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Indian Rayon net leaps 66% to Rs 54 cr

Oct. 21: Indian Rayon registered a 65.5 per cent rise in profit to Rs 53.59 crore during the second quarter ended September 30, 2003 riding on the back of robust volume growth across businesses. The company had clocked a net profit of Rs 32.38 crore in the corresponding previous quarter.

The Aditya Birla group company’s turnover was up 14.2 per cent to Rs 426.34 crore from Rs 373.29 crore last year.

Indian Rayon realised a capital gain of Rs 19.95 crore during the quarter on the divestment of its stake in Indo Gulf Fertilisers.

Net profit for the six-month period ended September 2003 grew 58.3 per cent at Rs 75.14 crore compared with Rs 47.46 crore, while net sales grew 3.7 per cent at Rs 765.33 crore over last fiscal.

Indo Gulf net up 31%

Indo Gulf Fertilisers, another Aditya Birla group company, reported a 31 per cent rise in net profit to Rs 27.65 crore during the second quarter ended September 2003 from Rs 21.06 crore posted in the year-ago period.

Net sales during the quarter grew by 38 per cent at Rs 216.64 crore compared with over Rs 157.48 crore last fiscal, Indo Gulf managing director Rakesh Jain said today.

Net profit for the six months ended September rose by 29 per cent at Rs 39.90 crore over Rs 31.02 crore, he said.

Nicholas Piramal

Pharma major Nicholas Piramal India Ltd (NPIL) has posted a net profit of Rs 47.69 crore for the second quarter ended September 30, 2003 with net sales of Rs 311 crore. The net profit and net sales in the same period last fiscal stood at Rs 26.15 crore and Rs 254.26 crore respectively.

NPIL chairman Ajay Piramal told newspersons that the results of the reporting quarter are not strictly comparable with the figures of the corresponding previous period as the current figures include results of erstwhile Global Bulk Drugs and Fine Chemicals Pvt Ltd, which was merged with NPIL with effect from January 1, 2003.

For the first half ended September, net profit was pegged at Rs 72.9 crore as against Rs 57.3 crore in the same period last year, while net sales rose to Rs 574.75 crore (Rs 477.48 crore), he said.

Jisco Q2 net up

Jindal Iron and Steel Company Ltd has posted a higher net profit of Rs 45.46 crore for the second quarter ended September 30 as against Rs 15.26 crore in the same period last fiscal.

Net sales for the reporting quarter grew to Rs 506.75 crore as against Rs 343.82 crore last year, Jindal Iron and steel said in a release today.

Digital GlobalSoft net

Digital GlobalSoft Ltd, the Indian subsidiary of Hewlett Packard, has reported a 49.2 per cent jump in net profit at Rs 31.89 crore for the second quarter ended September 30 as against Rs 21.37 crore year-on-year.

The company clocked a revenue of Rs 149.88 crore, up by 53.1 per cent over Rs 97.9 crore reported last year, a Digital statement said.

Digital said it invested Rs 21.8 crore in infrastructure expansion during the reporting quarter and hired 1,203 people to take the total to 4,440 professionals.

About 906 people were recruited for the Digital contact centre business, while 260 engineers were hired for the software service business, it said.

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