NMDC, GAIL & Nestle India Q1 result

State-owned miner NMDC Limited reported a net profit of Rs 1,504.04 crore for the quarter ended June 30, up 94.38 per cent from Rs 773.75 crore during the corresponding period last year. Revenues during the quarter too increased 97 per cent to Rs 2,517.99 crore from Rs 1,278.05 crore last year.

Iron ore contributed Rs 2,509.36 crore to revenues this quarter (Rs 1,275.63 crore last year) and other minerals and services accounted for Rs 8.63 crore, up from Rs 2.42 crore last year.

NMDC Director (Finance) S Thiagarajan attributed the rise in revenues and net profit to the increase in the prices of iron ore. NMDC had increased the price of iron ore by about 90 per cent since April 1, 2010, he said. Besides, sales increased to 6.44 million tonnes during the quarter from the 5.38 million tonnes last year.

GAIL India net profit up 35%

GAIL India, the country’s biggest gas marketing company, on Monday posted a 35 per cent jump in net profit for the quarter ended June 30, over the corresponding quarter last year, on higher gas transmission volumes and better marketing margins. Net profit rose to Rs 887 crore, despite a significant jump in subsidy burden. Net sales advanced by 17.5 per cent to Rs 7,096 crore.

Nestle India net up 20%

Nestle India on Monday posted a 20.2 per cent rise in net profit at Rs 194.8 crore for the quarter ended June 30, compared to Rs 162 crore in the year-ago period. Net sales advanced by 21.2 per cent to Rs 1,467 crore, against Rs 1,210 crore last year.

Operating profit grew 16.4 per cent to Rs 261.5 crore, compared to Rs 224.6 crore in the previous corresponding quarter.