Aditya Birla Nuvo net loss at Rs 156 crore

Aditya Birla Nuvo, a diversified company of the Aditya Birla group, has posted a consolidated net loss of Rs 156.40 crore for the quarter ended December 2008, compared with the net profit of Rs 30.2 crore in the previous corresponding quarter. The company’s consolidated net sales during the period grew to Rs 3,429 crore against Rs 2,931.1 crore last year, up 17 per cent.The company has its exposure in businesses like telecom, textiles, BPO, branded garments, carbon black and life insurance. On a standalone basis, the company’s net profit for the December quarter took a dip of 95.12 per cent to Rs 4.1 crore against Rs 84 crore in the previous corresponding quarter. 

Bhel net up 2.4 per cent

Bharat Heavy Electricals (Bhel), India’s largest power equipment manufacturer, posted a marginal 2.4 per cent increase in net profit for the quarter ended December 2008. Net profit rose to Rs 790.56 crore for the quarter, compared to Rs 771.90 crore posted in the corresponding previous quarter. “The marginal increase in profit is because of accommodating a wage revision of Rs 1,300 crore (40 per cent) for the current year and increased cost of raw materials in the June-August quarter,” said K Ravi Kumar, chairman and managing director of the company.

Tata Power registers drop in net profit

Tata Power Company (TPC), India’s largest private power company, has posted 101.08 crore net profit for the third quarter as against Rs 197.28 crore in the same period last year. The revenue has shot up 25.18 per cent to Rs 1,776.87 crore after rise in volume of power sold. The third quarter profit is not comparable with the same period last year as the company introduced new accounting pattern from the beginning of current financial year. In the third quarter of last financial year, the company has gained additional profits because the power purchased from outside was lower. The additional profit gain had been shared with the consumers in the last quarter of the last financial year. From the current financial year, provisional gains and losses have been estimated on quarterly basis.