Finolex, Ispat & Ipca Lab Q2 results

CORPORATE SCORECARD

Finolex net up at Rs 21.5 cr

Finolex Cables Ltd on Wednesday reported a four-fold increase in its net profit for the quarter ended September 30, at Rs 21.5 crore as compared with Rs 5.14 crore in the same quarter the previous year.

Total income (net of excise) for the July-September period during 2006-07 rose 60.86 per cent to touch Rs 277.06 crore from Rs 172.23 crore in the same period last year, the company informed the Bombay Stock Exchange.

The company, a flagship of the Finolex group, manufactures electrical and telecommunication cables.

Ispat in the black, net at Rs 2 cr

Ispat Industries is back in the black. The integrated steel-maker has posted a net profit of Rs 2.32 crore for the quarter ended September 30 as against a net loss of Rs 363.01 crore for the corresponding quarter last year.

Ispat's net income for the quarter grew 54 per cent to Rs 1,892.71 crore from Rs 1,232.18 crore in the same period last year.

Vinod Mittal, managing director, Ispat, said, "The benefits from the 22.4 lakh tonne sinster plant and 1,260 TDP oxygen plant, coupled with our continuous cost efficiency efforts and better sales realisation have helped the company to achieve improved financial performance during the quarter."

The company's earnings before interest, depreciation and taxes (EBIDTA) during the quarter stood at Rs 406.03 crore as against a negative EBIDTA of Rs 149.66 crore last year.

Ipca Lab net at Rs 35 cr

Pharma company Ipca Laboratories Ltd on Wednesday posted an increase of over two fold in net profit after tax at Rs 35.40 crore for the quarter ended September 30 as compared with Rs 17.49 crore for the same quarter last year.

The total income (net of excise and sales tax) increased 24.46 per cent to Rs 244.48 crore for the quarter ended September 30 from Rs 196.42 crore a year ago, the company informed the Bombay Stock Exchange.

The company declared an interim dividend of 35 per cent for 2006-07, it added.