A sluggish growth of 4 per cent in 2- and 3-wheelers sales during the second quarter and a voluntary retirement scheme (VRS) provision of Rs 61.10 crore pulled down the net profit of Bajaj Auto by 22.50 per cent.
The company recorded a net profit of Rs 184.91 crore in the second quarter ended September 2008 as against Rs 238.60 crore recorded in the corresponding previous quarter. It had made a special VRS provision for its Akurdi plant employees.
Sterlite profit rises 19% on metals demand
Mumbai: Sterlite Industries (India), the nation’s largest copper producer, said profit rose 19 per cent, aided by higher demand for metals and an increase in income from sources other than its main operations.
Net income, including that of units, climbed to Rs 1,280 crore in the three months ended September 30 from Rs 1,080 crore a year earlier, the Mumbai-based company said today in a statement. Sales were little changed at Rs 6,600 crore.
