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Bajaj Auto in top gear, net leaps 47%

Oct. 22: Bajaj Auto Ltd has reported a 47 per cent growth in net profit to Rs 193.4 crore for the quarter ended September 30, 2003 compared with Rs 132 crore in the corresponding previous quarter.

Total turnover in the period under review has increased 25 per cent to Rs 1,550 crore in the reporting quarter from Rs 1,240 crore in the year-ago period.

Sales and other operating income during the reporting quarter increased 21 per cent to Rs 1,430 crore as against Rs 1,180 crore reported in the corresponding previous quarter.

Bajaj Auto clocked a 62 per cent rise in exports to Rs 128.6 crore compared with Rs 79.5 crore in the year-ago period.

ACC Q2 net jumps

Associated Cement Companies Ltd (ACC) has posted net profit of Rs 27.88 crore for the second quarter ended September 30, 2003, compared with Rs 5.12 crore in the year-ago period.

Net sales during the quarter grew to Rs 897.04 crore as against Rs 791.32 crore in July-September 2002, a company press release said today.

IDBI Bank net Rs 36cr

IDBI Bank Ltd has posted a net profit of Rs 36.19 crore for the quarter ended September 30, 2003 compared with Rs 16.09 crore in the corresponding previous quarter.

Total income has increased to Rs 240.16 crore in the reporting quarter from Rs 176.7 crore in the same period of 2002.

Indal Q2 net dips

Indian Aluminium Company Ltd, an Aditya Birla group entity, has reported a marginal dip in net profit to Rs 31.3 crore for the second quarter ended September 30, 2003 compared with Rs 31.5 crore in the corresponding previous quarter.

Net sales/income from operations for the reporting quarter rose 6 per cent at Rs 390 crore as against Rs 369.5 crore clocked in the year-ago period.

For the half-year ended September profit before tax surged 24 per cent to Rs 81.8 crore (Rs 66.2 crore) and exports grew 6 per cent at Rs 210.1 crore (Rs 198.5 crore). Net sales and operating revenue grew 13 per cent during the period under review at Rs 771 crore as against Rs 679.8 crore in the year-ago period.

Raymond net up 15%

Textile major Raymond Ltd has posted a 14.76 per cent rise in net profit at Rs 39.49 crore in the second quarter ended September 30, 2003, compared with Rs 34.41 crore recorded during the same period last year.

The company’s total income (net of excise) rose to Rs 316.25 crore during the quarter from Rs 284.11 crore posted during the corresponding period of last year, a Raymond release said today.

Polaris Q2 net soars

Polaris Software Lab reported a 134 per cent jump in net profit to Rs 21.69 crore for the quarter ended September 30, 2003, in comparison to Rs 9.27 crore during the same quarter of last financial year.

Total revenues stood at Rs 157.41 crore in the quarter ended September 30 as against Rs 75.89 crore during the corresponding quarter last year, a growth of 107 per cent.

Operating profit for the reporting quarter was up 149 per cent to Rs 34.06 crore compared with Rs 13.67 crore during the same quarter last financial year, Polaris press release said today.

Kotak Mahindra

Kotak Mahindra Bank Ltd posted a net profit of Rs 19.84 crore for the quarter ended September 30, 2003 as against to Rs 11.88 crore in the year-ago period.

Total income rose to Rs 93.81 crore from Rs 62.49 crore year-on-year.

The consolidated results of the group shows net profit at Rs 38.94 crore for the reporting period compared with Rs 21.78 crore last year.

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