Dabur, DSCL & IOB Q2 Result

Mixed day for India Inc

Dabur net up 12%

Homegrown FMCG major Dabur India posted a 12.2 per cent rise in net profit at Rs 107.41 crore for the second quarter ended September 30, against Rs 95.74 crore in the corresponding period last year, on the back of aggressive cost management initiatives along with a judicious pricing strategy.

DSCL posts net profit of Rs 7.12 cr

DCM Shriram Consolidated Ltd (DSCL), the New Delhi-based diversified conglomerate, has reported a net profit of Rs 7.12 crore for the quarter ended September 30, 2008, as against Rs 607.05 crore in the corresponding period last year. However, the numbers are not comparable as the company earned Rs 780 crore from land sale last year.

Net sales increased by 38 per cent to Rs 960.16 crore as compared with Rs 597.46 for the corresponding period last year. Commenting on the outlook, the company management said that prices of chloro-vinyl were softening in line with global trends and expected softening in raw material prices promises a good year ahead. The company will benefit from the commissioning of the 48 MW coal-based power plant at the chlor-alkali facility at Bharuch.

IOB net up 12%

Chennai-based public sector bank Indian Overseas Bank (IOB) has reported a 12 per cent increase in net profit during the quarter ended September 30 to Rs 359.02 crore as compared to Rs 319.70 crore for the same period last year.

The bank's total income rose by 25 per cent to Rs 2,643.26 crore from Rs 2,104.77 crore. Interest earned increased to Rs 2,427 crore from Rs 1,930 crore, an increase of 25 per cent. IOB's operating profit rose by 16 per cent to Rs 534 crore from Rs 458 crore.