July 22: Tata Power Company Ltd has posted a 18.7 per cent rise in net profit at Rs 99.43 crore for the first quarter ended June 30 this year as against Rs 83.73 crore in the same period last year.
Net sales for the reporting quarter grew by 4 per cent to Rs 1,082 crore as against Rs 1,040 crore, managing director F. A. Vandrevala said in a release today. Other income of the company declined to Rs 24.15 crore from Rs 29.74 crore in April-June 2002, he said.
The interest and financial charges were also down to Rs 77.87 crore (Rs 79.57 crore).
Tata Power has signed the shareholders agreement with Power Grid Corporation of India Ltd for Tata Delhi transmission project, an inter-state transmission venture, in this quarter, it said.
Ashok Leyland net up
Ashok Leyland has reported a 51.89 per cent increase in net profit at Rs 14.81 crore in the quarter ended June 30 as against Rs 9.75 crore in the corresponding previous quarter.
According to the figures released by the company today, sales turnover for the quarter at Rs 684.47 crore was up by 5.3 per cent compared with Rs 649.73 crore during the same period last year.
Profit before tax was 39.9 per cent higher at Rs 21.74 crore as against Rs 15.54 crore in the first quarter of last fiscal.
At its annual general meeting today the company has approved a dividend of 50 per cent for the financial year 2002-03.
Crompton net vaults
Crompton Greaves Ltd has posted a 355 per cent rise in net profit at Rs 2.73 crore for the first quarter ended June 30, 2003, compared with Rs 60 lakh recorded in the same period last fiscal.
Total income (net of excise) during the period under review increased to Rs 375.74 crore as against Rs 370.93 crore last year, the company informed the Bombay Stock Exchange.
ABB Q2 net up
Asea Brown Boveri Ltd (ABB) has posted a 38.9 per cent rise in net profit at Rs 45.26 crore for the second quarter ended June 30, 2003 compared with Rs 32.57 crore in the same period last year. The revenues for the quarter grew by 16 per cent to Rs 337.91 crore (Rs 291.16 crore), the company said today.
ABB’s net profit and revenues for the first half ended June 30 stood at Rs 54 crore and Rs 628.1 crore respectively, it added.
Godrej Consumer net
Godrej Consumer Products Ltd has posted an 8 per cent rise in its net profit at Rs 13.8 crore for the first quarter ended June 30, 2003 compared with Rs 12.8 crore for the April-June 2002.
The board has recommended 50 per cent interim dividend for the current financial year ending March 2004, the company said in a release today.