Asian Paints, S Kumars, Sutlej, IFGL quarterly results

Asian Paints has reported a net profit of Rs 71.15 crore for the quarter ended March 31, 2007, compared with Rs 20.25 crore for the corresponding quarter in 2006, a rise of 250.86 per cent. The net sales for the quarter amounted to Rs 727.02 crore, compared with Rs 584.48 crore in the corresponding quarter last year, a rise of 24.38 per cent. The company also announced its results for 2006-07. It posted a net profit of Rs 272.04 crore for the year, 45.64 per cent higher than Rs 186.78 crore in 2005-06.

S Kumars PAT up 66% to Rs 38 crore

S Kumars Nationwide (SKNL), a diversified multi-segment textile company, has posted an increase of 66.43 per cent in its profit after tax (PAT) at Rs 37.88 crore for the quarter ended March 31, compared with Rs 22.76 crore in the corresponding quarter in the previous year. Its net sales grew to Rs 371.66 crore during the period from Rs 247.89 crore last year.

Sutlej net profit down 48 per cent

Sutlej Textiles & Industries said lower export earnings pulled down the January-March net profit by 48 per cent and put profit margins under pressure due to the strong rupee. The company, however, expects a revival in the coming quarters due to inherent competitiveness of Indian textiles and resurgence in international markets by the end of August, Sutlej Textiles vice chairman, Chandra Shekhar Nopany, told reporters on Thursday. Exports contribute more than a fifth of the company's revenues.

IFGL net up 41%

IFGL Refractories has recorded a 41 per cent increase in profit after tax to Rs 26.24 crore on a consolidated basis for the year ended March 2007 as total income rose 40 per cent to Rs323.89 crore. The earnings per share is higher at Rs7.58 for 2006-07 against Rs 5.37 in the previous year. The directors have recommended 17.5 per cent dividend, that is Rs1.75 per share which will claim about Rs 7 crore, including dividend distribution tax.