Amara Raja, Nava Bharat, Goldstone quarterly results

CORPORATE SCORECARD

Amara Raja posts Rs 17.91 cr net

Amara Raja Batteries has posted a net profit of Rs 17.91 crore for the first quarter, up 90 per cent, compared with Rs 9.42 crore in the corresponding quarter a year ago, on the back of robust growth in net sales and operating income. For the quarter ended June 30, net sales of the company rose 72 per cent to Rs 214.59 crore compared with Rs 124.93 crore in the previous comparable quarter. Operating profit of the company was up 88 per cent to Rs 34.85 crore from Rs 18.57 crore in the same period previous fiscal. Profit before tax stood at Rs 27.46 crore against Rs 14.45 crore. Buoyant growth in automotive, telecom and UPS segments have driven the growth of the company in the first quarter.

Nava Bharat net soars 69%

Nava Bharat Ventures, a Hyderabad-based company with diversified interests in power generation, ferro alloys, and sugar, witnessed over 69 per cent increase in net profit at Rs 57.97 crore for the quarter ended June 30, 2007, compared with Rs 34.18 crore during the corresponding quarter last year. The company attributed the rise to continued good performance in the power business and over 90 per cent increase in its ferro alloy revenues. The power business grew nearly 41 per cent to Rs 90.2 crore during the quarter, compared with Rs 64 crore during the same period a year ago.

Goldstone net jumps 296%

Goldstone Teleservices Limited (GTSL), a Hyderabad-based telecom accessories and power distribution products manufacturer, recorded a net profit of Rs 2.01 crore for the quarter ended June 30, 2007, compared with Rs 50.52 lakh in the corresponding quarter last year, reflecting a growth of 296 per cent. Turnover increased 127 per cent to Rs 13.57 crore in the first quarter, from Rs 5.97 crore in same period last year. The company's board has recommended a dividend of 10 per cent for the financial year 2006-07. Growing demand for high-performance silicon rubber polymer insulators (composite insulators) for application in distribution and transmission power systems emerged as a key driver of growth. Contracts worth Rs 2.78 crore from a multinational company for supply of composite insulators, and a Rs 2.49 crore contract from the Indian Railways too resulted in significant growth in turnover during the quarter, Surender Nath, executive vice-president of GTSL, said.