Sify, Rolta, PFC & Uttam Galva Q4 results

CORPORATE SCORECARD

Sify posts profit of Rs 10.21 crore

Posting a profit for the first time in FY07, Sify's consolidated (unaudited) net profit as per US GAAP stood at Rs 10.12 crore ($2.3 million). It reported a net loss of Rs 15.4 crore ($3.50 million) in the previous financial year.

Its revenues for the financial year stood at Rs 563.2 crore ($128 million) "" an increase of 17.9 per cent over the previous year. Its net profit for the year was impacted due to provision for doubtful debts (PDD) amounting to $5.7 million. Consolidated revenues for the quarter stood at Rs 145 crore ($33.0 million) "" a sequential growth of 2.5 per cent over the previous quarter.

However, it registered a net loss of Rs 7.48 crore ($1.7 million) in this quarter due to PDD. The exchange loss of $0.4 million was incurred on account of the strong rupee.

Raju Vegesna, chairman and MD & CEO, Sify, said, "I am extremely pleased that we have been able to report a net profit for the year for the first time, despite the restructuring of the businesses that we have effected over the last six months. These changes are now falling in place for future growth and profitability, while the initiatives launched during the last quarter should generate the momentum going forwards particularly in the consumer businesses."

Rolta's bottom line up 38%

Rolta India consolidated net profit grew 38 per cent for the quarter ended March 31, 2007, to touch Rs 45.54 crore compared with Rs 33.03 crore for the same quarter last year. Its consolidated revenues grew 31 per cent at Rs 185.59 crore (Rs 141.9 crore).

The company's consolidated revenues registered a sequential growth of 10.4 per cent from Rs 170.41 for the quarter ended December 31, 2006. Its consolidated earnings per share for the quarter after considering the dilution of GDR issue was Rs 5.7 (Rs 5.2).

PFC posts marginal rise in profit

Power Finance Corporation (PFC), the recently listed mini-ratna company, has posted 1 per cent increase in net profit to Rs 983 crore in 2006-07, despite 26 per cent rise in total income to Rs 3,926 crore.

Extraordinary gains last year and a higher provision for deferred tax liability this year ensured that the growth in net profit was limited. "On an operational level, profit growth has been healthy," said V K Garg, chairman and managing director.

Profit before tax was up 19 per cent during the year at Rs 1,508 crore. Despite the pressure from rising interest rates and the subsequent increase in the cost of funds - from 7.07 per cent to 7.33 per cent in 2006-07 "" the non-banking finance company managed to improve net interest margin (NIM) by 10 basis to 3.53 per cent from 3.43 per cent in 205-06. Net interest income was up 26 per cent to Rs 1,418 crore. The company lends about three-quarters of its funds to the power generation sector.

Uttam Galva net up 36% for FY07

Galvanised steel producer Uttam Galva Steels (UGSL) has registered a net profit of Rs 100.84 crore for the financial year ended March 31, an increase of 36 per cent over the last year. Net sales increased 44 per cent to Rs 2,567.38 crore.

Exports rose 38 per cent to Rs 1,455.83 crore. Ankit Miglani, director, commercial, UGSL, said, "The improvement in both the top line and bottom line is a result of our three-pronged strategy of focusing on value-added steel (including auto grade), diversification of export markets and boosting cost and productivity efficiencies." UGSL exports to more than 125 countries.