Eveready profit rises 415%

Eveready Industries India has recorded a profit after tax of Rs 16.05 crore for the quarter ended June 30, 2009, an increase of 415 per cent on the back of a four per cent gain in margins and excise duty benefit. Profit before tax increased 444 per cent to Rs 15.14 crore.Net sales increased six per cent to Rs 232.37 crore. Deepak Khaitan, executive vice chairman and managing director, Eveready said, the outlook for the next quarter was good. The company plans to reduce debt by Rs 50-60 crore this year through internal accruals and has also put up for sale its battery factory closed at Hyderabad.

 

PCB posts 10.57% drop in profit

Phillips Carbon Black Ltd(PCBL), an RPG group company and the country's largest carbon black manufacturer, has posted a 10.57 per cent drop in net profit to Rs 20.48 crore in the first quarter of the current fiscal over last year. "There was an other income of around Rs 10 crore in the corresponding quarter of the previous year which was not there in the quarter ended June 30", said A Goyal, managing director, PCBL. Net sales was down by 2.7 per cent to Rs 291.17 crore during the quarter. Goyal said that the plants were working in full capacity now after there was a demand slump in the last two quarters. "The outlook for the upcoming quarters is positive", he added.

Visa Steel posts Rs 10.07 crore PAT

VISA Steel, part of the Rs 5,000 crore VISA Group,has posted a profit after tax of Rs 10.07 crore in the first quarter ended June 30, 2009, a drop of 79.24 per cent. The PAT margin was at 3.96 per cent compared to 18.97 per cent in the same period last year.Revenues dipped 0.63 per cent to Rs 254.10 crore. Vishal Agarwal, Managing Director, VISA Steel said, “The revenues during Q1 of FY’2009-10 have been stable inspite of sharp fall in sales realization of our products due to better production volumes in our operating plants."

CESC profit up 11.70%

CESC Limited, the flagship company of RPG group has recorded a net profit of Rs 105 crore for the quarter ended June 30, 2009, an increase of 11.70 per cent. The company posted a net profit of Rs 94 crore in the same period last year. Net Sales surged 3.32 per cent to Rs 809 crore during the quarter as against Rs 783 crore last year. CESC paid a dividend of 40 per cent to the government