Eastern Silk net profit drops 77.47%

Eastern Silk Industries Limited has recorded a net profit of Rs 4.38 crore for the first quarter of 2009-10, against Rs 19.46 crore in the same period last financial year, a drop of 77.47 per cent because of the recession. The company plans to bring in a new range of products in order to improve the product mix with the coming up of a new facility in Bangalore. Net sales of the company stood at Rs 151.78 crore in the first quarter, up by 16.82 per cent as against net sales of Rs 129.93 crore in the corresponding quarter of 2008-09.

UCL net profit drops 18.44 per cent

Universal Cables Limited, has recorded a net profit of Rs 1.99 crore for the quarter ended June 30, 2009, as against Rs 2.44 crore in the corresponding period last year, a drop of 18.44 per cent. The company is on an expansion mode. It is implementing another expansion in the EHV Cable segment (132 kV and above) by putting the second VCV Line, expected to be operational by September 2010. After successful Type Test at CPRI, Bangalore, the prototype 220 kV XLPE Cable sample, manufactured by the company in its existing VCV Line, it is undergoing long duration pre-qualification test in China. Once successfully completed, it would strengthen the area of its core competence.

JSPL net profit up 123%

The net profit of Jindal Steel and Power Limited (JSPL) has increased by 123 per cent to Rs 988.47 crore during the first quarter ended June 30, 2009 as compared to Rs 443.67 crore recorded during the corresponding period last year. On a standalone basis, net profit had decreased by 25 per cent to Rs 300.06 crore as compared to last year’s Rs 402.30 crore recorded during the corresponding period.