Uttam Galva, Aditya Birla & Indoco Q4 results

CORPORATE SCORECARD

For the financial year ended March 2008, net profit after tax stood at Rs 124 crore, up 9.7 per cent. Net sales was at Rs 3,156 crore, an increase of 23 per cent.

Commenting on results, Ankit Miglani, director (commercial), Uttam Galva, said, "Our expansion plans of increasing our capacities of cold rolled and galvanised steel are now complete. We are now exporting to more than 135 countries. Our facilities are geared to satisfy the most exacting client requirements in both domestic and global markets."

 

Aditya Birla Nuvo Q4 net dips 127%

Aditya Birla Nuvo, part of the Aditya Birla group, has posted a decline of 127 per cent in its consolidated net profit for the quarter ended March 2008, at Rs 21.90 crore compared with Rs 82.20 crore in the previous comparable period. Net income from operations during the period grew by 43 per cent to Rs 3,804.40 crore (Rs 2,652.20 crore).

For FY08, its consolidated net profit declined 46 per cent to Rs 150.80 crore (Rs 280.90 crore). Net income stood at Rs 12,134 crore (Rs 8,365.80 crore), up 45 per cent.

The company attributed the poor quarterly and yearly show to higher losses in its life insurance business where net losses increased to Rs 445.30 crore (Rs 139.70 crore) due to growing share of new business premium.

For its BPO business too, the company's loss was higher at Rs 88.9 crore mainly due to weakening the dollar. Similar was the case with its garments business where profitability went down. Its telecom business registered a 54 per cent rise in revenues at Rs 6,720 crore with its subscriber base growing to 24 million capturing 16.2 per cent market share.

On a standalone basis, the company posted an increase of 13 per cent in its net profit for the quarter ended March 2008 at Rs 70.5 crore (Rs 62.3 crore). Net sales during the quarter was Rs 1,130.80 crore (Rs 859.70 crore).

For the year ended March 2008, the company's standalone net profit grew by 8 per cent to Rs 243.1 crore (Rs 225 crore). During the period, its net sales stood at Rs 3,924.20 crore, 15 per cent up, against Rs 3,420.50 crore last year.

For its outlook, the company said that investments into life insurance, BPO and garments businesses, which have strained profitability in the short term, will go a long way for value creation for shareholders.

Indoco Q4 net jumps 248%

Indoco Remedies has posted a net profit of Rs 7.31 crore for the quarter ended March 2008, up 248 per cent, compared with Rs 2.10 crore in the corresponding previous quarter. Net sales increased by 18.3 per cent to Rs 87.08 crore compared with Rs 73.60 crore in the corresponding previous quarter.

Indoco also informed the stock exchanges about changing its accounting year from July-June to April-March and about closing the books of accounts for 9 months, and accordingly current quarter is the last quarter for the financial year 2007-08.

For the nine months ended March 2008, net sales stood at Rs 262.68 crore, up 16.4 per cent, while net profit for the same period was Rs 30.01 crore, up 50.28 per cent.

"Production at our Baddi facility is now at optimum level and this has resulted in operational efficiencies. There has also been a considerable reduction in payouts associated with production outsourcing, thereby resulting in better profitability," said Suresh G Kare, chairman and managing director.

In the domestic market, Indoco's top 6 brands have grown at over 16 per cent during the period, he added.