Graphite India, Logix Microsystems & Wheels India Q2 result

CORPORATE SCORECARD

Graphite India Q2 profit rises 25%

Leading graphite electrode manufacturer Graphite India (GIL) has posted a 25 per cent rise in net profit for Q2 FY09 at Rs 47.65 crore on the back of increased volumes, better realisation, cost reduction and higher plant productivity. Sales during the quarter increased 45 per cent to Rs 403.33 crore. The company suffered foreign exchange losses worth Rs 26.05 crore on account of the rupee's depreciation. GIL exports nearly 70 per cent of its production. The firm's electrodes division recorded an 87 per cent rise in profits to Rs 89.40 crore, while sales stood at Rs 376.85 crore, up from Rs 243.80 crore y-o-y.

Logix Microsystems Q2 net up 12%

Logix Microsystems, a software product company that provides automotive e-retailing solutions, has posted an 11.58 increase in its second quarter net profit to Rs 3.07 crore riding high on increased internet marketing spends by US automotive dealers. The Bangalore-headquartered company's revenues grew 6 per cent to Rs 12.49 crore as compared to the same quarter in the previous year. Managing Director Sanjay Soni said, "The results are yet another affirmation of the strong reputation of Logix products, platforms, services, and solutions in the US automotive retail segment."

Wheels India net profit up 10 per cent

Wheels India reported a 10 per cent increase in net profit at Rs 7.68 crore during the quarter ended September 2008, as against Rs 6.95 crore for the same period last year. Net sales increased to Rs 349 crore from Rs 270 crore, an increase of 29 per cent.