| Varun Shipping posted 93.68 per cent growth in net profit at Rs 57.99 crore in the quarter ended March 2006 compared with Rs 29.94 crore recorded in the corresponding quarter of the previous year. |
| Net sales went up 70.90 per cent at Rs 190.35 crore as compared with Rs 110.09 crore last year. |
| Net sales for the full year ended March 2006 stood at Rs 642.93 crore as compared with Rs 388.96 for the year ended March 2005, higher by 65.29. |
| Net profit stood at Rs 180.89 crore, 121.43 per cent higher as compared with Rs 81.69 crore for the year ended March 2005. |
| The company has recommended final dividend of 15 per cent for the current year in addition to the two interim dividend of 15 per cent each paid earlier. |
| The total dividend for the year is 45 per cent as compared with 30 per cent last year. |
| Infotech net up 86% |
| Infotech Enterprises registered 86 per cent increase in net profit at Rs 16.6 crore for the fourth quarter ended March 2006 as compared with Rs 8.92 crore in the corresponding quarter of FY05. |
| Operating revenues increased by 65.4 per cent to Rs 107.8 crore from Rs 65.17 crore. For the first time, the company's quarterly revenues exceeded Rs 100 crore. |
| The company registered 27.2 per cent growth in net profit at Rs 28.38 crore in FY06 from Rs 22.31 crore in FY05. Operating revenues increased by 38.9 per cent at Rs 213.69 crore as compared with Rs 153.8 crore last year. |
| On a consolidated basis, the company has announced 84 per cent growth in net profit to Rs 50.32 crore for the financial year ended March 2006 from Rs 27.37 crore last year. Its operating revenues increased by 41 per cent to Rs 362.5 crore from Rs 257.13 crore. |
| Earnings per share for the year stood at Rs 33.3. The company has recommended a stock split wherein every share of Rs 10 each will be sub-divided into two shares of Rs 5 each, to "increase the float in the marketplace". |
| It has also recommended a bonus of one share for every two shares held by an individual. A dividend of 22.5 per cent (pre-bonus and pre-split) has been recommended. |
| Addressing mediapersons, B V R Mohan Reddy, chairman and managing director of Infotech Enterprises, said, "The global market for geographic information systems and engineering services is showing strong upward growth. We will, therefore, continue with the growth momentum that we registered earlier, in FY07 as well. We are likely to have net additions of 1,400 people this year, taking our global manpower strength to 5,300 by year-end." |
| PSI Data back in the black |
| PSI Data Systems, the IT solutions business of the Aditya Birla group, has posted net profit of Rs 1.54 crore on a consolidated basis during the fourth quarter ended March 2006, compared with a net loss of Rs 37.43 lakh recorded during the same period of last year. |
| Total revenues stood at Rs 25.48 crore during the period under review, up from Rs 19.84 crore recorded in the year-ago period. |
| The company posted net profit of Rs 1.35 crore for the financial year ended March 2006, compared with net loss of Rs 2.56 crore recorded during the previous financial year. It has posted Rs 85.80 crore in revenues and an EBITDA of Rs 5.8 crore during the year under review, PSI said in a release. |
| "PSI Data is an important element in Aditya Birla Nuvo's mix of growth and value businesses. The company's return to profits is heartening and surely a prelude to even stronger performance in the coming years," PSI Data Systems director and Aditya Birla Nuvo managing director Sanjeev Aga said. |
| The Aditya Birla group currently holds 71 per cent stake in PSI Data Systems. |
| The company closed 2005-06 with an offshore-onsite ratio of 52:48. Its offshore component moved significantly from 33 per cent at the beginning of the year to 52 per cent at the end of the year. |
| Its employee headcount grew by 25 per cent and closed the year with 573 people on board. PSI added 11 new clients during the FY06. |
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