Amrit Banaspati, Ansal & Apollo Tyres Q2 results

CORPORATE SCORECARD

Amrit Banaspati net up 233% at Rs 6.82 cr

Amrit Banaspati Company, a manufacturer of vanaspati and refined oils, showed 232.68 per cent rise in its net profit to Rs 6.82 crore in the first half of the current financial year, ended September 2005, compared with Rs 2.05 crore in the corresponding period last year.

The company's net sales rose to Rs 228.53 crore for H1 of 2005 compared with Rs 224.22 crore in the same period last year.

Ansal Q2 net up to Rs 7.06 cr

Focus on tier-II infrastructure projects has led Ansal Properties & Infrastructure's net profit to zoom to Rs 7.06 crore in the second quarter ended September 30 this year from Rs 81 lakh in the corresponding period last year.

"We have increased our focus in tier-II regions like Sonepat, Panipat and Greater Noida and entering newer towns like Meerut and Ghaziabad," said Anil Kumar, director. The company's income in Q2 has recorded a jump of 90 per cent to Rs 70.7 crore from Rs 37.3 crore.

Apollo Tyres Q2 net up 25% at Rs 18.66 cr

Apollo Tyres reported 25.49 per cent increase in net profit in the second quarter ended September 2005 to Rs 18.66 crore. It posted net sales of Rs 632.78 crore recording a growth of 24.65 per cent over the same period last year.

Operating profit increased up 29.37 per cent to Rs 60.21 crore from Rs 46.54 crore. Net sales during the first half increased by 17.83 per cent to Rs 1,200.87 crore, while net profit increased by 15.90 per cent to Rs 35.35 crore during the same period.

Operating profit in H1 was up by 20.02 per cent to Rs 94.6 crore. Raw material cost as a percentage of net sales moved up sharply during Q2 by four percentage points to 72 per cent (of net sales) from 68 per cent Q2 of FY05.

The increase was primarily due to increase in the cost of natural rubber during and also increase in the price of crude in the international markets. A statement from the company said that sales of passenger car tyres had witnessed a growth of 45 per cent compared with the industry average of 9 per cent in the first five months (April to August) of the financial year.

Towards the end of the second quarter, Apollo Tyres had also withdrawn from a JV with Michelin by selling its 49 per cent stake for an estimated Rs 43 crore. The company later said that efforts in developing radial tyres for the bus and truck market would continue internally, though its own R&D efforts.