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Reliance Communications (RCom) has posted a consolidated net profit of Rs 1,637 crore for first quarter ended June 30, 2009, an increase of 8.3 per cent, compared with a net profit of Rs 1,512 crore recorded during the same period of previous financial year. The net profit is after adjustment of share of minority interest and associates, the company said in a release here today. The company’s total income rose 15.5 per cent to Rs 6145.18 crore during the quarter under review, as against Rs 5,322.17 crore recorded during same period a year ago. RCom’s EBITDA rose 9 per cent to Rs 2,453 crore, while EBITDA margin was stable at 40 per cent, it said. The company’s market share increased to 23 per cent from the earlier 18 per cent, following its GSM launch

A decline in the revenues of the engineering products and services segment on account of a slowdown in the economy saw Voltas a dip of 5 per cent in its net profit to Rs 80 crore, over the same period last year. The company had a net profit of Rs 84 crore June quarter of 2008. Total income of the company rose by 18 per cent to Rs 1248 crore for the year ended March 2009, from Rs 1058 crore for the same period ended June 2009. Operating Profit (Profit before Tax and Exceptional Items) increased by 11 per cent to Rs115 crore as against Rs104 crore in the same period last year. The Company’s Electro-mechanical Projects and Services segment’s revenues grew by 45 per cent to Rs 700 crore. The order book of this segment stands at Rs 4666 crore. The Engineering Products and Services segment’s revenues declined by 16 per cent to Rs114 crore, impacted by the continuous slowdown in demand for capital equipment. The Unitary Cooling Products for Comfort and Commercial Use segment’s revenues gre

DLF has reported a 78.76 per cent plunge in its consolidated net profit to Rs 396 crore for the quarter ended June 30 due to sharp decline in demand for its housing and commercial properties. The company's profit stood at Rs 1,863.97 crore in the year-ago period, DLF said in a statement. The consolidated revenue in the first quarter fell by 56.70 per cent to Rs 1,649.86 crore compared to Rs 3,810.62 crore in the same period previous fiscal. The company said receivables from DLF Assets Ltd, a firm promoted by K P Singh to purchase commercial properties of the realty major, stands at Rs 2,600 crore compared to Rs 4,906 crore as on March 31, 2009. It is expecting another Rs 500 crore during the fiscal. DLF has reduced its net debt by over Rs 2,000 crore from about Rs 14,000 crore at the beginning of the fiscal. During the quarter, the company's land bank reduced by 2 million sq ft from 425 million sq ft due to sale of projects and land. DLF, hit by credit crunch,

ABB informed the BSE that its net profit for the second quarter ended June 30, 2009 has declined by 37 per cent at Rs 83.60 crore against the net profit of Rs 131.80 crore during the corresponding quarter i n 2008. Total revenues for the second quarter was down by 7 per cent to 1,525.90 crore from Rs 1,637.60 crore in the year-ago period. The company said it has received orders worth Rs 2,111.60 crore for the June quarter of this fiscal, a decline of 4 per cent as compared with Rs 2,208.60 crore received during the same quarter in 2008. However, its backlog of orders during the quarter wa s higher by 13 per cent to Rs 7,622.30 from Rs 6,776.90 crore in year-ago period last year.

Jain Irrigation Systems on Friday said its net profit stood at Rs 55.59 crore for the first quarter ended June 2009, while it had a net profit of Rs 29.56 crore in the same period last year. Total income rose to Rs 573.03 crore in the latest quarter, against Rs 475.94 crore in the same quarter previous quarter. Shares of Jain Irrigation Systems were trading at Rs 698 on the BSE, up 1.57 per cent from previous close.

Amara Raja Batteries Ltd informed the BSE that its net profit for the first quarter ended June 30, 2009 has increased by 185 per cent to Rs 42.57 crore as compared with Rs 14.92 crore in the corresponding quarter of last fiscal. Net sa les stood at Rs 306.37 crore for the quarter ended June 30, 2009 against Rs 313.97 crore during last year period.

