Essar Shipping, First Leasing & Hikal results

CORPORATE SCORECARD

Essar Shipping net up 91%

Essar Shipping has recorded a 191 per cent growth in its net profit in the quarter ended December 31, 2004 at Rs 107.24 crore compared with Rs 36.84 crore in the same quarter of the previous year.

Income from operations was up 33 per cent at Rs 196.77 crore against Rs 147.86 crore in the third quarter of the pervious fiscal.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at Rs 134.72 crore, 94 per cent increase compared with Rs 69.57 crore in the same quarter of the previous year.

Net interest and depreciation were Rs 6.08 crore and Rs 18.49 crore respectively for the quarter ended December 31, 2004. Provision for tax net of deferred tax liability resulted in a net liability of Rs 2.91 crore.

First Leasing net up 16%

The Chennai-based First Leasing Company of India Ltd reported a 16.22 per cent increase in net profits to Rs 6.03 crore for the quarter ending December 31, 2004 compared with Rs 5.19 crore for the same period the previous year.

Income from operations fell by 7.6 per cent to Rs 27.34 crore for the third quarter compared with Rs 29.59 crore for the same period last year.

Other income zoomed by 201.92 per cent to Rs 2.40 crore in third quarter in 2004-05 compared with Rs 79.56 lakh for the same period last year.

Other expenditure fell dramatically to Rs 3.20 crore for the third quarter in 2004-05 from Rs 6.55 crore for the same period last year.

Hikal net profit rises 20%

Hikal's net profit for the quarter ended December 31, 2004, has increased 20 per cent at Rs 8.25 crore compared with Rs 6.87 crore reported for the corresponding quarter of the previous year.

The company registered a 27 per cent rise in its net sales at Rs 44.73 crore compared with net sales of Rs 35.1 crore, reported for the corresponding period of the previous year.