Nov. 1: Tata Telecom Ltd has posted a quantum leap in net profit at Rs 8.57 crore in the second quarter ended September 30, 2003, compared with Rs 3.33 crore recorded during the same period of the previous fiscal.
The converged communications solution provider’s total income (net of excise) rose to Rs 92.97 crore in the quarter under review, as against Rs 69.19 crore posted during the corresponding period a year ago. For the six-month period ended September 30, Tata Telecom’s net profit soared to Rs 13.08 crore on a turnover of Rs 169.69 crore compared with Rs 4.92 crore on a turnover of Rs 129.65 crore registered in 2002-03.
Titan Industries has reported a revenue of Rs 223 crore for the second quarter ended September, an increase of 13 per cent over Rs 197.20 crore recorded during the corresponding period last year.
Net profit rose by 221 per cent at Rs 8.87 crore in the July-September, as against Rs 2.76 crore during the same period last year.
During the first half ended September, Titan reported revenue of Rs 370.33 crore, up 19 per cent over Rs 310.94 crore during the first half in 2002.
Titan’s losses dropped to Rs 1.93 crore in the first half as against Rs 8.87 crore reported during April-September 2002.
The growth in top line of the jewellery division at Rs 145.13 crore was subdued due to one time impact of the restructuring of the jewellery business
“The restructuring is aimed at improving operating performance of the division which has shown significant increase in profit before interest and tax compared to the previous year,” Titan Industries managing director Bhaskar Bhat said.
He said the second half was the high tide of the company’s businesses and given the current economic outlook Titan expected to post increased profits in its businesses for the full year.
P&G net up 13%
Proctor & Gamble Hygiene and Healthcare Ltd (PGHH) has posted a 13 per cent rise in its net profit at Rs 22.06 crore for the first quarter ended September as against Rs 19.53 crore in the same period last year.
The fast moving consumer goods major recorded a 21 per cent growth in its first quarter net sales at Rs 128.45 crore as against Rs 106.48 crore in July-September 2002.
“The sales and profits showed strong double digit growth on the back of excellent monsoon, effective advertisement and increased sales distribution,” PGHH chairman Bharat Patel said.
Health and hygiene product segment contributed revenues of Rs 92.83 crore (Rs 76.53 crore in the first quarter of 2002-03) while those from contract manufacturing stood at Rs 35.62 crore (Rs 29.95 crore).
Ambuja Cement gains
Ambuja Cement Eastern Ltd, a subsidiary of Gujarat Ambuja Cements, has posted better results in the first quarter showing a net profit of Rs 3.18 crore as against Rs 36 lakh loss in the corresponding period last year.
The total sales of the company between April-June period was up 18 per cent to 2.99 lakh tonnes cement as against 2.54 lakh tonnes sold during the corresponding period of the previous year.
The company’s operating profit was also up by 20 per cent as its interest cost was down by 42 per cent to Rs 2.85 crore.