Mirc Electronics, Kansai Nerolac & Puravankara Q4 results

CORPORATE SCORECARD

Net profit for the quarter under review has increased by 26 per cent to Rs 6.5 crore (Rs 5.17 crore).

The company registered net sales of Rs 1,528 crore during FY08 compared with Rs 1,513 crore a year ago. It posted a net profit of Rs 34.5 crore for the year as against Rs 34.1 crore during the last financial year.

 

Kansai Nerolac Q4 net up 3%

India's third largest paint maker Kansai Nerolac has posted a net profit growth of 2.8 per cent to Rs 23.9 crore for the quarter ended March 2008. Net sales for the quarter grew 8.13 per cent to Rs 308.4 crore.

Net profit for the year ended March 2008, grew 13.6 per cent to Rs 119.6 crore and net sales grew 8.23 per cent to Rs 1,399.9 crore. H M Bharuka, managing director, Kansai Nerolac Paints, said, "The topline growth this year is led by decorative business well supported by growth in emulsions."

Puravankara Q4 net jumps 56.43% on better realisations

Bangalore-based Puravankara Projects has reported a 56.43 per cent increase in net profit at Rs 72.71 crore for the fourth quarter (Q4) ended March 2008 through better margin realisation. Revenues were up 9.17 per cent to Rs 153.88 crore.

For the whole year (FY08), net profit was up 85.94 per cent at Rs 240.05 crore and revenues by 35.73 per cent at Rs 565.81 crore.

Ravi Ramu, CFO, Puravankara Projects, attributed higher margins to "steady selling, low general and administrative expenses and a higher contributions of profits from the joint venture with Keppel Land."

"For the whole year, net profit margin has moved up to over 42 per cent from 31.9 per cent last year," he added.

The board of directors has recommended a final dividend of 40 per cent that is Rs 2 per equity share of Rs 5 each for the year.

On the outlook for FY09, Ravi Puravankara, chairman and managing director, said, "Of the total 124.79 million sq ft of land bank, the area under development is 18.78 million sq ft with projects spread across Bangalore, Hyderabad, Kochi and Mysore.

In all, there are 16 on-going residential projects and three commercial projects."

"A range of residential and commercial projects are planned in the coming months in Coimbatore, Kochi, Bangalore, Mysore and in Colombo in Sri Lanka. Through Keppel-Puravankara Development, we are entering Kolkata with a 2.2 million sq ft of development," he added.