore in the December quarter in the last financial year.

Kotak Mahindra Bank PAT down

MUMBAI: Aditya Birla Group company Idea Cellular said its consolidated net profit for the third quarter of the current financial year fell 7.31 per cent at Rs 219.45 crore over Q3 a year ago,even though its standalone net profit rose 19.73 per cent to Rs 284.01 crore. The cellular operator had a consolidated net profit of Rs 236.77 crore in the third quarter in the last financial year.