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Gitanjali Gems today reported a decline of 6.29 per cent in its consolidated net profit at Rs 150.58 crore for the year ended March 31, 2009, over the same period in the previous fiscal. The company had a net profit of Rs 160.69 crore in the same period ended March 2008, Gitanjali Gems said in a filing to the Bombay Stock Exchange. Net sales of the company rose to Rs 5,088.87 crore for the year ended March 2009, against Rs 4,831.73 crore in the same period last year.

Gujarat NRE Coke declared its FY09 and fourth quarter results. The company's FY09 consolidated net sales were up at Rs 1,522.6 crore versus Rs 887 crore. Its FY09 consolidated profit after tax (PAT) was down at Rs 90.76 crore versus Rs 127.32 crore. The company's Q4 net sales were slumped to Rs 214.58 crore versus Rs 380.6 crore on year-on-year (YoY) basis. In Q4, the company registered a net loss of Rs 103 crore versus a profit of Rs 64 crore on YoY basis.

Larsen & Toubro Ltd (L&T) has bagged six electrical project orders aggregating to Rs 1,230 crore in the domestic market. This includes four orders valued at Rs 1,031 crore for transmission line &railway construction, and two orders worth Rs 199 crore for the construction of sub-stations. These projects will be executed by Electrical & Gulf Projects Operating Company (E& GP OC) part of L&T’s Construction Division.

Motherson Sumi Systems today reported increase of 19.47 per cent in its consolidated net profit to Rs 76.90 crore for the quarter ended March 31, 2009, over the same period last year. It had a consolidated net profit of Rs 64.37 crore in the period ended March 2008. Total consolidated income also increased by 41.09 per cent to Rs 843.25 crore from Rs 597.65 crore in the corresponding month last year, the company said in a statement. For the financial year 2008-09, the company's consolidated net profit, however, marginally declined to Rs 176.25 crore from Rs 177.86 crore in the previous fiscal, it added. The total consolidated income during FY09 jumped by 28.66 per cent to Rs 2,639.74 crore from Rs 2,051.75 crore in FY08, the company said. The company's board has recommended a dividend of Rs 1.35 per share for 2008-09 fiscal, the statement added.

Suzlon Energy posted a net profit of Rs 314.9 crore for the fourth quarter ended March 31 on a consolidated basis, 32 per cent lower than the Rs 464.8 crore in the corresponding quarter of the previous year. The losses are mainly on account of foreign exchange loss of over Rs 300 crore, a blade retrofit programme costing Rs 103 crore and mark-to-market losses on foreign exchange transactions worth Rs139 crore. Net sales for the quarter increased 86.4 per cent to Rs 9,207.9 crore, compared with Rs 4939.1 crore in the corresponding quarter in 2007-08. On an annual basis for the quarter, consolidated net profit fell by 77 per cent to Rs 236 crore, from Rs 1,030 crore in the previous period. Revenues increased by 91 per cent to Rs 26,082 crore for 2008-09, compared with Rs 13,679 crore the year before.

Tata Steel has reported a 61 per cent drop in its consolidated net profit at Rs 4,849 crore for the year ended March 31, 2009, against Rs 12,322 crore registered in the same period last year mainly due to a sharp fall in demand in Europe and South Asia. The copany has incurred an additional costs of Rs 4,094.53 crore in for restructuring, impairment and disposals. Total income, including that of Corus, increased by 12 per cent to Rs 1,47,329 crore in FY’09 (Rs 1,31,534 crore). Had the company followed the practice of recognising changes in actuarial valuations of pension plans of Tata Steel Europe in the profit and loss account, the consolidated profit after taxes, minority interest and share of profit of associates would have been lower by Rs 5,497 crore.

KS Oils Ltd said on Wednesday that it has acquired additional 35,000 acres of palm plantation land in Indonesia. With this acquisition, KS Oils’ palm plantation land bank assets in Indonesia stand at 85,000 acres with 50,000 acres being acquired in 2008.

Spice Communications today reported a net loss of Rs 1,015.22 crore for the 15 months ended March 31, 2009 The company's net sales stood at Rs 1,580.47 crore for the period ended March 2009, against Rs 957.84 crore in the fiscal ended December 31, 2007, Spice Communications said in a filing to the Bombay Stock Exchange. During the financial year, the stake of Idea in the company stands at 41.09 per cent effective October 16, 2008, the filing added.

India's gems and jewellery exports dropped 24% to $1.5 billion in May 09 over May 08 mainly on account of slump in demand in its major markets like the US and Europe.   Exports of cut and polished diamonds were hit badly during the month registering a decline of 30.74 per cent compared to the same period last fiscal, followed by coloured gemstones and gold jewellery shipments which slipped by 25.49 per cent and 11.61 per cent respectively, the figures released by the Gems and Jewellery Export Promotion Council (GJEPC) showed.