Chennai Petroleum, Guj Inds Power & Havell Q2 results

CORPORATE SCORECARD

Chennai Petroleum net up 54%

Chennai Petroleum Corporation (CPCL) said its net profits for the quarter ended September 30, 2005, rose by 53.68 per cent at Rs 196.43 crore as compared with Rs 127.79 crore in the same period last fiscal. Total sales grew by 103 per cent to Rs 6,615.11 crore, as compared with Rs 3258.45 crore.

Profit for the quarter and half year ended September 30, 2005, was net of discount of Rs 153.77 crore offered to oil marketing companies (including Rs 60.24 crore in Q1) as part of sharing of under recovery, it said. The gross refining margin for the quarter was $5.68 per barrel, compared to previous year's $5.78 per barrel.

Gross refining margin up to the quarter was $6.09 per barrel, as compared to previous year's $5.89 per barrel. For the first half, net profit increased to Rs 430.42 crore, compared with Rs 291.11 crore in the same period last year. Total sales for H1 stood at Rs 12,289.96 crore, compared with Rs 6,282.45 crore.

Guj Inds Power Q2 net dips 25%

Gujarat Industries Power Company reported a 25.29 per cent dip in net profit at Rs 24.22 crore for the quarter ended September 30, 2005, as compared with Rs 32.42 crore in the year-ago period. Total income has decreased 4.64 per cent to Rs 196.17 crore from Rs 205.73 crore.

Havell's net up at Rs 14.53 cr

For the quarter ended September 2005 in the current financial year, Havell's India net profit surged to Rs 14.53 crore, compared with Rs 5.72 crore in the corresponding period last year. Gross sales for the same period surged 60 per cent to Rs 255.02 crore compared with Rs 159.16 crore last year.

The company's board has also cleared merger of Crabtree India with Havell's India at the swap ratio of 100 shares of Havell's for every 246 shares of Crabtree. Crabtree is a leading player in the modular plate switch segment and home accessories segment.