| Noida Toll Bridge Company reported a 42.5 per cent drop in its net loss to Rs 2.69 crore during July-September 2005, compared with Rs 4.59 crore during the corresponding period last year. |
| Income went up by 33.19 per cent to Rs 9.88 crore during the second quarter of the current financial year against Rs 7.41 crore during the July-September last year. |
| During the first-half ended September 30, 2005, Noida Toll Bridge's loss went fell 35.36 per cent to Rs 6.34 crore compared with Rs 9.85 crore registered during April-September, 2004. |
| Income earned during first six months of the current year increased by 32.8 per cent to Rs 18.92 crore over Rs 14.24 crore earned during the corresponding period last year. |
| Varun Ship net up 104% |
| The Mumbai-based shipping company Varun Shipping Company has reported 104 per cent rise in net profit at Rs 43.37 crore for the quarter ended September 30, 2005 against Rs 21.19 crore for the corresponding quarter in the previous year. |
| Revenue from operations for the quarter was at Rs 146.11 crore compared with Rs 95.21 crore for the corresponding quarter in the previous year. The company has declared interim dividend of 15 per cent for the current financial year ending 31 March, 2006. |
| Varun Shipping has registered 146 per cent rise in net profit at Rs 70.18 crore for the six months ended 30 September, 2005 against Rs 28.48 crore for the corresponding period in the previous year. Revenue from operations for the six months was at Rs 263.49 crore compared with Rs 175.06 crore for the corresponding six months in the previous year. |
| "The increase in profit is owing to continuing buoyancy in freight rates in LPG sector and addition of new ships in company's fleet. The company has major exposure in LPG sector and LPG freight rates are expected to harden further in coming weeks," managing director Yudhishthir Khatau said. |
| He said the company, along with its subsidiary, was planning an investment of around Rs 1,000 crore in the current financial year. With acquisition of two ships in next few weeks, the group would have completed the first phase of its expansion programme within eight months, Khatau said. |
| Meanwhile, the company along with Exmar Group of Belgium and Indian Oil Corporation have jointly submitted a bid for one LNG tanker against a tender floated by Petronet LNG. |
| "If the bid is accepted, the partners will jointly float a new company in India to implement the project and operate the LNG tanker on a long term charter for a period of 25 years for Petronet LNG Ltd," he said. |
| Welspun net up 54% |
| Welspun India has witnessed a 54 per cent rise in its profits after deductions in the half yearly period from April to September 2005, touching Rs 234.48 million compared with Rs 152.55 million in the corresponding period last year. |
| The company's turnover rose by 37 per cent registering a net sales of Rs 2942.34 million compared with 2141.19 million last year. The company's Rs 5750 million expansion-phase I has been successfully commissioned during the quarter as well. |
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