Bajaj Allianz posts Rs 63 cr profitBajaj Allianz Life Insurance has declared a profit of Rs 63 crore FY 06-07 and is targeting a breakeven in the first half of 2008-09. Excluding participating funds profit, the profit stands at Rs 54 crore.The company has collected Rs 4270 crore of new business premium. The insurer issued over 2 million (20,79,217) policies in this year - highest amongst all private sector players. The company has 2,13,000 agents, 900 offices in 840 towns, 200 corporate agents and bancassurance partners.MRPL in the blackMangalore Refinery and Petrochemicals, a subsidiary of Oil and Natural Gas Corporation (ONGC), has reported a profit after tax of Rs 181.88 crore for the fourth quarter ended March 31, 2007, against a loss of Rs 29.5 crore incurred in the corresponding quarter last year.Company sources said that while Mangalore Refinery and Petrochemicals had to give discounts on sales of their products in the domestic market, in conjunction with the other state-owned oil companies, this year the discounts were done away.Better inventory valuation and improved refining margins have also added to the profits. Net sales increased 6 per cent during the quarter to Rs 6,797.92 crore compared with Rs 6,391.99 crore in the corresponding quarter last year.During the year ended March 31, 2007, Mangalore Refinery and Petrochemicals reported 41 per cent increase in profit after tax to Rs 525 crore compared with Rs 372 crore last year. Net sales during this period went up 15 per cent to Rs 28,633.14 crore from Rs 24,967.54 crore at the end of 2005-06. The company attributed this to higher refinery capacity utilisation and a 3 per cent increase in throughput.TRF net up 185%Tata Steel promoted TRF, has recorded an increase of 185 per cent to Rs 20.17 crore for the year ended March 31, 2007, on the back of major material handling projects across the country for utility sector customers. Profit before tax increased 164 per cent to Rs 30.57 crore.
