Cognizant, ESS DEE, Alok Inds, Bhushan Steel quarterly results

CORPORATE SCORECARD

Cognizant Tech Q2 profit rises 49%

New Jersey-based Cognizant Technology Solutions Corporation has posted 49 per cent growth in net profit at $82.3 million for the second quarter ended June 30, compared with $55.1 million in the same quarter a year ago, on the back higher revenues driven by growth across business segments. Net profit for the second quarter was up nine per cent sequentially from $75.4 million in the previous quarter. Revenues for the second quarter soared to $516.5 million ($336.8 million), up 53 per cent, and 12 per cent from $460.3 million in the first quarter of 2007. The company surpassed the $2-billion annual revenue run rate during the second quarter.

ESS DEE Aluminium net at Rs 16.29 cr

ESS DEE Aluminium, an end-to-end pharmaceutical packaging solutions provider, has posted a consolidated net profit of Rs 16.29 crore and a stand alone net profit of Rs 13.12 crore for the quarter ended June 30. The company posted consolidated net sales of Rs 74.05 crore and stand alone net sales of Rs 66.25 crore in the quarter. Profit before tax for the quarter was Rs 18.28 crore (consolidated) and Rs 14.71 crore (stand alone). The equity shares of the company were listed on the stock exchanges on December 28, 2006, and hence the comparable financial results for the quarter ended June 30, 2006, were not given. On a paid-up equity share capital of Rs 26.41 crore, the basic and diluted earning per share (EPS) for the quarter worked out to Rs 6.17 (consolidated) and Rs 4.97 (stand alone) on a non-annualised basis. The foil segment's revenues were Rs 57.57 crore, while those from the PVC segment were Rs 8.69 crore.

Alok Inds bottom line doubles

Alok Industries, a vertically integrated textile firm, has posted an increase of 104.31 per cent in net profit at Rs 55 crore for the quarter ended June 30 compared with Rs 26.92 crore in the corresponding previous quarter. Net sales during the period grew to Rs 418.9 crore (Rs 357.86 crore), up 17.06 per cent. Sales growth (including exports) rising 85 per cent to Rs 185 crore (Rs 100 crore) helped the company put a robust show. Realisations in dollar terms was also higher during the period. Despite an appreciating rupee, the company is optimistic about its outlook for the September quarter as well.

Bhushan Steel net up 58%

Bhushan Steel, the country's largest auto grade steel producer, reported a 58 per cent rise in net profit to Rs 98.14 crore (Rs 62.25 crore) for the quarter ended June. The third largest secondary steel producer recorded a 21 per cent rise in turnover which stood at Rs 1,042.74 crore in the quarter under consideration. Earning per share (EPS) on annualised basis increased to Rs 92.44 (Rs 60.08). Neeraj Singal, MD of Bhushan Steel, attributed the excellent performance to the adoption of new technologies, consistency in quality and cost rationalisation measures.