Reliance Power Ltd, which is yet to start generation, has posted a net profit of Rs 263.3 crore for the first quarter of 2009-10, on a total income of Rs 335.5 crore during the period. The company, which had mobilised over Rs 11,000 crore through its initial public offer (IPO), has a cash and liquid balance of Rs 9,585.4 crore, said a press release. Work on its 600 Mw Rosa Phase-I project is ahead of schedule and is expected to start operations by year-end. Financial closure was achieved during the quarter for a total generation capacity of close to 5,000 Mw, in three projects involving a capital outlay of over Rs 25,000 crore. The projects are the 4,000 Mw Sasan Ultra Mega Power Project (UMPP) (closure in April) and the 600 Mw Rosa Phase-II and 300 Mw Butibori, a few weeks earlier. The capacity at Butibori is being expanded by another 300 Mw and the project is targeted for commissioning by March 2012. The land acquisition process, obtaining of environmental clearance and water linkage

Tata Steel reported a 47 per cent drop in net profit to Rs 789.83 crore for the first quarter ended June 30, 2009. Total income declined to Rs 5,661.89 crore during the April-June quarter from Rs 6,165.14 crore in the corresponding period a year -ago. Steel output jumped 30.51 per cent during the quarter under review at 1.54 million tonnes from 1.18 million tonnes in the comparable period last year and sales at 1.42 million tonnes as against 1.16 million tonnes. Export turnover of the company slipped to Rs 334.95 crore in the Q1, 2009 from Rs 868.13 crore in the same period of the previous fiscal.

The consolidated top line grew by 11.9%. The operating margin improved by 37 basis points year on year (yoy) mainly due to improvement in the margins of the subsidiaries. The consolidated adjusted PAT (before minority interest) declined by 4.1% to Rs125 crore. The subsidiaries’ top line grew by 4% yoy to Rs1,048.3 crore. The operating profit margin (OPM) improved by 200 basis points to 11.5%. The improvement in the subsidiaries’ margins was led by decline in the employee cost and other expenses. The employee cost and the other expenses both as percentage of sales declined by 280 and 120 basis points respectively. The company has also undertaken restructuring of its work force during the quarter on which the company incurred a cost of £4 million. The order inflow during the quarter was at Rs9,946 crore, taking the order backlog to Rs27,889.3 crore, which translated into a book-to-bill ratio of 2.34x based on FY2009 revenues. This is a marked improvement from 1.74x at the end of FY2009 a

Titan Industries Ltd reported a 41% rise in its first-quarter net profit, helped by higher watch sales, beating expectations. Titan reported April-June net profit of Rs460.4 million, on net sales of Rs8.82 billion. Revenues from its watch segment rose 21.3% to Rs2.08 billion in the quarter, while the jewellery segment grew a marginal Rs3.2 to Rs6.35 billion, as gold prices remained high in the quarter. Sales from Titan’s ‘other products’ category which include eyewear, precision engineering, machine building and clocks rose to Rs391.4 million from Rs235 million. The firm opened 18 retail stores across categories in the quarter, Titan added.

Engineering and construction firm Punj Lloyd today said its consolidated net profit rose by 13.68 per cent to Rs 127.16 crore for the first quarter ended June 30, 2009 over the same period last year. Total income rose to Rs 2,979 crore in the latest quarter from Rs 2,658.10 crore in the same period the previous fiscal. On the standalone basis, the company posted a net profit of Rs 68.72 crore for the June quarter, down 18.29 per cent from Rs 84.11 crore in the same quarter last year. Total income rose to Rs 1,932.31 crore in the latest quarter, compared with Rs 1,571. 6 crore in the same period the previous fiscal.

Reliance Power today said it has raised over Rs 20,000 crore for funding its three projects of total capacity of 5,000 Mw. "Reliance Power has raised over Rs 20,000 crore to fund three projects aggregating 5,000 Mw," a company statement said. This includes Rs 15,000 crore for the 4,000 Mw Sasan thermal power project in Madhya Pradesh. The company also plans to commission power projects worth 600 Mw capacity during the current financial year.

he company announced a 84% dip in Q1 net profit at Rs 7.77 crore from Rs 50.56 crore in the corresponding quarter in the previous fiscal. Net sales dropped 51% to Rs 912.45 crore in Q1FY10 from Rs 1,887.98 crore in Q1FY09.

