B K Birla-promoted Kesoram Industries has recorded a 63.55 per cent dip in net profit to Rs 39.15 crore in the three months ended December 2008, on the back of a sluggish demand in the tyre segment.
Profits from the tyre business for the quarter were at Rs 97.86 lakh, down from Rs 24.30 crore in the same quarter last year. Net sales were at Rs 1,044.63 crore, an increase of 18.15 per cent.
The company’s tyre unit declared suspension of work at its Balasore factory from December 17 till December 31, following a partial shutdown by some of the major automobile manufacturers.
Work was suspended again from January 17 to January 31. The company is envisaging cut in production in the coming months till March 31, 2009.
KSK Energy Ventures net at Rs 3.62 crore
Mumbai: KSK Energy Ventures said its consolidated net profit for the quarter ended December 2008, stood at Rs 3.62 crore. However, the company had a net profit of Rs 87.8 crore for the same quarter last year.
The company posted a total income of Rs 64.60 crore for the quarter under review while it had a total income of Rs 248.4 crore for the same quarter last year. For the nine months ended December 2008, the company posted a consolidated net profit of Rs 63.9 crore while it had Rs 102.4 crore for the same quarter last year.
Shipping Corporation of India net dips 40%
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Mumbai: State-run Shipping Corporation of India (SCI) has said its net profit for the third quarter ended December 31, 2008 declined by 40.36 per cent to Rs 105.43 crore over the corresponding period a year ago.
The shipping services firm had a net profit of Rs 176.78 crore in the third quarter last financial year, SCI said in a filing to the Bombay Stock Exchange. Its total income rose to Rs 1,201.88 crore in the quarter under review from Rs 981.12 crore a year ago.
For the nine-month period ended December 31, 2008 the company registered a net profit of Rs 739.91 crore in the latest quarter, against Rs 565.21 crore a year ago, a growth of 31 per cent. On Friday, shares of SCI closed at Rs 77.30, down 2.15 per cent on BSE.
Avon Corporation Q3 net at Rs 1.73 crore
Mumbai: Avon Corporation, a leading manufacturer and distributor of weighing scales, posted Rs 4.41 crore net profit on a turnover of Rs 52.22 crore for the nine month ended December 2008. The comparative figures are not available as the company was listed in June 2008.
For the third quarter of the current financial year, however, the company reported a net profit of Rs 1.73 crore on an overall sales of Rs 10.52 crore. Avon Corporation is setting up a state of the art manufacturing unit at Baddi, Himachal Pradesh for the manufacture of digital and mechanical weighing balances, kitchen scales.
Chennai Petro net loss at Rs 1,269 cr
Mumbai: Chennai Petroleum Corporation (CPCL) has reported a net loss of Rs 1,269.89 crore in the third quarter of the current financial year. The petrochemical products manufacturing company had a net profit of Rs 225.62 crore in the same quarter a year ago.
Total income of CPCL, a group company of the state-run IndianOil, also declined to Rs 5,639.40 in the December quarter, from Rs 7102.90 crore in the October-December period last year, it said in a filing to the Bombay Stock Exchange.
Divis Lab net dips 20% to Rs 79 crore
Mumbai: Pharmaceutical company Divis Laboratories has reported a 19.71-per cent decline in its consolidated net profit to Rs 79.53 crore for the third quarter ended December 31, 2008.
The company had a net profit of Rs 99.06 crore in the December quarter of FY’08, Divis Laboratories said in a filing to the Bombay Stock Exchange.The total income decreased to Rs 272.42 crore in the quarter under review from Rs 287.08 crore in the corresponding quarter a year ago.