GMR Infra, Gillette India, ICI India, Mahabank results

GMR Infra net up 57%

GMR Infrastructure, which went public during August this year, has reported 57 per cent jump in net profit to Rs 37.1 crore for the second quarter of the current financial year. The company's topline has moved up 43 per cent to touch Rs 321.07 crore.

For the last financial year, the company reported topline of Rs 1,058 crore and a net of Rs 93.6 crore. GMR Infrastructure is the holding company for the special purpose vehicle, which is undertaking the Delhi airport modernisation project, the greenfield Hyderabad International Project, besides managing four power projects and a few other road projects.

Gillette India net up 261% at Rs 51 cr

Six months after it integrated its sales and distribution operations with consumer goods giant Procter & Gamble, shaving products major Gillette India announced a profit of Rs 50.5 crore for the third quarter ended September 30, 2006 even as sales dipped 14 per cent to Rs 101.2 crore.

The net profit jumped 261 per cent from the corresponding quarter last year. The company attributed the exceptional growth in profits to a one-time adjustment of Rs 38.1crore in its accounts book, by charging the exceptional expenditure related to the integration to the Capital Reserves in accordance with the Rajasthan high court order.

ICI India net up 30%

Growth in sales and strict control over costs pushed up paints manufacturer ICI India's net profit by more than 30 per cent in the quarter ended September 30, 2006 compared with sales and profit in Q2 of 2005-06. Income from operations in the quarter under review rose to Rs 276 crore, net profit to Rs 20 crore and earnings per share to Rs 5.03, against sales of Rs 260 crore, net profit of Rs 15 crore and EPS of Rs 3.78 in Q2 of FY06.

Paint sales in the September quarter stood at Rs 217 crore, up from Rs 170 crore in the same quarter a year ago, while segment profit surged to Rs 19 crore from Rs 12 crore in the comparable quarter of the previous financial year.

Mahabank profit up 5-fold to Rs 61.29 cr

State-run Bank of Maharashtra has registered an all-round growth in its business during the second quarter of the current financial year (2006-07) as the bank's advances, deposits and profits have shown substantial rise.

The net profit rose five-fold in the July-September quarter to touch Rs 61.29 crore against Rs 12.35 crore for the corresponding quarter last year.

The bank earned an operating profit of Rs 120.46 crore in the September quarter compared with Rs 96.93 crore in the same period last year, marking an increase of 24.28 per cent. The bank's total income was higher by Rs 683 crore in the quarter than that in the same quarter last year.