Avaya, AEC, MMTC, Tata Coffee results

CORPORATE SCORECARD

Avaya net zooms 129%

Avaya GlobalConnect, formerly Tata Telecom, has recorded a 129 per cent growth in net profit in the quarter ended December 2004 to Rs 20.72 crore from Rs 9.04 crore in the corresponding period of the last year.

Net sales stood flat Rs 97.33 crore compared to Rs 97.96 core.

AEC net rises 25%

The Ahmedabad Electricity Company Limited (AEC), an entity of multi-diversified Torrent group, has reported an around 25 percent growth in net profit in the third quarter of the current financial year to Rs 17.13 crore against Rs 13.64 crore reported in the corresponding period of the last fiscal year.

AEC, which is responsible for power distribution in Ahmedabad city, has posted net sales of Rs 312.48 crore against Rs 289.86 crore reported in the third quarter of the last financial year, while its sales by end of the nine months of the current financial year touched Rs 1004.88 crore higher than Rs 926.68 crore of gross sales reported during the first nine months of the last financial year.

For the nine months April to December 2004, AEC posted a profit after tax (PAT) of Rs 52.77crore, its PAT during first nine months of the last fiscal year was pegged at Rs 39.84 crore.

MMTC net rises 75%

MMTC Ltd today a 75 per cent growth in its net profit to Rs 25.34 crore during the third-quarter of the current financial year against Rs 14.44 crore during October-December 2003.

The company's cumulative net profit for the first nine months of the year rose 146 per cent to Rs 79 crore. Net profit earned in during the three quarters is more than the total annual profit during the last financial year, a company release said.

Net income of the company from sales, services and other trade earnings also increased to Rs 3,065 crore, a growth of 31 per cent over the Rs 2,339 crore seen in April-December 2003.

S D Kapoor, chairman and managing director, attributed the growth to aggressive marketing strategies focused on expanding the market and product base besides consolidating core areas of competencies, the release said.

Revenue from exports also nearly doubled from Rs 824 crore .

Tata Coffee net up 308%

The board of directors of Tata Coffee Ltd on Thursday announced the financial results for the quarter-ended December 31, 2004. Q3 profit after tax was up 308% and this is inclusive of the extraordinary income of Rs 8.39 cr) at Rs 13.32 crore against Rs 4.32 crore for the corresponding quarter last year.

Extraordinary income of Rs 8.39 crore consists of sale of shares, investments and properties.

Total income for quarter was Rs 50.43 crore as against Rs 52.75 for corresponding quarter last year.