Despite a drop in sales and revenue, Tata Motors has reported a 58 per cent jump in standalone net profit at Rs 514 crore for the first quarter ending June 30, 2009 against the year-ago period, thanks to a sharp fall in raw material cost and excise duty cuts. While the total revenue was down 7.6 per cent to Rs 6,404 crore, volume sales dropped by 4.3 per cent to 1.33 lakh units. Total expenditure dropped 10.6 per cent to Rs 5,917 crore. The excise duty component came down from Rs 909 crore to Rs 526 crore, thanks to the stimulus package last fiscal. The notional foreign exchange loss during the quarter is just Rs 5.54 crore against Rs 161.59 crore in the year ago period. Tata Motors also gained Rs 319 crore from disinvestment of its holding in Tata Steel during the quarter. The proceeds helped it repay $150 million of its $1-billion debt outstanding on account of the JLR acquisition. Mr P. M. Telang, Managing Director-India, said Tata Motors would begin retailing the World Truck from n

ICICI Bank reported a 68 per cent rise in consolidated net profit to Rs 1,036 crore during the quarter-ended June, 2009, as against Rs 617 crore in the corresponding period last year. The increase was despite a 0.2 per cent decline in consolidated income to Rs 14,615 crore, which was attributed to market-linked businesses such as insurance. Total income fell 2 per cent to Rs 9,223 crore and net interest income was down 5 per cent to Rs 1,985 crore during the quarter ended June 30. The bank attributed the decrease in net interest income to the 11.6 per cent fall in advances. Though treasury income of Rs 714 crore during April-June this year, as against a Rs 594-crore loss in the corresponding period last year, helped the bank, an all-round reduction in cost also boost its bottom-line in the first quarter of 2009-10. What also helped was a write back of some of the mark-to-market losses that the bank had taken on its books last year. With the bank going slow on fresh lending, advances at

UltraTech Cement: Buy UltraTech Cement is a good investment option for investors with a one/two-year perspective. A focus on the promising Western region, a first-mover advantage in capacity additions and substantial captive power capacities make UltraTech a preferred exposure within the cement sector. At its current market price of Rs 775, the stock trades at nine times its estimated 2009-10 earnings, at a discount to peers such as ACC and Ambuja Cement (12-13 times their estimated FY10 earnings). UltraTech’s sales and profits have grown at a compounded annual rate of 25 per cent and 44 per cent respectively in the last four years. The company has benefited from the Western region’s strong demand for cement, reporting an 18 per cent surge in domestic volumes and 91 per cent jump in export volumes in the June quarter. UltraTech also has a smaller presence in Southern and Central markets. The Rs 3.5-lakh-crore of industrial investments slated for Gujarat and the revival of cement export

ACC, meanwhile, reported an 85 per cent rise in its consolidated net profit at Rs 471 crore in the second-quarter ended June 30, 2009 against Rs 255 crore in the same period last year. Sales were up 15 per cent at Rs 2,188 crore (Rs 1,906 crore) in the quarter under review. The company sold 5.42 mt of cement, up two per cent from the corresponding quarter of 2008. The board of directors has approved an interim dividend of Rs 10 an equity share. Though the company has not added much in terms of capacity, demand was good in most markets where it has a presence. The 10 per cent fall in its power and fuel bill at Rs 371 crore (Rs 419 crore) also worked in its favour, said an analyst.

Maruti Suzuki India, on Thursday reported a 25.26 per cent jump in its net profit for the quarter ended June 30 at Rs 583.54 crore. The company had posted a net profit of Rs 465.85 crore in the April-June period in 2008, Maruti Suzuki India (MSI) said in a filing to the Bombay Stock Exchange. Net sales during the first quarter also soared by 34.01 per cent to Rs 6,340.26 crore from Rs 4,731.03 crore in the year-ago period, it added. MSI had sold 2,26,729 vehicles in the first quarter compared with 1,92,584 in the same period last fiscal, up 17.73 per cent.

Credit Suisse reported a second-quarter net profit of 1.6 billion Swiss francs, or $1.5 billion indicating improvement in its investment banking business. The figure was 29 percent higher than the same period a year ago, although down from the first-quarter profit of 2 billion francs. BradyDougan, the bank’s chief executive officer, said in a statement from Zurich that he expected further economic challenges globally but added, “If markets continue to improve we expect to see further momentum across all our businesses.”

BHEL has announced its Q1FY10 numbers. Its PAT (profit after tax) was up 22.42% at Rs 470.59 crore versus Rs 384.41 crore, YoY. Its income from operations increased 23.3% to Rs 5,799.59 crore versus Rs 4,703.55 crore, YoY. The company's net sales went up 29.25% at Rs 5,595.65 crore from Rs 4,329.24 crore.

