GSS America, Rain Commodities & Sanghi Polyesters Q4 result

GSS America Q4 net dips 41%
GSS America Infotech Limited, a Hyderabad-based enterprise application integration (EAI) and infrastructure management services (IMS) company, reported a 40.96 per cent dip in its net profit to Rs 10.88 crore for the fourth quarter ended March 31, 2009, as compared with Rs 18.43 crore during the same period a year ago.

Net income for the quarter stood at Rs 86.48 crore, as against Rs 94.87 crore, reflecting a decline of 8.84 per cent. For the full year, the company reported a net profit of Rs 66.63 crore, as against Rs crore 62.19 crore, up 7.13 per cent, while its net income grew 36.74 per cent to touch Rs 408.45 crore, as against Rs 298.70 crore the previous year.

Rain Commodities net dips 21.5%
Rain Commodities Limited, which has interests in cement and carbon products, registered a 21.51 per cent decline in net profit to Rs 87.22 crore for the quarter ended March 31, 2009, as compared with Rs 111.13 crore during the corresponding period last year. Revenues during the quarter increased 29.61 per cent to Rs 1,050.3 crore from the Rs 810.30 crore last year. Expenditure was up 33.76 per cent to Rs 855.43 crore from Rs 63.948 crore last year due to increase in raw material costs, employee costs, power and fuel and others. The fall in net profit was due to the decrease in sales in the calcined petroleum coke line in the US following maintenance shutdown, said Rain Commodities vice-president (finance) T Srinivas, a company release said.

Sanghi Polyesters posts profit
Sanghi Polyesters, a city-based manufacturer of polyester filament yarn, recorded a net profit of Rs 40.24 lakh for the quarter ended March 31, 2009, as compared with a net loss of Rs 6.14 crore in the corresponding period last year. Its revenues for the quarter stood at Rs 79.4 crore as compared with Rs 108.12 crore last year, down 26.56 per cent. The company extended its financial year, which ended December 31, 2008, by three months to March 31, 2009. The current financial year would be for 12 months beginning April 1, a company release said.