Gridco, Guj Ind Power, Hindware results

CORPORATE SCORECARD

Grid Corporation of Orissa (Gridco) has earned a net profit of Rs 349 crore with a total sales turnover of Rs 2844 crore during 2004-05.

"If this trend continues, Gridco can wipe out its accumulated losses soon," chairman and managing director Suresh Mohapatra said. Accumulated losses, which stood at Rs 1,787 crore on April 1, 2003, had been reduced to Rs 1,028 crore in two years.

Gridco had earned a net profit of Rs 411 crore during 2003-04 and presently had the highest turn over among the state public sector undertakings, he said.

Guj Ind Power net dips 25%

Gujarat Industries Power Company reported a 25.29 per cent dip in net profit at Rs 24.22 crore for the quarter ended September 30, 2005, as compared with Rs 32.42 crore in the year-ago period. Total income has decreased 4.64 per cent to Rs 196.17 crore from Rs 205.73 crore in the same period last year.

Hindware net up 93%

Hindustan Sanitaryware has posted an increase of 92.67 per cent in net profit which stood at Rs 10.25 crore for the second quarter ended September 30, 2005, as against Rs 5.32 crore during the corresponding period last fiscal.

Gross sales increased by 35.88 per cent to Rs 99.95 crore from Rs 73.56 crore earned during the same period last year, a company statement said.

Operating profit surged by 55.81 per cent to Rs 19.32 crore as against Rs 12.40 crore earned last year, it said. In the first half of 2005-06, net profit stood at Rs 17.23 crore, an increase by 82.71 per cent from Rs 9.43 crore in the same period last fiscal, the statement added. Gross sales increased by 37.87 per cent to Rs 193.61 crore up from Rs 140.43 crore of last fiscal's first quarter.