| Himatsingka Seide has reported a 13 per cent dip in its net profit to Rs 11.7 crore for the third quarter of FY05 from Rs 13.4 crore net posted during Q3 of FY04. |
| The company has stated that this decline is owing to lower other income which was down by 61 per cent to Rs 1.4 crore compared with Rs 3.6 crore. |
| This is because the company did not realise the gain of Rs 1.4 crore, which was appreciation in the value of the investments held as on December 31, 2004. |
| However, the turnover grew by 7 per cent to Rs 39.2 crore for Q3 FY05 compared with Rs 36.5 crore in the corresponding period of previous year. |
| On a sequential quarter basis, the company has posted a 2 per cent growth in net profit to Rs 11.7 crore for Q3FY05 from Rs 11.5 crore reported during second quarter of FY05. Overall sales is up 13 per cent to Rs 39.2 crore during Q3 FY05 from Rs 34.3 crore in Q2 2004-05. |
| Himatsingka has added that its order book for its core fabric business showed a considerable increase and order in hand at the end of Q3 FY05 was higher by 20 per cent on year-on-year basis. |
| Indo Gulf Fertilisers net down 23% |
| Indo Gulf Fertilisers has reported a 22.72 per cent decline in its net profit at Rs 17.85 crore for the quarter ended December 31, 2004, compared with Rs 23.10 crore recorded for the corresponding period of the previous year. |
| The company's posted a 15.8 per cent jump in net sales for the quarter at Rs 173.73 crore against net sales of Rs 149.98 crore, reported in the corresponding period of the previous year. |
| The company said in a statement, "Higher cost of production owing to an increase in packaging costs and reduction in group concession rate by Rs 120 a tonne for stage-II of the Urea Pricing Policy have impacted profitability." |
| The company produced 2.42 lakh tonne of urea with a capacity utilisation of 100 per cent. "The overall demand for urea during Rabi 04-05 season has been good and an increasing awareness among the farming community is expected to result into a higher demand for fertilisers," the release said. |
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