Essar Shipping, Indal, JB Chemicals results

CORPORATE SCORECARD

Essar Shipping bottomline edges up to Rs 30.37 cr
Essar Shipping has recorded a marginal increase in its net profit at Rs 30.37 crore for the quarter ended June 2004 compared with Rs 30.26 crore for the corresponding period of the previous fiscal. Total income rose 38.3 per cent to Rs 193.82 crore (Rs 140.15 crore).

The net profit remained flat "mainly on account of higher number of vessels on drydock during the quarter, higher drydock expenditure and reduced available earnings days. The drydock expenditure for the quarter stood at Rs 20.05 crore (Rs 13.47 crore)," a company press release said. Net interest and depreciation stood at Rs 28.80 crore and Rs 21.93 crore, respectively.

Indal bottomline soars 60% to Rs 40.8 cr
Indian Aluminium (Indal) has recorded a 60 per cent jump in its net profit at Rs 40.8 crore for the quarter ended June 30, 2004, compared with a net profit of Rs 25.5 crore registered in the corresponding quarter of the previous year. Net sales grew 8 per cent at Rs 410.6 crore (Rs 380.9 crore). Exports rose 36 per cent at Rs 140.9 crore (Rs 103.5 crore).

Factors contributing to the growth were improved production at Hirakud smelter, Belgaum alumina refinery, and Belur steel plant. Higher export volumes in sheet and specialty chemicals and increased efficiency in operations of primary smelting and downstream operations helped the company achieve the growth.

JB Chemicals net perks up 11% to Rs 10.27 cr
JB Chemicals & Pharmaceuticals has posted a 11 per cent increase in its net profit at Rs 10.27 crore for the first quarter ended June 30, 2004, against the same period of the previous year.

Net sales rose 20 per cent to Rs 70.98 crore (Rs 59.19 crore). Outgo on account of interest was Rs 0.65 crore while the depreciation charge stood at Rs 2.76 crore.

Mukta loss up at Rs 4.39 cr
Film production house Mukta Arts has posted a net loss of Rs 4.39 crore for the first quarter of 2004-05, compared with a loss of Rs 1.23 crore in the corresponding quarter of the previous fiscal.

As per the foot notes in the unaudited financial results, the loss is primarily on account of an annual keyman insurance premium of Rs 3.92 crore paid during the quarter.