Helios, ECL results

Helios & Matheson has reported a growth of 57 per cent in its net profit at Rs 14.27 crore for the quarter ended September 30 as against Rs 9.06 crore in the corresponding quarter of the previous fiscal. Income grew by 80 per cent to Rs 95.20 crore from Rs 52.80 crore.

For the half year ended September 30, the net profit of the company grew by 64 per cent to Rs 27.37 crore as against Rs 16.72 crore in the corresponding period of the previous fiscal. Net sales was Rs 184.12 crore, higher by 80 per cent over Rs 102.47 crore in the same period last year.

According to a company statement, cash and cash equivalents as on September 30 was Rs 141.87 crore. The company's employee strength at the end of the quarter was 1479.

"Cash flows continue to be strong and margins have stabilised due to several proactive measures taken earlier," said G K Muralikrishna, managing director.

In its guidance for the year ending March 31, 2007, the company said that the net profit was projected at about Rs 55 crore and income at about Rs 394 crore.

ECL posts 52% rise in PAT

Electrosteel Castings Ltd (ECL) has recorded a 52 per cent increase in profit after tax to Rs 29.51 crore, cashing in on cost advantage through backward integration. Sales increased by around four per cent for the quarter.

EBIDTA was up 52 per cent to Rs 58.39 crore compared to Rs 38.4 crore. According to company officials, ECL has been able to reap benefits of the increase in direct reduced iron production capacity from two lakh tonne to 2.5 lakh tonne last year and the backward integration in commissioning its coke oven, sponge iron and power plant at its Haldia plant last year.