Era, Himantsingka & Monnet results

CORPORATE SCORECARD

Era Construction net up to Rs 91.47 lakh

Era Constructions posted a 56 per cent rise in net profit at Rs 91.47 lakh for the quarter ended June 30, 2004 as against Rs 58.71 lakh in the same period last year. Income stood higher by 36 per cent at Rs 269.05 lakh (Rs 197.64 lakh).

Himantsingka Seide net dips to Rs 10.12 cr

Himantsingka Seide's net profit for the quarter ended June 2004 fell 11 per cent to Rs 10.12 crore. Total revenues dipped to Rs 32.9 crore (Rs 33.11 crore).

The fall in revenue was attributed to a 52 per cent fall in other income at Rs 1.78 crore (Rs 3.69 crore). Core divisions' sales were up 6 per cent to Rs 31.12 crore.

Operating profit was up 7.8 per cent to Rs 13.14 crore. Fabric sales were up 11 per cent to Rs 26.48 crore, while yarn sales were down 4.65 per cent to Rs 4.64 crore.

Monnet Ispat net zooms to Rs 17.43 cr

Monnet Ispat has reported a 250 per cent jump in its net profit at Rs 17.43 crore for the quarter ended June 30, 2004, from Rs 4.98 crore recorded for the corresponding year-ago period.

Sales increased 105 per cent to Rs 99.03 crore (Rs 48.31 crore), a company release said.

It recorded higher profit and turnover despite the fact that its 100,000 tonne per annum (tpa) capacity of sponge iron was not in production during the first quarter due to repairs and replacement of the equipment.

Welspun India net inches up to Rs 6.2 cr

Welspun India, a part of the Rs 2000-crore Welspun group, has reported a 3.9 per cent rise in net profit for the quarter ended June 30, 2004 at Rs 6.20 crore as compared with Rs 5.96 crore in the comparable period last year. Total income rose 10 per cent to Rs 82.09 crore (Rs 73.87 crore). Profit before tax went up by 37 per cent to Rs 11.51 crore (Rs 8.39 crore).

A press release issued by the company said continued buoyancy in demand from the international market and improved efficiencies of internal resources propelled the company's top line and bottomline growth during the quarter.

The company's expansion programme for doubling its terry towel capacity, setting up cotton spinning unit at Anjar in Gujarat is as per schedule.

Vice chairman and managing director B K Goenka said: "Consistency in quality and timely delivery has paved the way for company's continued success which will stand in good stead post abolition in quotas post December 2004."