Gayatri Sugars, MRF, Mastek & PNB Gilts Q1 results

CORPORATE SCORECARD

Gayatri Sugars has posted a net profit of Rs 10.21 lakh during the quarter ended June 30, 2005 against a net loss of Rs 17.5 crore incurred during the corresponding period of the previous year.

Income from sales stood at Rs 23.34 crore compared with Rs 16.90 crore in the first quarter of the previous year, representing a growth of 38 per cent.

MRF Q3 net down 1.22%

MRF announced a net profit of Rs 16.88 crore for the third quarter of 2004-05, lower by 1.22 per cent compared with the year-ago period's Rs 17.09 crore (MRF's financial year runs from October to September).

The company's governing board has declared an interim dividend of 30 per cent on equity shares (each with a face value of Rs 10) for 2004-05.

Net sales for the third quarter was Rs 795.12 crore, higher by 21.16 per cent compared with the year-ago period's Rs 656.22 crore.

MRF's net profit was adversely impacted by a significant increase in cost of raw material, some of which are derived from petroleum products.

Raw material costs in the third quarter increased by about 30 per cent to Rs 558.67 crore (Rs 431.20 crore).

Mastek net up 83%

IT outsourcing major Mastek has posted a 83.84 per cent increase in net profit at Rs 12.63 crore in the fourth quarter ended June 30, 2005 compared with Rs 6.87 crore registered during the same period of previous fiscal.

Total income for the quarter rose to Rs 85.63 crore, up from Rs 37.96 crore recorded during the same period of the previous fiscal, chairman Ashank Desai said in a press conference on Thursday.

For the 12 months ended June 30, the IT major posted a net profit of Rs 47.37 crore against Rs 12.25 crore registered during the same period a year ago.

Total income during the year under review rose to Rs 263.63 crore from Rs 123.83 crore recorded during the comparative period of previous fiscal.

However, the figures for the quarter are not comparable with that of the corresponding quarter, as Mastek had changed its business model for UK operations.

The company had directly executed onsite projects in UK, which were earlier executed by its subsidiary.

PNB Gilts back in black

PNB Gilts reported a turnaround in performance with a net profit of Rs 16.52 crore in the first quarter of the financial year against a loss of Rs 83.64 crore in the corresponding period last year.

In 2004-05, the company had reported a loss of Rs 68.25 crore. Total income in April-June 2005 was Rs 39.46 crore. Income from operations has increased and diversification efforts have resulted in other income going up to Rs 6.06 crore against Rs 0.43 crore in Q1 last year, it added.

This was despite the fact that the market was volatile during the quarter, with yield on 10-year benchmark touching a high of 7.38 per cent in April compared with 6.67 per cent on March 31, 2005.