26 firms back in black in Q3

THIRD QUARTER ROUND-UP

Twenty-six companies have turned around in the third quarter after posting net losses in the first two quarters of the current financial year.

Jet Airways, NDTV, IBP, Hindustan Organic, Force Motors, Cable Corporation, SBI Home Finance and Uniflex Cables are among the major companies that have posted a net profit each in the quarter ended December 31, 2006, against net losses in the previous two quarters.

These 26 companies posted an aggregate net profit of Rs 823.80 crore during the quarter compared with a net loss of Rs 557.05 crore in the June quarter and a net loss of Rs 253.98 crore in the second quarter (July-September).

Income from other sources "� mainly profit on sale of investments -- helped these companies return to the black during the quarter. The aggregate other income of these 26 firms zoomed 264 per cent to Rs 183.18 crore in the December 2006 quarter from Rs 50.31 crore in the previous corresponding quarter.

Jet Airways earned Rs 69.25 crore profit on sale and lease-back of aircraft. This helped the airline log a bottom line of Rs 40 crore compared with a net loss Rs 55.13 crore in the second quarter and a net loss of Rs 44.98 crore in the first quarter of this financial year. 
 

TURNING AROUND
(Rs crore)	Net loss		Profit Dec 06
	Jun 06	Sep 06
IBP	-458.7	-166.7	732.4
Jet Airways	-45.0	-55.1	40.0
Force Motors	-10.8	-6.8	12.2
SBI Home Fin	-5.3	-5.4	10.9
NDTV	-10.5	-3.3	10.4
Hindustan Org	-13.8	-9.9	7.0
Cable Corp	-5.9	-0.2	5.2
Aravali Secu	-0.6	-0.3	1.1
Uniflex Cables	-0.1	-0.4	0.8
Wintac	-0.4	-0.1	0.7

IBP clocked a net profit of Rs 732.36 crore against a net loss of Rs 166.68 crore in Q2 and Rs 458.70 crore in Q1 of 2006-07.

The profit for the quarter ended December 2006 came from special oil bonds worth Rs 866 crore to offset under-realisation from the government.

Force Motors managed to be back in the black on logging a profit of Rs 40.34 crore on sale of assets and investments.

The company clocked a net profit of Rs 12.21 crore in the December quarter against a net loss of Rs 6.80 crore in the second quarter and Rs 10.80 crore in the third quarter of 2006-07.

Cable Corporation of India registered a bottom line of Rs 5.15 crore on the back of Rs 14.75 crore profit on sale of investments.

The company reported net losses of Rs 23 lakh and Rs 5.89 crore in the second quarter and in the first quarter, respectively.