Early results set scorching pace

No of firms (105)

Quarter ended (Rs Crore)

Jun-03

Jun-04

% Chg

Sales

11,576.03

18,080.47

56.19

Other income

144.00

121.25

-15.80

Operating profit

1,661.10

2,075.34

24.94

Interest

176.62

146.45

-17.08

Gross profit

1,484.48

1,928.89

29.94

Depreciation

342.51

349.83

2.14

Tax

270.64

383.91

41.85

Net profit

866.07

1,161.94

34.16

OPM (%)

14.35

11.48

-

GPM (%)

12.82

10.67

-

NPM (%)

7.48

6.43

-

 The aggregate net profit of the early birds increased 34 per cent, from Rs 866 crore in April-June 2003 to Rs 1,162 crore in the quarter ended June 2004. Sales zoomed 56 per cent from Rs 11,576 crore to Rs 18,080 crore over the same period.  However, the growth in sales was largely driven by MMTC, which reported a 230 per cent rise in trading activity in the quarter ended June 2004. If MMTC is excluded, the sales growth rate comes down to an earthy 35 per cent.  Of the 104 companies, excluding MMTC, 38 posted more than 34 per cent growth in net profit, while seven reduced their losses during the quarter.  Sector-wise, cement, sugar and a few frontline technology companies posted handsome growth in their bottom lines, while fertlisers, hotel and steel companies reported a turnaround.  Infosys Technologies posted a 42 per cent increase in net profit to Rs 394.47 crore, against Rs 278.12 crore during the same quarter last year.  The net profit of Shree Cement increased more than six-fold, from Rs 4.24 crore in April-June 2003 to Rs 25.93 crore in the first quarter of 2004-05.  Hero Honda Motors reported a 20 per cent rise in its net profit, from Rs 157.82 crore to Rs 190.07 crore, while Kochi Refineries