GTL, Rallis India & Finolex Q2 Result

CORPORATE SCORECARD

GTL rings in 40% rise in Q2 net profit

Telecom network services provider GTL has posted a net profit of Rs 42.35 crore on a consolidated basis in its second quarter ended September 2008, a 40.23 per cent rise compared with Rs 30.20 crore recorded during the same period last year.

The company’s consolidated revenues from global operations rose 25 per cent to Rs 492.44 crore for the quarter under review compared with Rs 393.63 crore recorded during the comparable period of the previous financial year. The net profit and revenues of its second quarter this year and the comparable quarter last year exclude the net profit of the company’s discontinued IT business.

 

The company received orders worth Rs 600 crore for network deployment from various Indian and overseas telecom operators during the quarter, GTL Chairman and Managing Director Manoj Tirodkar said. GTL offered network deployment services to Reliance Telecom, Datacom Solutions and Aircel during the quarter. It also offered similar services to global majors like STC (Saudi Arabia), NSN (Indonesia) and Ericsson (UK).

He, however, did not disclose the orders received from individual companies. As on September 30, the company has orders worth around Rs 2,471 crore from various countries. The company’s orders from India were around Rs 1,511 crore, while those from West Asia and Africa were Rs 450 crore, Europe Rs 270 crore, APAC Rs 180 crore and North America Rs 60 crore.

It also has net cash reserves of Rs 330 crore and has also bid for BSNL’s $8.5-billion tender to set up 93 million additional GSM lines.

Rallis India Q2 net down 59% to Rs 41 crore

Tata Group company Rallis India today announced a net profit of Rs 41.59 crore for the second quarter ended September 30, a 59.17 per cent decline in the same quarter year ago.

The company had a net profit of Rs 101.88 crore in the second quarter FY08, Rallis India informed the Bombay Stock Exchange. Meanwhile, the company has posted profit before exceptional items of Rs 66 crore for the second quarter this fiscal from Rs 38 crore in the previous year, registering a growth of 72 per cent, the company said in a statement.

“I am happy to report strong operating and financial performance for Q2 and H1 2008-09... We have registered a healthy profit growth driven by increases in sales of our key products in domestic as well as international business,” Rallis India CEO and Executive Director V Shankar said.

The net sales of the company rose to Rs 279.66 crore for the quarter under review, from Rs 241.03 crore in the corresponding period previous financial year. For the half year ended September 30, the company has posted a net profit of Rs 45.82 crore, against Rs 103.30 crore in the last financial year same period.

The net sales of the company for the half year rose to Rs 451.55 crore from Rs 354.75 crore in the corresponding period year ago. Shares of the company closed at Rs 362.85, down 1.08 per cent on the BSE.

Finolex Q2 net declines 93% to Rs 1.8 crore

Leading cable maker Finolex today registered a net profit of Rs 1.8 crore for the second quarter ended September 30, a decline of 93.28 per cent over the same period a year ago. The company had a net profit of Rs 26.8 crore for the second quarter ended September 30, 2007, Finolex said in a filing to the Bombay Stock Exchange. The net sales rose to Rs 374.21 crore for the quarter under review, from Rs 334.06 crore in FY08. For the six months ended on September 30, Finolex posted a 84.25 per cent decline in its net profit at Rs 9.23 crore, against Rs 58.61 crore in the corresponding period of FY08. Shares of the company closed at Rs 30.90, down 6.22 per cent on the BSE.