Nava Bharat Ventures, Oracle Financial & Tulip Telecom Q2 results

Nava Bharat Ventures net up 1.21 per cent

Nava Bharat Ventures Limited, which has interests in ferro alloys, power, sugar and others, reported a 1.21 per cent increase in net profit to Rs 120.03 crore for the quarter ended September 30, 2009, compared with Rs 118.56 crore during the same period last year. Its revenues decreased to Rs 245.07 crore during the quarter from Rs 399.26 crore last year, down by 38.61 per cent.

Chairman D Ashok said the expenditure during the quarter decreased by 49.42 per cent to Rs 122.95 crore compared with Rs 243.09 crore.

Oracle Financial net at Rs 205 cr

Oracle Financial Services Software’s (OFSS) — a subsidiary if US-based Oracle — net profit for the second quarter ended September 30, 2009, at Rs 205 crore more than doubled from Rs 93.4 crore in the corresponding quarter last financial year. Consolidated revenue at Rs 679 crore dipped 3 per cent from Rs 699.65 crore in the same quarter last year.

Tulip Telecom net up 3.82% at Rs 52.07 cr

Enterprise communications service provider Tulip Telecom today said its net profit rose by 3.82 per cent to Rs 52.07 crore for the quarter ended September 30. The company’s revenue increased by 29.72 per cent to Rs 491.03 crore for the latest quarter from Rs 378.53 crore in the year-ago period.