HZL Q1 net declines 15%

Despite significantly increasing its metal production, the country’s largest zinc producer and Vedanta Group company Hindustan Zinc Ltd (HZL) posted a 15 per cent decline in net profit, which the company attributed to an over 30 per cent slump in the benchmark metal prices on the London Metal Exchange (LME).

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DRL net up 120%

Hyderabad-based global pharmaceutical company Dr Reddy’s Laboratories saw a 120.07 per cent increase in net profit to Rs 244.5 crore for the quarter ended June 30, 2009, as compared with Rs 111.1 crore during the corresponding period last year.

Revenues during the quarter increased 21 per cent to Rs 1,818.9 crore as compared with Rs 1,503.9 crore last year. The increase in profit and revenues was largely due to the upsides from sumatriptan (drug used in the treatment of migraine), business from North America and India and cost restructuring.

NDTV loss at Rs 83.4 cr

News broadcaster NDTV had a consolidated net loss of Rs 83.4 crore for the quarter ended June 30, compared with a net profit of Rs 526.6 crore in the same quarter a year ago. However, that net profit of Rs 526.6 crore in the previous fiscal’s quarter was due to its income of Rs 642.5 crore from dilution of stake in a subsidiary.

Last year, the group had entered into a share subscription agreement with Universal Studios International and NBC Universal Inc in its overseas subsidiary for $150 million (Rs 642.5 crore), resulting in effective dilution of its stake in the downstream subsidiaries from 100 per cent to 74 per cent.

GTL net surges 77%

GTL Ltd, a network services provider, has posted a 77 per cent rise in net profit at Rs 58.92 crore for the quarter ended June 30, compared with Rs 33.25 crore during the corresponding period of previous financial year.

Separately, the company has decided to drop its plans to buy back shares from open market. The company’s net income for the reporting period rose 17 per cent to Rs 490.71 crore, as against Rs 418.84 crore recorded during the same quarter a year ago, GTL informed the BSE on Wednesday.

Piramal net up 25%

Major growth in domestic formulation business helped drug major Piramal Healthcare post a net profit of Rs 85.10 crore for the first quarter of 2009-10, 25 per cent higher over Rs 68.09 crore for the corresponding quarter last year. Consolidated net income from operations grew by 16 per cent for the quarter to Rs 821.54 crore, as against Rs 708.32 crore in the corresponding period. Domestic formulation business grew by 26 per cent during the quarter to post a revenue of Rs 440 crore. This was mainly powered by launch of nine products in lifestyle healthcare segment during the quarter.

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