Suzlon has raised $108.04 million through the issue of GDRs and another $93.87 million through bonds, the company said in a statement to BSE. The GDRs will be listed on the Luxembourg Stock Exchange. Suzlon has issued 14.6 million GDRs priced at $7.40 each and each GDR would represent four equity shares of the company. Suzlon Energy will use its GDR proceeds to reduce existing debts and fund current expansion projects, said Mr R. Madangopal, Senior Analyst at Centrum Brokerage.

Tata Steel will issue 65.4 million GDRs at $7.64 apiece, aggregating $500 million or Rs 372.2 a share. To be listed on the Professional Securities Market of the London Stock Exchange, this will be the largest ever Indian GDR offering on the LSE. A Tata Steel press release says that the GDR offering had attracted demand from good quality investors, which enabled the company to increase the size from $ 400 million to $500 million. The press release further says “Though the company has adequate liquidity with no material repayments in the next 12 months, the equity raising exercise will help in capitalising the balance sheet and enable deployment in highly attractive projects – like the ongoing expansion of Jamshedpur in India and overseas mining projects'. Each GDR represents one ordinary share of Tata Steel. The GDR price represents a discount of 10.6 per cent vis-À-vis Tata Steel’s closing price on the Bombay Stock Exchange. According to a research report from Standard Chartered ,

UltraTech Cement has reported a 58 per cent jump in net profit in the first quarter ended June 30, 2009 largely due to increase in volume growth and fall in operational costs. Mr K.C. Birla, Chief Financial Officer, UltraTech Cement, said the net profit was boosted by the 14 per cent rise in production at 4.52 million tonnes and fall in variable cost, including power and coal. “The company has access to about 236 MW of captive thermal power, catering to 80 per cent of its requirements,” he added. The domestic realisation was up 10 per cent at Rs 216 for a 50-kg bag over the last sequential quarter, while in the export market prices fell by three per cent. The coal cost in the quarter was substantially lower at $85 a tonne. The capacity utilisation remained flat at 95 per cent on expanded capacity. The company’s capacity was 23.10 million tonnes following the commissioning of an additional 1.2 million tonnes at Andhra Pradesh Cement Works. The company proposed to invest Rs 2,000 crore i

Yes Bank on Tuesday reported a 84 per cent jump in its net profit for the first quarter ended June 30 to Rs 100.07 crore, over the corresponding period a year ago. The bank had a net profit of Rs 54.33 crore during the first quarter of last financial year. Total income of the bank rose to Rs 687.85 crore in the latest quarter of current financial year, from Rs 486.19 crore of the same period a year ago. Meanwhile, Yes Bank said it plans to recruit more than 900 people in the current financial year (2009-1 0) to drive expansion in key segments. Besides, the Bank also plans to expand its Automated Teller Machines (ATMs) to 1,500 by 2012 and over 3,000 by 2015.

Camlin recorded a 87.71 per cent rise in net profit to Rs 8.01 crore for the quarter ended 30 June 2009 as against Rs 4.27 crore for the corresponding quarter of the previous year.Net Sales grew 23.60 per cent to Rs 105.8 crore Rs 85.6 crore in the year-ago quarter. Earnings Per Share for the quarter ended June’09 reached at Rs. 1.34 As against Rs. 0.71 For the corresponding quarter of the previous year.

JSW Steel saw its net profit on a consolidated basis slip 6 per cent to Rs 234.08 crore, as compared to Rs 250.23 crore for the quarter ended June 30, 2008. Total Income for the group also decreased 5 per cent to Rs 4253.52 crore from Rs 4483.79 crore for the quarter ended June 30, 2008. Group revenues from the steel business fell 9 per cent to Rs 4,121 crore from Rs 4,534 crore in the quarter ended 31, March, 2008. However, revenues from the power business grew 18.5 per cent on ayear-on-year basis to Rs 207.25 crore. On a standalone basis, the steel maker posted a 55 per cent growth in net profit after tax of Rs 340.02 crore for the quarter ended June 30, 2009 as compared to Rs 219.35 in the corresponding period last year. Total Income grew 12 per cent to Rs 4158.23 crore from Rs 3698.79 crore in the year-ago quarter. In a statement, the firm said its crude steel production was up 41 per cent to 1.376 million tonnes while sale stee sold increased 62 per cen to 1.321 million tonnes.

