Arvind Mills, BPCL, Colgate results

Arvind Mills has reported a sharp decline of 85.08 per cent in net profit to Rs 5.55 crore for the quarter ended September 30, 2006 against Rs 37.19 crore in the corresponding period last year.

The sales of the integrated textile company fell 8.14 per cent to Rs 393.21 crore for the quarter compared with Rs 428.04 crore last year. Its operating profit declined 28.14 per cent to Rs 81.83 crore from Rs 113.87 crore for the previous corresponding period.

Arvind's earnings per share for the quarter dropped to less than a rupee at Rs 0.22 from Rs 1.74. "The earnings of the company continue to be impacted by the severe conditions in the denim market.

Though the diversification and downstream businesses have provided a cushion, they have not grown enough to mitigate the downturn," said Jayesh Shah, chief financial officer and director.

BPCL in the black with Rs 1,285 cr net

Bharat Petroleum (BPCL) is back in the black with the oil bonds issued by the government and higher sales during the quarter ended September 30.

The company on Tuesday announced a net profit of Rs 1,285.5 crore for the quarter compared with a net loss of Rs 13.2 crore in the corresponding quarter last year. Of this, the share of oil bonds issued by the Union government is Rs 1,219 crore, which has been shown as accruals for this quarter.

The company also showed an impressive 66 per cent growth in gross sales figures, which went up from Rs 17,265.1 crore in FY06 to Rs 28,832.2 crore in FY07. BPCL reported a gross refining margin (GRM) of $1.5 for the quarter against a GRM of $1.67 for the same quarter last year.

Colgate net down 25% at Rs 23 crore

Colgate on Tuesday announced a net profit of Rs 23.18 crore for the quarter ended September 30, 2006, 24.93 per cent lower as compared with Rs 30.88 crore for the corresponding quarter last year.

Net sales for the quarter were Rs 320 crore, 15.05 per cent higher as compared with Rs 278.12 crore last year.

The expenditure includes Rs 58.8 crore pre-tax and Rs 39 crore post-tax on account of the voluntary retirement scheme implemented at the manufacturing unit in Sewri, as a result of which the net profit for the quarter is lower.