Carborundum Universal, a part of the $2 billion Chennai-based Murugappa Group, reported a 47 per cent increase in profit after tax (PAT) to Rs 25 crore for the fourth quarter ended March 2008, from Rs 17 crore for the same period last year. The profit before tax (PBT) rose by 39 per cent from Rs 23 crore to Rs 32 crore during the same period.
Net sales increased by 27 per cent to Rs 165 crore in 2007-08 from Rs 130 crore for the same period last year. Profit before interest and tax (before profit on sale of assets and investments) rose by 12 per cent. Corborundum earned Rs 11 crore on the sale of investments during the quarter. The PAT increased from Rs 17 crore to Rs 25 crore in 2007-08.
The net sales for the year 2007-08 increased by 26 per cent. Domestic net sales grew by 21 per cent from Rs 394 crore to Rs 479 crore (excluding anticorrosives). Export sales were impacted by the unexpected and sharp appreciation in the rupee. Exports (excluding anticorrosives) increased from Rs 71 crore to Rs 82 crore, a growth of 16 per cent.
The operating PBT dropped to Rs 76 crore from Rs 78 crore in the previous year.
MphasiS Q4 net up 14%
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With strong growth in revenues from the US and Europe and the addition of new clients, IT services company MphasiS, a part of the EDS group, has reported a 14 per cent increase in net profit to Rs 71 crore for the fourth quarter ended 31 March, 2008, as compared with the corresponding quarter in the previous financial year. In the quarter under review, the company's revenues grew by 31 per cent to Rs 658 crore as compared with the quarter in FY07.
Jeya Kumar, CEO, MphasiS said, "This financial has been one of change and transformation. With EDS as a strong business partner, the company has been building a solid foundation for development of capability and capacity."
For the full year, the MphasiS group recorded revenue of Rs 2,423 crore, an increase of 38 per cent over the previous year. The net profit for the year rose 42 per cent to Rs 255 crore when compared with FY07. The company has recommended a final dividend of Rs 3.30 a share. The company added 17 new clients during the quarter.
Moser Baer reports net loss of Rs 71 cr
Optical disc manufacturer Moser Baer reported a net loss of Rs 71.7 crore for the fourth quarter ended March 31, 2008 against a net profit of Rs 39.7 crore for the corresponding quarter last financial year. The management attributed this loss to low pricing strategy and flat sales volume.
The revenue dipped by 12.6 per cent to Rs 475.7 crore from Rs 544.8 crore for the same quarter ended March 31, 2007.
On a sequential basis, the company reported a net profit of Rs 20.45 crore and revenue of Rs 534.8 crore for the quarter ended December 31, 2007.
The rising rupee and worsening industry environment impacted the company's full year results. Moser Baer reported net loss of Rs 79.2 crore for the year ended March 31, 2008 from a profit of Rs 109.7 crore for the year ended March 31, 2007. Revenue slipped by 41.7 per cent from Rs 1982.4 crore at the end of March 31, 2007 to Rs 1,899.7 registered for FY2008.
Yogesh Mathur, Group CFO, Moser Baer India, said, "The production in Blank Optical Media was disrupted mid-year due to problems in our power plant. The issue is fully resolved and capacity optimisation will be achieved in the coming quarters. The turnover during the year was also impacted by the strengthening rupee and the difficult industry environment."
The company said the entertainment business achieved net breakeven point within 12 months and the photo voltaic (PV) business could also build traction.
The entertainment business achieved revenues of $10 million (around Rs 40 crore) in the fourth quarter of FY08, while the wholly owned photo voltaic subsidiary achieved $20 million (Rs 80 crore) in revenues for the same period.
Ratul Puri, executive director, Moser Baer India, "Our new businesses are growing steadily and are poised to scale up rapidly. We have already emerged as the largest player in the home video segment that is expected to provide revenues of $200 million by 2010. The PV business is set for an explosive growth as we execute capacity expansion in a supply-constrained industry. We aim to be one of the leading players in the world."