Videocon Ind Sept qtr net up 7% to Rs 160 cr

Diversified business firm Videocon Industries today posted a 7.1-per cent increase in its net profit to Rs 159.92 crore in the quarter ended September 30, 2010, over the same period last fiscal.

The company had a net profit of Rs 149.26 crore in the September 30, 2009, Videocon Industries said in a filing to the Bombay Stock Exchange.

During the quarter, the company's income from operations stood at Rs 2,985.46 crore, a 13.89-per cent increase from Rs 2,621.24 crore recorded in the corresponding period last fiscal.

The company also said that its board of directors have formed a committee for re-organising and segregating its different businesses.

"The re-organisation committee is required to submit updates with the board of directors from time to time. Further, once the evaluation of the various option is complete, the committee is required to submit its recommendations to the board of directors with necessary justifications thereof," the filing said.