Hyderabad-based Nagarjuna Fertilisers and Chemicals recorded a 32.79 per cent fall in net profit to Rs 1.25 crore for the fourth quarter ended March 31, 2008, compared with Rs 1.86 crore during the comparative previous period.
Though income during the quarter increased 39.72 per cent to Rs 604.76 crore (Rs 432.83 crore), expenditure too was up 36.65 per cent to Rs 543.58 crore (Rs 397.77 crore), which resulted in lower profits. The rise in expenditure was due to increased costs of raw materials, power and fuel, purchase of traded products, employee costs and the rupee appreciation.
Earnings per share slipped to Re 0.03 (Re 0.04) in the quarter.
For the year ended March 2008, net profit declined 29.07 per cent to Rs 22.49 crore (Rs 31.71 crore).
Alok Inds Q4 net up 24%
Capacity expansion and diversification in new markets has enabled Mumbai-based Alok Industries to beat the rupee blues. The textile firm reported 59.87 per cent jump in export sales for FY08 to Rs 1,025 crore compared with Rs 641.71 crore in the previous year.
The company posted net sales of Rs 724. 79 crore for the quarter ended March 2008, compared with Rs 574.08 crore for the corresponding period last year.
It reported 24.45 per cent rise in net profit in the quarter to Rs 60.98 crore (Rs 49 crore). Operating margins were at 24.89 per cent (23.34 per cent).
For FY08, it posted net sales of Rs 2,159.25 crore (Rs 1,824.68 crore). While net profit for the year increased by 23.79 per cent to Rs 167.34 crore (Rs 135.18 crore).
Sunil Khandelwal, chief financial officer, Alok Industries, said, "The company has earmarked Rs 1,200 crore for capacity expansion for 2005-09, which has helped in achieving scales. We are now present in 60 countries and have reduced dependency on the US market."
During FY08, the US accounted for 35 per cent of its revenues compared with 50 per cent in the last financial year. While the Asian and Latin American markets have started contributing around 15 per cent each to the revenue pie.
The company is also focusing on the domestic market and has hived off its retail business, Alok Homes & Apparels, into a wholly owned subsidiary. It intends to have a pan-India presence with 400 stores in next three years.
GSS America Q4 net up 34%
Enterprise application integration and infrastructure management services provider GSS America Infotech has recorded a net profit of Rs 18.43 crore for the fourth quarter ended March 2008, compared with Rs 13.72 crore in the corresponding quarter last year, an increase of 34.32 per cent. Revenues grew 100 per cent to Rs 94.87 crore (Rs 47.43 crore), while EPS was at Rs 13.86 (Rs 14).
For the full year, the company reported a net profit of Rs 62.19 crore (Rs 37.09 crore), up 67.67 per cent, while revenues rose 81.82 per cent to Rs 298.7 crore (Rs 164.28 crore). EPS for the full year stood at Rs 46.76 (Rs 37.84).
It has projected revenues of Rs 500 crore in FY09, growing by about 67 per cent, while its net profit is expected to be around Rs 95 crore.
