Small BusinessEveready PAT at Rs 11.03crore
Eveready Industries India has recorded a profit after tax of Rs 11.03 crore in the third quarter ended December 31, 2009, an increase of 31 per cent over the same period last year on the back of higher sales. Net sales for the quarter stood at Rs 245.96 crore, an increase of 15 per cent. Prices of zinc, a key input material, was higher during the quarter compared to the same period last year, but was compensated by the appreciating rupee during the quarter. Battery and flashlights turnover registered a growth of seven per cent and 24 per cent during the current quarter. An overseas company, Everspark Hong Kong Private Limited has been incorporated by the company for commercial benefits on the company’s sourcing of input materials and goods from China.
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Adhunik Metaliks PAT at 15.95crore
Adhunik Metaliks has reported a profit after tax (PAT) of Rs 15.95 crore for the third quarter of the present financial year, an increase of 188 per cent compared to same period last year. The company reported a reported net sales of Rs. 302.96 crore for the quarter ending 31st December, 2009, compared to Rs. 229.57 crore in the same period last year, up by 32 per cent.
Manoj K Agarwal, Managing Director of Adhunik Metaliks Ltd, said, “We are witnessing strong demand in special steel category and consequently prices are on upward trend. Our integration and optimization efforts are reaping benefits and are getting reflected in our improving margins. Recently, we have received forest and environment clearances for our captive mine in Orissa. Opening of this mine will provide further boost to our margins going forward.”
VISA Steel revenue up 56 per cent
VISA Steel, part of the Rs 5,000 crore VISA Group, recorded a 56 per cent growth in revenue during the third quarter of the current fiscal. The revenue earning of the company increased to Rs 254.52 crore compared to Rs 163.12 crore during the corresponding period of the previous fiscal. The earnings before interest, taxes, depreciation and amortization (EBIDTA) increased by 1257.28 per cent to Rs 50.71 crore compared to a loss of Rs 4.38 crore during the same period of 2008-09.While the profit before tax (PBT) increased by 209.35 per cent to Rs 24.44 crore, profit after tax (PAT) increased by 12.14 crore compared to a loss of Rs 24.75 crore during the third quarter of 2008-09.
Electrosteel net profit up 72.54 per cent
Electrosteel Castings has recorded a net profit of Rs 64.41 crore in the quarter ended December 31, 2009, an increase of 72.54 per cent over the same period last year despite a fall in net sales by 8.81 per cent to Rs 384.67 crore.The drop was mainly due to reduction in trading turnover, lower sales of by-products such as pig iron and sponge iron.
SAPL PAT at Rs 23.47crore
South Asian Petrochem Ltd (SAPL) has reported a profit after tax of Rs 23.47 crore for the quarter ended December 31, compared to a loss of Rs 15.75 crore in the corresponding quarter of last fiscal.The firm posted net sales of Rs 245.95 crore for the quarter under review, as against Rs 275.78 crore for the same period last financial year. However, the company"s foreign exchange profits were at Rs 4.56 crore for the third quarter of this fiscal. The company said that it had been allotted about 50 acres for plant expansion, for which it had already made a part payment of Rs 6.75 crore. “The survey of the land is complete and the process of possession of land is under progress,” the statement added.