Gujarat NRE Coke, a leading coking coal producer, on Monday said its net profit declined by 96.14 per cent at Rs 3.64 crore for the quarter ended June 30, 2009, over the same period last year. The company had a net profit of Rs 94.40 crore in the same quarter ended June 2008, coking coal producer said in a filing to the Bombay Stock Exchange. Total income declined to Rs 310.04 crore in the latest quarter, against Rs 377.54 crore in the same period previous fiscal.

Larsen & Toubro on Thursday reported a three-fold jump in its net profit at Rs 1,598.20 crore for the quarter ended June 30, 2009, over the same period last year. The company had a net profit of Rs 502.44 crore in the same period ended June 2008, Larsen & Toubro (L&T) said in a filing to the Bombay Stock Exchange. The quarter includes exceptional gains of Rs 1,019.88 crore on sale of the company's long term investment in Ultra Tech Cement, the filing added. Total income rose to Rs 7,408.29 crore during the current quarter, against Rs 6,941.87 crore in the same quarter previous year.

Reliance Power (R-Power) has signed financing agreements with a consortium of domestic banks to secure the debt portion for the second phase of the 600-Mw Rosa Power project in Uttar Pradesh’s Shahjahanpur district. Sources said the consortium will lend around Rs 2,000 crore, of the project cost of Rs 2,700 crore. The remaining amount will be funded through equity. The company, which raised over Rs 11,000 crore through its initial public offering, is also attempting a strategic sale of 10-15 per cent equity to fund its projects. Industrial Development Bank of India (IDBI) is the lead lender. The others are Punjab National Bank, United Bank of India, Life Insurance Corporation of India, Andhra Bank, Axis Bank, Indian Bank, Karur Vysya Bank, State Bank of Bikaner and Jaipur, State Bank of Mysore, Syndicate Bank, The South Indian Bank, Oriental Bank of Commerce, Corporation Bank and Vijaya Bank, said a press release. R-Power had achieved financial closure for its Rs 19,500 crore, 4,000 Mw

Jammu and Kashmir Bank has announced its Q1FY10 numbers. Its net profit went up 23.73% to Rs 117 crore from Rs 94.56 crore, YoY. The bank's net interest income was up 17.56% to Rs 265.99 crore from Rs 226.25 crore, YoY. Bank's net interest margins improved by 10 bps. Other income of the Bank increased 78.29% to Rs 115.68 crore from Rs 64.88 crore and provisions went up at Rs 80.23 crore versus Rs 41.44 crore, YoY.

Adani Power, promoted by Adani Enterprises Limited, flagship company of Adani Group would be entering the capital markets with an initial public offering of 301,652,031 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process. The issue will open on July 28, 2009, and close on July 31, 2009. The company filed the Red Herring Prospectus (RHP) with the Registrar of Companies, Gujarat, Dadra and Nagar Haveli (RoC) on July 14, 2009. The issue would constitute 13.84% of the post-issue paid-up equity share capital of the company. The issue includes a reservation of up to 8,000,000 equity shares of Rs 10 each for eligible employees. The issue less the employee reservation portion comprises a net issue of 293,652,031 equity shares. The net issue will constitute 13.47% of the post-issue paid-up equity share capital of the company. The global coordinator and book running lead manager for the issue is DSP Merrill Lynch Limited. Other book running lead ma

HDFC Bank has posted a net profit of Rs 606.11 crore for the quarter ended June 30, 2009 as compared to Rs 464.35 crore for the quarter ended June 30, 2008. Total Income has increased from Rs 4215.15 crore for the quarter ended June 30, 2008 to Rs 5136.75 crore for the quarter ended June 30, 2009. Its Q1 net interest income was up 7.66% from Rs 1723.47 crore to Rs 1855.5 crore, YoY. The company’s other income was up 75.76% from Rs 593.2 crore to Rs 1043 crore, YoY. Its Q1 provisions are up 91.24% from Rs 344.47 crore to Rs 658.82 crore, YoY. HDFC Bank Q1 loans grew 7.7% to Rs 1.05 lakh crore Particulars Jun-09 Mar-09 Dec-08 Sep-08 Interest Earned / Operating Income 4093.1 4250.83 4468.5 3991.21 Interest on Advance 3017.75 3097.17 3337.96 3060.77 Income on Investment 1033.44 1126.39 1028.21 896.65 Interest on Balances 35.51 26.49 100.52 32.99 Others Interests 6.4 0.78 1.81 0.8 Other Income 1043.65 1114.69 939.39 643.11 Total Income 5136.75 5365.52 5407.89 4634.32 Interest Expended -223