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Eveready net up 78.4%

Oct. 28: Eveready Industries has posted a 78.4 per cent growth in net profit in the quarter ended September 30. Its net profit in the quarter shot up to Rs 36.61 crore compared with Rs 20.52 crore in the corresponding period of last year. The company’s net income from sales at Rs 258.26 crore was about 11 per cent higher than 2001-02.

The company earned Rs 105.29 crore in gross revenues from its tea business, and Rs 152.96 crore from its fast moving consumer good (FMCG) segment, which includes batteries and flashlights. Operating profit from the tea segment was Rs 40 crore, and Rs 18.6 crore from the other.

Besides the growth in income from sales, the company saved close to Rs 10 crore in interest costs during the quarter. Expenditure on account of interest was Rs 20.70 crore compared with Rs 30.17 crore a year ago. This was achieved through restructuring of the company’s debts.

Nirma net up 49.54%

Nirma Ltd has posted a 49.54 per cent increase in net profit at Rs 51.49 crore for the second quarter ended September 30 as compared with Rs 34.43 crore in the same period of the previous year.

Net sales stood at Rs 457.19 crore for the quarter under review as against Rs 454.27 crore in the second quarter of 2001, Nirma informed the Bombay Stock Exchange here today.

The company’s other income has increased from Rs 3.73 crore in the second quarter of 2001 to Rs 5.31 crore in the current quarter.

ABB posts 15% rise in net

Asea Brown Boveri Ltd (ABB) has posted a 15 per cent increase in net profit at Rs 17.33 crore for the third quarter ended September 30 as compared with Rs 14.99 crore in the same period previous year.

The total income in the reporting quarter increased by 17 per cent to Rs 281.23 crore from 240.75 crore in the third quarter of 2001, ABB said in a statement here today.

Kesoram slips into red

B. K. Birla flagship Kesoram Industries Ltd today reported a net loss of Rs 3.92 crore during the second quarter ended September, 2002, against a net profit of Rs 2.05 crore in the same quarter previous fiscal. A substantial decline in interest charges to Rs 12.68 crore as against Rs 17.89 crore last year proved too little on the back of a marginal increase in total expenditure and a substantial decline in other income, which forced it to report a loss before tax of Rs 3.92 crore against a profit before tax of Rs 7.29 crore last year.

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