JSL, Eicher Motors & EID Parry Q2 results

CORPORATE SCORECARD

JSL Q2 net loss at Rs 69 crore

The country’s largest stainless steel-maker, JSL, formerly Jindal Stainless, today reported a net loss at Rs 68.64 crore for the second quarter ended September 30. The O P Jindal Group company had a net profit of Rs 41.81 crore in the same period a year ago. Total income declined marginally to Rs 1,207.21 crore in the quarter under review, from Rs 1,248.93 crore in the same period last fiscal, JSL said in a filing to the Bombay Stock Exchange.

For the six months ended September 30, the integrated stainless steel producer reported a net loss of Rs 40.21 crore, while it had a net profit of Rs 124.41 crore in the year-ago period. Total sales rose to Rs 2,907.81 crore for the six-month period from Rs 2,339.10 crore in the same period last year. Shares of the company closed at Rs 36.55, down 13.70 per cent on BSE.

Eicher Motors Q2 PAT at Rs 45.2 crore

Commercial vehicles maker Eicher Motors today reported a profit after tax (PAT) before minority interest for the second quarter ended September at Rs 45.2 crore as against Rs 14.1 crore in the same quarter last financial year. The company said its PAT for the quarter included a one-time exceptional income (net of tax) of Rs 30.4 crore. Total operating income (net of excise) for the quarter stood at Rs 494.9 crore as against Rs 559.4 crore, down 11.5 per cent, it added.

For the half year ended September, PAT before minority interest but inclusive of the one-time exceptional income (net of tax) stood at Rs 50.4 crore as against Rs 23.6 crore in the year ago period. Total operating income (net of excise) for the half year amounted to Rs 1,052.0 crore as against Rs 1,038.8 crore, up 1.3 per cent.

EID Parry net zooms 806% to Rs 761 crore

Chennai-based EID Parry (India), part of the Murugappa Group, posted a whopping 806 per cent increase in its net profit to Rs 761.37 crore for the quarter ended September 30, 2008 as against Rs 83.99 crore for the same period last year. Net sales increased 82 per cent to Rs 3,641.17 crore from Rs 1,991.39 crore.

Other income rose by almost 200 per cent to Rs 25.94 crore from Rs 8.47 crore. Total expenditure increased to Rs 3,391.30 crore from Rs 1,855.14 crore, mainly due to the consumption of raw materials which increased to Rs 2,580.76 crore from Rs 869.63 crore.