 Online edition of India's National Newspaper Saturday, Nov 01, 2008 ePaper | Mobile/PDA Version |
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Andhra Pradesh
Financial results announced by many companies indicate drop in profits HYDERABAD: Economic slowdown seems to have demonstrated its impact on many city-based companies. The financial results announced by many of them on Friday indicated drop in profits. Some reported flat growth with their profits taking a beating. There is a Rs. 9-crore drop in profit of GVK Power & Infrastructure Limited (GVKPIL) in the second quarter. Its net profit was pegged at Rs. 30.47 crore against Rs. 39.51 crore in the year-ago period. The company registered a total income of Rs.115.50 crore during the quarter under review against Rs.108.25 crore during the corresponding quarter of the previous year. Maytas Infra Limited achieved a turnover of Rs. 354 crore and a net profit of Rs. 17 crore for the quarter. The company’s order book stood at Rs. 11,554 crore with an employee strength of 2,962. KNR Constructions Ltd reported net sales of Rs. 126.60 crore for the quarter. The net profit for the Q2 stood at Rs. 8. 61 crore. The diluted EPS was Rs 3.06. This being the first year of the company, it has provided interim financial results for the quarter ended September 30, 2008. Comparative financial figures for the corresponding quarter in the last fiscal have not been given. Amara Raja Batteries Limited posted a Rs. 2 crore drop in net profit. Its net revenues of Rs.346.30 crore in Q2 of FY09 against Rs.259.70 crore in the corresponding quarter last year. The net profit was Rs.18.80 crore against Rs.20.60 crore in the Q2 of FY08. Due to the provision of Rs.12.90 crore towards translation loss arising out of depreciation of rupee against US dollar, the profit before and after tax was impacted. Astra Microwave Products Ltd, India’s leading provider of microwave wireless communications technologies used in defence, space, and civilian applications, posted a net profit for the Q2 Rs. 2.8 crore compared to Rs. 1.86 crore in the corresponding quarter last year. Net sales from operations were pegged at Rs. 28.6 crore against Rs. 13.36 crore.
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