SCI, Eicher, Syntel, Amara Raja & SAPL Q1 results

CORPORATE SCORECARD

SCI net profit surges 36%

Shipping Corporation of India, the country's largest sea carrier, reported a 35.65 per cent rise in net profit for the quarter ended June 30, 2008 at Rs 279.6 crore year-on-year.

The company benefitted from higher revenues accruing from freight and better efficiency in its container shipping business. At Rs 1,061.9 crore, the net sales of the company for the quarter were 19.87 per cent higher.

Eicher net dips 38%

Eicher Motors, India's fourth largest commercial vehicle player by sales, posted a decline of 37.64 per cent in net profit at Rs 6.94 crore for the quarter ended June 30, 2008 as against Rs 11.13 crore in the corresponding quarter of the previous year.

Syntel Q2 net up 31%

Nasdaq-listed Syntel, a BPO firm with operations in India, reported a 30.7 per cent increase in net income for the second quarter ended June 30, 2008 at Rs 74.8 crore ($17.4 million) as compared with Rs 57.2 crore ($13.3 million) in the corresponding quarter last financial year.

For the first time, the company’s revenue crossed the $100-million mark in a quarter. The revenues touched $103.4 million (Rs 444.6 crore) up 28.6 per cent from $80.4 million (Rs 345.7 crore) in the prior-year period.

Amara Raja net profit tumbles 20%

The net profit of Amara Raja Batteries, an industrial and automotive battery maker, fell 20 per cent at Rs 14.9 crore for the quarter ended June 30.

SAPL profit tanks

South Asian Petrochem registered a 66 per cent dip in net profit to Rs 11.53 crore in the quarter ended June 30, 2008, as compared with the quarter last year, on account of foreign exchange losses of Rs 11.33 crore, as well as an 83 per cent rise in power and fuel costs, Net sales were up 14 per cent at Rs 312.34 crore, during the quarter.

The consolidated net profit for the 2007-08 finacial year was up 24.5 per cent at Rs 55.52 crore, while the sales showed a 2 per cent dip at Rs 1,044.28 crore.

The company's operational expenses declined by 1.04 per cent during the year due to improved operational efficiency while it also reduced its capital costs per tonne. During Q1FY09, export revenues were down at Rs 161.26 crore from Rs 182.04 crore in the quarter last year. BS Reporter