Nasdaq-listed business process outsourcing firm EXL Service Holdings has recorded a 26 per cent growth in net income for the first quarter ended March 2008. Its net income grew to $6.8 million (Rs 27.8 crore) in the quarter compared with $5.4 million (about Rs 22.2 crore at a conversion rate of Rs 41/ dollar) in the corresponding previous period.

Revenues for the quarter were at $50.9 million (Rs 208.6 crore), up 27.8 per cent, from $39.9 million (Rs 163.5 crore) registered during the corresponding previous quarter. Reduction in interest income due to lower market interest rates, lower gains from foreign exchange hedge contracts and a higher effective tax rate impacted its quarter-on-quarter results.

Asahi Glass Q4 net down 243%

Asahi Glass India, the largest glass manufacturer in the country, has posted a 243.29 per cent drop in net profit for the quarter ended March 2008.

The company made a loss of Rs 12.28 crore in the quarter, while it recorded a profit of Rs 8.57 crore in the previous comparable period.

Net profit for FY08 slipped 80.52 per cent to Rs 8.44 crore. Sanjay Labroo, CEO & MD, AIS, said, "Rising input cost of power & fuel, soda ash continued to have an impact on operations and profitability."

IFGL Refractories' FY08 net up 8.5%

IFGL Refractories has recorded a profit after tax of Rs 28.49 crore for the year ended March 2008, an increase of 8.57 per cent, over the comparative period last year. Total income for the year stood at Rs 379.80 crore, up 17.26 per cent.

Pradeep Bajoria, director and chief executive officer, IFGL, said, the performance was affected due to high raw material prices.