IOC second quarter net zooms 440%
Indian Oil Corporation (IOC) has posted a 440 per cent increase in net profit at Rs 2,513 crore for the second quarter ended September 2002 as compared with Rs 465 crore in the corresponding period last year. The oil major reported a net profit of Rs 3,139 crore during April-September 2002 as compared with Rs 1,019 crore during the corresponding period last year. The turnover of the oil major for the half-year ended September 2002 was marginally lower at Rs 56,663 crore as compared with Rs 59,376 crore for the same period last year, mainly due to lower crude sales to other marketing companies, a company release said.
Tata Engg posts Rs 58.8 cr net in Q2
Tata Engineering has posted a net profit of Rs 58.8 crore for the second quarter of this fiscal, against a loss of Rs 61.83 crore in the same quarter last fiscal. Net sales rose 25.37 per cent at Rs 2,575.72 crore (Rs 2,054.48 crore). The net profit was despite a provision of Rs 43.51 crore towards deferred tax during the quarter. Its EBIDTA margins have also risen to 12.1 per cent, a 14-quarter high against that of just 8.4 per cent during Q2 of FY02. Collective losses of the company