Bangalore-based food products company, Britannia Industries (BIL), reported a net profit of Rs 46.1 crore for the third quarter ended December 2008, compared to Rs 45.3 crore in the corresponding previous quarter. Overall expenses went up by 26 per cent to Rs 761.2 crore, compared to the same quarter last financial year. Sales for the period went up by 24.8 per cent to Rs 828 crore. The operating profit for the third quarter rose by 15 per cent to Rs 58.8 crore as against the same quarter last year. The company’s sales were driven by a healthy blend of volume, mix and price, the company said in a release. Higher operational expenses like rise in cost of raw materials impacted the company’s net profit growth.
Lupin posts 36% dip in net profit
Pharmaceutical major Lupin posted a consolidated net profit of Rs 116.50 crore for the third quarter ended December 2008, compared to Rs 180.86 crore for the same quarter last financial year, down 35.58 per cent. A 48 per cent jump in global sales helped revenues of the company rise to Rs971.9 crore, 32 per cent higher than the Rs738.1 crore in the corresponding period last year. “Overall we should grow by at least 25 per cent next year, especially in the US market where we have an overall 8 first-to-file future opportunities. Europe will be another major market where we will consolidate in future,” Kamal K Sharma, managing director of Lupin told Business Standard.
Subex net loss at Rs 15.7 crore
Communications products and services vendor Subex saw its net loss widening to Rs 15.74 crore during the third quarter ended December 2008, from Rs 4.27 crore in the corresponding quarter of FY08. Net sales of the company increased 13 per cent to Rs 160.68 crore from Rs 142.21 crore a year earlier. Revenues from product sales comprised 80 per cent of the topline at Rs 127.90 crore, growing 15 per cent from Rs 111.25 crore in the comparable period of the previous year.