Gujarat NRE, Neyveli & Finolex Q3 results

CORPORATE SCORECARD

Gujarat NRE net up three-fold

Metallurgical coke manufacturer Gujarat NRE Coke today posted over three-fold jump in net profit at Rs 49.97 crore for the quarter ended December 31, 2007, compared to Rs 13.77 crore in the same quarter in 2006.

The company's net sales from operations rose by 39.02 per cent (rpt) per cent to Rs 242.80 crore for the December quarter from Rs 174.64 crore in the corresponding period a year ago, Gujarat NRE informed the National Stock Exchange.

"The results have been encouraging, though on expected lines. Coke prices have steadily increased resulting in better realisations, besides, the company has also reaped benefits of hedges against fluctuations," Gujarat NRE Vice Chairman and Managing Director Arun Kumar Jagatramka said.

Neyveli Q3 profit increases 34%

Public sector enterprise Neyveli Lignite today reported 33.94 per cent increase in net profit at Rs 204.48 crore for the quarter ended December 31, 2007 as compared to Rs 152.66 crore during the same quarter in 2006.

Total income of the company rose by 26.94 per cent to Rs 816.09 crore for the third quarter ended December 31, 2007 from Rs 642.82 crore in the corresponding quarter a year ago, the company informed the Bombay Stock Exchange.

The board of directors at its meeting today declared an interim dividend of 10 per cent on the paid up share capital. Shares of the company closed at Rs 164.75, down 23.10 per cent on the BSE.

Finolex net down 6% to Rs 21 cr

Leading manufacturer of electrical and communication cables Finolex Industries today posted a marginal decline of 5.72 per cent in net profit at Rs 21.57 crore for the quarter ended December 31, 2007 as compared to Rs 22.88 crore in the same quarter of 2006.

Total Income of the company rose 32.26 per cent to Rs 484.53 crore for the third quarter ended December 31, 2007 from Rs 366.34 crore in the same quarter a year ago, the company said in a filing to the Bombay Stock Exchange.