Speciality steel and wire rope manufacturer Usha Martin has recorded a consolidated profit after tax of Rs 32.53 crore for the quarter ended September 30, 2009, a drop of 37.9 per cent over the same period last year, primarily on the back of lower steel prices. Net sales of Rs 669.98 crore during the quarter was a drop by 17 per cent over the same period last year. Both domestic and export sales declined. With the commissioning of its Rs 2,100 crore investment in new facilities, the company is geared for growth, according to the management.
Eveready PAT up 674 per cent
Brij Mohan Khaitan's Eveready Industries India has recorded a profit after tax of Rs 17.54 crore in the quarter ended September 30, 2009, an increase of 674 per cent over the same period last year, led by higher sales and margins. Net sales at Rs 263 crore was higher by 20 per cent.Price of zinc, a key input material, was softer in the current quarter as compared to the second quarter of the previous year. However, the gain was eroded on account of a weak currency. Battery volumes registered a growth of seven per cent while flashlights segment grew by 16 per cent in volumes. The company expects flashlights to bring in significant revenues and profitability.
BOC records Rs 12.54 crore net profit
BOC India has recorded a net profit of Rs 12.54 crore in the quarter ended September 30, 2009 a dip of 42.66 per cent from Rs 21.87 crore in the corresponding quarter of the previous year. The company said that the dip in net profit was notional and on account of an exceptional charge of Rs 11.68 crore, pending the adoption of Accounting Standard (AS) 30 on financial instruments. Profits before interested and exceptional items was at Rs 29.63 crore compared to Rs 12.90 crore in the same period last year. Profit after interest but before exceptional items during the quarter, which included no interest income due to full utilization of the preferential issue proceeds of Rs 597.30 crore, was at Rs 30.31 crore. The company had earned an interest income of Rs 6.45 crore in the third quarter of 2008 from preferential issue proceeds. Net sales stood at Rs 214.49 crore for the quarter, an increase of 61 per cent.