| Bata bottom line up 62%
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| Bata India, the country's largest footwear retailer, today announced a 62 per cent increase in net profit in the June quarter on a 12 per cent growth in net income.
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| The company's better performance was attributable to higher income generated through a handful of initiatives including better shoe designs, renovation of stores and addition of stores of international standard.
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| Bata has posted net profit of Rs 11.74 crore in the quarter ended June 30, 2007 compared with Rs 7.22 crore in the corresponding quarter a year ago. Net sales, during the period, went up to Rs 249.80 crore from Rs 222.79 crore.
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| However, the improved performance did not have any impact on the Bata stock, mainly due to the general fall in the Mumbai market. Share prices of Bata lost 3.10 per cent on the BSE to close at Rs 162.65 against yesterday's close of Rs 167.85. The BSE Sensex today fell by 3.4 per cent.
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| Colgate net up 69% to Rs 61 cr
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| Boosted by double-digit volume growth in its toothpaste sales, oral care major, Colgate-Palmolive (India) today reported a 69 per cent growth in net profit to Rs 60.88 crore in the quarter ended June 30, 2007, over Rs 36.06 crore earned in the corresponding quarter of 2006. Net sales increased 13 per cent to Rs 350.70 crore during the quarter from Rs 310.35 crore.
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| The company attributed the surge to a nine per cent growth in sales, led by a 10 per cent growth in the sales of its toothpastes.
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| According to a statement issued by the company, new variants and new product launches across its product portfolio have helped the company in increasing profit along with market share.
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| Idle assets dent GMR net
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| GMR Infrastructure, a Bangalore-based infrastructure company with focus on airports, roads and power, has reported a flat net profit, as it is sitting on idle assets in the form a 380 mw Rs 1,100 crore gas-powered power project in Andhra Pradesh.
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| The company, which is revamping Delhi Airport and building a greenfield airport in Hyderabad, has reported a net profit of Rs 46 crore for the first quarter, while its top line grew by 20 per cent to Rs 496 crore.
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| According to the company, it has set up the Rs 1,100-crore project in Vemagiri in Andhra Pradesh, but due to the unavailability of gas it had to incur an outflow to the tune of around Rs 26 crore.
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| "The project was commercialised in September 2006, and since then, there is no gas available for the project. We have to keep servicing the debt component besides other components. This is the reason for the flat net during the current quarter,” a spokesperson of the company said.
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| MTNL net profit down 6%
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| State-owned Mahanagar Telephone Nigam Ltd (MTNL) has recorded a 6 per cent decline in net profit at Rs 110.90 crore in first quarter ended June 30, 2007, compared with Rs 118.28 crore posted during the same period of previous financial year.
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| The company’s total income decreased to Rs 1,280.04 crore during the reporting quarter from Rs 1,351.35 crore posted during the same period a year ago. |
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