Net profit of India's largest aluminium maker by sales fell lesser-than expected 31 % to Rs 480.56 crore and sales 16.2% to Rs 3870.90 crore in QI June 2009 over QI June 2008. The performance was much better than what brokers and analysts expected. However, earning cannot be compared with the corresponding quarter in the previous year due to early adoption of the AS-30 accounting standards. AS-30 was issued by the Council of the Institute of Chartered Accountants of India and came into effect from I April 2009. The standard - which typically recognises and measures financial assets, financial liabilities and contracts to buy or sell non-financial items - becomes mandatory only after I April 2011. Separately, Hindalco said its board approved a proposal to raise funds up to US$ 500 million (around Rs 2400 crore) through a qualified institution placement issue or a global depository receipt share issue.
Net profit of the Delhi-based real-estate developer fell 52.7% to Rs 142.50 crore and sales 54.6% to Rs 335.52 crore in QI June 2009 over Ql June 2008. Unitech is reported to have raised Rs 5400 crore selling shares and properties in Ql June 2009. The company sold Rs 2790 crore of shares in June 2009 in addition to Rs 1620 crore of shares in April 2009 and disposed of properties for Rs 1000 crore in June 2009. The cash will help the developer cut debt and spend on new projects.
Net profit of world's sixth largest steel maker by sales fell 46.9% to Rs 789.83 crore and sales 8.8% to Rs 5554.02 crore in Q I June 2009 over Q I June 2008. Steel output of jumped 30.51 % to 1.54 million tonnes and sales 22.41 % to 1.42 million tonnes in Q I June 2009 over Q I June 2008. Export turnover, however, slipped 61.41 % to Rs 334.95 crore in Q I June 2009 over Q I June 2008. Tata Steel will announce consolidated earning, including data from Corus, end August 2009.
Net profit of the Mumbai-based steel maker climbed 55% to Rs 340.02 crore and sales 6.1 % to Rs 3893.87 crore in Ql Jun.e 2009 over Ql June 2009. Consolidated net profit fell 6.5% to Rs 234.08 crore and sales 10.5% to Rs 3990.19 crore in QI June 2009 over QI June 2009. Rise in standalone net profit was helped by higher volumes and lower production costs. JSW's crude steel production grew 41 % and saleable steel 62% compared with the previous year. The steelmaker cut its production cost by 24% to US$ 315 per tonne and plans to lower it further to US$ 275 a tonne in the next fiscal.
Consolidated net profit of India's third largest software outsourcer by sales moved up I % to Rs 1015.50 crore even as consolidated sales fell 3% to Rs 6273.90 crore in QI June 2009 over Q4 March 2009. Wipro expects 0.91 % to 1.9% growth in consolidated revenue from IT Services business at between US$ 1035 million to US$ 1053 million in Q2 September 2009 over QI June 2009. The guidance is based on constant currency exchange rates.
Net profit of the Uttar Pradesh-based infrastructure developer rose 292.3% to Rs 491.18 crore and sales 78.3% to Rs 2067.08 crore in Ql June 2009 over Ql June 2008. The higher-than-forecast net profit was due to a one-time extraordinary profit, higher cement despatches and an increase in construction activity. The company made an extraordinary profit of Rs 374 crore through sale of treasury shares. JAL has merged with itself its four subsidiaries - Jaypee Hotel, Jaypee Cement, Gujarat Anjan Cement and Jaiprakash Enterprises -leading to the formation of treasury shares. Since a parent company cannot
Net profit of the Delhi-based real-estate developer fell 52.7% to Rs 142.50 crore and sales 54.6% to Rs 335.52 crore in QI June 2009 over Ql June 2008. Unitech is reported to have raised Rs 5400 crore selling shares and properties in Ql June 2009. The company sold Rs 2790 crore of shares in June 2009 in addition to Rs 1620 crore of shares in April 2009 and disposed of properties for Rs 1000 crore in June 2009. The cash will help the developer cut debt and spend on new projects.
Net profit of world's sixth largest steel maker by sales fell 46.9% to Rs 789.83 crore and sales 8.8% to Rs 5554.02 crore in Q I June 2009 over Q I June 2008. Steel output of jumped 30.51 % to 1.54 million tonnes and sales 22.41 % to 1.42 million tonnes in Q I June 2009 over Q I June 2008. Export turnover, however, slipped 61.41 % to Rs 334.95 crore in Q I June 2009 over Q I June 2008. Tata Steel will announce consolidated earning, including data from Corus, end August 2009.
Net profit of the Mumbai-based steel maker climbed 55% to Rs 340.02 crore and sales 6.1 % to Rs 3893.87 crore in Ql Jun.e 2009 over Ql June 2009. Consolidated net profit fell 6.5% to Rs 234.08 crore and sales 10.5% to Rs 3990.19 crore in QI June 2009 over QI June 2009. Rise in standalone net profit was helped by higher volumes and lower production costs. JSW's crude steel production grew 41 % and saleable steel 62% compared with the previous year. The steelmaker cut its production cost by 24% to US$ 315 per tonne and plans to lower it further to US$ 275 a tonne in the next fiscal.
Consolidated net profit of India's third largest software outsourcer by sales moved up I % to Rs 1015.50 crore even as consolidated sales fell 3% to Rs 6273.90 crore in QI June 2009 over Q4 March 2009. Wipro expects 0.91 % to 1.9% growth in consolidated revenue from IT Services business at between US$ 1035 million to US$ 1053 million in Q2 September 2009 over QI June 2009. The guidance is based on constant currency exchange rates.
Net profit of the Uttar Pradesh-based infrastructure developer rose 292.3% to Rs 491.18 crore and sales 78.3% to Rs 2067.08 crore in Ql June 2009 over Ql June 2008. The higher-than-forecast net profit was due to a one-time extraordinary profit, higher cement despatches and an increase in construction activity. The company made an extraordinary profit of Rs 374 crore through sale of treasury shares. JAL has merged with itself its four subsidiaries - Jaypee Hotel, Jaypee Cement, Gujarat Anjan Cement and Jaiprakash Enterprises -leading to the formation of treasury shares. Since a parent company cannot
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