Bombay Dyeing and Manufacturing Company, part of the Wadia group, has posted a net loss of Rs 57.80 crore for the quarter ended December 2008, compared with the net loss of Rs 37.01 crore in the corresponding previous quarter.
During the period, the net sales of the company grew to Rs 319.84 crore from Rs 291.60 crore last year, up 9.34 per cent. The company, which has diversified into real estate, so far in FY09, has registered a loss of Rs 210 crore — over 42 times more than the loss incurred by the company in the corresponding period last year.
Poor performance of the textiles and polyester businesses of the company dented its quarterly numbers. The textile business of the company registered a net loss of Rs 26.19 crore in the December quarter against Rs 3.72 crore whereas the sales in textiles too dipped by Rs 67.90 crore from Rs 98.26 crore, down 30.9 per cent.
Only the real estate segment of the company managed to register profits at Rs 45.71 crore compared with Rs 29.99 crore in December quarter, up 52.42 per cent.
BEML net profit flat at Rs 58.7 crore
Bangalore: BEML, the defence ministry undertaking engaged in the manufacture of construction equipment and defence products, today reported that its net profit remained stagnant at Rs 58.74 crore for the third quarter ended December 31, 2008, compared with Rs 59.24 crore reported in the corresponding quarter last financial year. Its net sales were marginally up by 1.7 per cent to Rs 632.8 crore during the quarter compared to the year-ago period.
The company's top line growth would have been much lower but for the massive rise in its other income, which grew by 2.5 times to Rs 47.48 crore during the quarter as against the year ago period. The company has written back a little over Rs 9 crore from earlier provisions for various expenses.
Titan Ind reports 61.8% drop in Q3 net
Bangalore: Titan Industries Limited, the watch and jewellery arm of Tata Group, today reported a 61.8 per cent drop in its net profit at Rs 11.77 crore for the third quarter ended December 31, 2008 compared to the corresponding quarter last fiscal. Its net sales for the quarter were up 27 per cent to Rs 1,023.8 crore compared to the same quarter last fiscal. The drop in net profit is due to a provision of Rs 17.5 crore towards I-T and interest thereon for earlier years.
Gillette Q2 bottom line dips to Rs 27 cr
Mumbai: Due to the weakening of the rupee and higher investment on advertising and sales promotion expenses in the quarter, FMCG player Gillette recorded a dip in its consolidated net profit of Rs 27 crore for the second quarter ended December 31, 2008 — a 12 per cent decline over the Rs 31 crore in the year-ago period.
Rajesh Exports profit records 72% drop
Bangalore: The demand for jewellery products seems to have lost its shine due to the current global economic scenario, which has been reflected in the third quarter financial performance of Bangalore based jewellery manufacturer and exporters Rajesh Exports.
The company which has also huge exposure to exports, reported a 72 per cent drop in its net profit to Rs 17 crore in the quarter ended December 31, 2008, as compared to the corresponding quarter in the previous financial year. The revenue of the company went up by 32 per cent to Rs 2,732.3 crore when compared with the same quarter in the previous fiscal.
Colgate Q3 net profit rises 28% to Rs 78 cr
Mumbai: FMCG player Colgate-Palmolive recorded a net profit growth of Rs 78 crore for the third quarter ending December 31, 2008 — a 28 per cent rise over the Rs 61 crore for the corresponding quarter in the previous year.
The stock price was consistent with 0.83 per cent upwards movement at Rs 423.25 on the BSE.
The revenue of the group which has leadership position at 49.6 per cent market share (January-December 2008) in the toothpaste category with brands like Colgate Dental Cream touched Rs 419 crore as compared to Rs 367 crore for the same quarter a year ago.
The Toothbrush category market share saw an increase of 2.8 per cent taking Colgate’s share to 38 per cent in January–December.
P&G Health net flat at Rs 47 crore
Mumbai: FMCG player Procter & Gamble Hygiene and Health Care (PGHH) recorded a net profit (consolidated) of Rs 47 crore for the third quarter ended December 31, 2008 — a 2 per cent rise over Rs 46 crore recorded in the corresponding quarter of the previous year.
MTNL net dips 38% to Rs 58.28 crore
New Delhi: State-owned telecom operator Mahanagar Telephone Nigam (MTNL) has posted a 38 per cent dip in profit to Rs 58.28 crore for the quarter ended December 31, 2008 as against Rs 94.19 crore y-o-y. The company’s total income has increased by 6 per cent from Rs 1,322.44 crore for the quarter ended December 31, 2007, to Rs 1,404.45 crore for the quarter ended December 31, 2008.
