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HDFC net jumps 21% in third quarter

Mumbai, Jan. 21: Housing major HDFC Ltd has recorded a 21.18 per cent increase in net profit at Rs 146.65 crore for the third quarter ended December 31, 2002 compared with Rs 121.01 crore in the same period last fiscal.

The company’s income from operations in the reporting quarter was up by 10.88 per cent at Rs 737.64 crore over Rs 665.22 crore in the corresponding previous quarter, HDFC chairman Deepak Parekh said in a statement here today.

For the nine-month period ended December 31, net profit rose by 20.75 per cent to Rs 451.10 crore as against Rs 373.56 crore in the same period last financial year. Income from operations was up by 11.74 per cent to Rs 2,201.04 crore over Rs 1,969.78 crore.

Interest and other charges for the reporting quarter was higher at Rs 514.75 crore (Rs 482.91 crore), he said.

Indian Hotels net soars

Indian Hotels has reported a 86 per cent rise in profit after tax at Rs 11.17 crore in the third quarter ended December, 2002, as against Rs 6.01 crore in the previous consecutive quarter.

Revenue was up 27 per cent at Rs 170.5 crore in the reporting quarter compared with Rs 134.2 crore last year.

Indian Hotels attributed the third quarter performance to an upturn in business sentiment with greater numbers of inbound tourist and business travellers combined with strong domestic business and leisure traffic. It resulted in a sharp increase in occupancies compared with the previous quarters and the last financial year.

Godrej payout

Godrej Consumer Products Ltd (GCPL) has recorded a 20 per cent rise in net profit at Rs 14.78 crore for the third quarter ended December 31, 2002, compared with Rs 12.3 crore in the same period last fiscal.

The board has declared a third interim dividend of Rs 2 per share for 2002-03 (50 per cent on shares of face value of Rs 4 each) taking the total interim dividend payout to Rs 6 per share, a GCPL release said here today.

Total sales (net of excise duty) rose to Rs 128.93 crore in the period under review as against Rs 119.60 crore last year. The sales of Godrej brands grew by 5 per cent to Rs 121.2 crore (Rs 115), it said.

For the nine months ended December 2002, the net profit increased to Rs 41.57 crore (Rs 32.13 crore) while sales rose to Rs 362.44 crore (Rs 348.33 crore).

Nicholas Piramal profit

Nicholas Piramal India Ltd (NPIL) has reported a higher net profit at Rs 21.19 crore for the third quarter ended December 31, 2002, compared with Rs 13.19 crore in the same period last fiscal.

Total income increased to Rs 221.34 crore as against Rs 191.21 crore in the third quarter of last year, NPIL said in a release here today.

For the nine months ended December, net profit rose to Rs 78.49 crore (Rs 45.48 crore) while total income increased to Rs 707.05 crore (Rs 604.26 crore), it added.

The results for the third quarter and the nine months are not comparable with the figures of the corresponding period last fiscal as the current year's figures include operations of ICI India Ltd’s pharma division acquired in March 2002.

Siemens Q1 net up 68.18%

Siemens Ltd has posted a 68.18 per cent rise in net profit at Rs 34.41 crore for the first quarter ended December, compared with Rs 20.46 crore in the same period last year. Net sales for the reporting quarter grew by 15 per cent at Rs 298.5 crore over Rs 260.3 crore in October-December 2001, Siemens said in a statement here today.

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