Bosch, on Tuesday, reported a 31per cent rise in its net profit at Rs.306.40 crore for the third quarter ended September 30, 2014 when compared to Rs.234.20 crore in the same period last year.
Net sales and income from operations increased by 16.3 per cent to Rs.2,456.70 crore, driven by the mobility solutions business — diesel and asoline systems.
The company’s domestic sales increased by 18.5 per cent and export sales grew by 3.3 per cent over the corresponding period last year, it said in a statement.
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Bosch also said that the company’s performance for the third quarter was not affected by the ongoing strike at the Bengaluru plant.
During the quarter the company witnessed a substantial increase in non-operating income due to higher sale of one-time marketable securities and other treasury related income.
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The company attributed its growth to increased price of batteries and a 28 per cent growth in sales revenue of lighting products. Reduction in finance costs also contributed to higher profits. Eveready is the market leader in batteries and flashlights, selling over 1.20 million batteries and 25 million flashlights annually. It has expanded its basket to include lights fans and power banks.
Hindustan Motors Beleaguered automobile company Hindustan Motors closed the second quarter with a loss of Rs.5.69 crore. The loss contrasts with the marginal profit reported a year ago, but is lower than the Rs.15.68 crore net loss of the quarter ending June 30, 2014.
With its production in doldrums, net income from operations shrunk to Rs.6.10 crore from Rs.104.30 crore a year ago.
The Board for Industrial and Financial Reconstruction has referred Hindustan Motors as a sick company. Its accumulated losses in the six months ended September 30, 2013, had exceeded its entire net worth.
Its mother unit at Uttarpara is under a work suspension where all the employees have been offered a VRS.
The company said that its results have been affected by adverse market conditions.
Madras Fertilizers On net sales of Rs.695.21 crore for the second quarter ended September 2014, Madras Fertilizers Ltd. (MFL) has reported net income of Rs.23.61 crore. During the same period in the corresponding period last year, MFL had posted net sales Rs.695.08 crore and net profit of Rs.17.17 crore. The urea plant was shut down for two days on account of power failure and compressor maintenance jobs, and complex fertilizer plants for 24 days due to raw materials and empty bag limitations and equipment cleaning and other maintenance jobs, MFL said in its filing to NSE.
Repco Home Repco Home Finance has posted a net profit of Rs.33 crore for the quarter ended September 30, 2014, against Rs.29 crore in the year-ago period.
Total revenues grew by 30 per cent to Rs.169 crore from Rs.130 crore. It sanctioned loans worth Rs.559 crore during Q2 of this fiscal when compared with Rs.486 crore. Total disbursements were Rs.541 crore (Rs.426 crore), said a statement.
Amara Raja Batteries Amara Raja Batteries posted a six per cent growth in net profit and a 32 per cent increase in total income compared to the second quarter of 2013-14.
While the net profit was Rs.100.30 crore (Rs.94.58 crore), total income was Rs.1,065.59 crore (Rs.807.12 crore).