On a consolidated basis, net profit of Jindal Steel & Power (JSPL) rose 6.5% to Rs 996.68 crore on 37.4% increase in net sales to Rs 4354.51 crore in Q3 December 2011 over Q3 December 2010. The company reported an increase in sales of steel products (up 18%), pellets (up 124%) and power (up 37%), while its pig iron sales were down by about 60% in Q3 December 2011 over Q3 December 2010.
JSPL said it commissioned two units of 135 megawatts (MW) (1 unit at Dongamahua in Raigarh, Chhattisgarh and 1 unit at Angul in Odisha) on 18 January 2012. With this total 6 units have been commissioned in series of total 10 units of 135 MW.
HDFC Bank, Hero MotoCorp, Bajaj Auto, Godrej Properties, Bajaj Holdings & Investment, Dish TV India, Dolphin Offshore Enterprises (India), IFCI, Mastek, Peninsula Land, SKS Microfinance, Balaji Telefilms, Info Edge (India), Infomedia 18, Hindustan Media Ventures, Century Plyboards (India) and Symphony, among others, will declare their October-December 2011 quarter results today, 19 January 2012.
On a consolidated basis, net profit of Tata Coffee fell 34.5% to Rs 21.51 crore on 18.8% increase in net sales to Rs 412.83 crore in Q3 December 2011 over Q3 December 2010. Tata Coffee said the decline in the profit was due to the poor performance of the Eight O Clock (EOC) Coffee brand, which was impacted on account of escalation in the raw material cost.
On a consolidated basis, net profit of Bajaj Finserv rose 59.3% to Rs 170.06 crore on 55.2% increase in total income to Rs 825.57 in the quarter ended December 2011 over the quarter ended December 2010.
Net profit of Mindtree rose 98.69% to Rs 60.60 crore on 35.06% rise in net sales to Rs 519.70 crore in the quarter ended December 2011 over the quarter ended December 2010.
Mahindra Satyam said that the lawsuit, which was filed by Upaid Systems (Upaid) against the company in the United States District Court, was dismissed by the court by its order dated 17 January 2012 pursuant to the settlement between the company and Upaid.
Maruti Suzuki India will reportedly buy up to 1 lakh diesel engines a year for three years from the local unit of Fiat SpA under a pact between the Italian car maker and Marutis parent, Suzuki Motor Corp. According to reports, Maruti currently sources engines from Suzuki Powertrain India, a joint venture between itself and Suzuki Motor. The engines are made using Fiats technology.
The board of Kirloskar Oil Engines will meet on 25 January 2012, to consider buyback of shares.
United Phosphorus said that the Gujarat High Court has sanctioned the scheme of amalgamation of companys overseas subsidiary, United Phosphorus (Mauritius), with the company, with reference from 1 July 2011.
Anant Raj Industries said it is launching its township project, Anant Raj Estate at Gurgaon in Haryana. The company has already obtained license for this project, which comprises of luxury villas, plots, residential flats and independent floors.
Reliance Strategic Investments, a subsidiary of Reliance Industries, has reportedly bought a 1.14% stake in DEN Networks, one of the two listed cable distribution companies in India.
Net profit of Agro Tech Foods rose 14.94% to Rs 11.23 crore in the quarter ended December 2011 as against Rs 9.77 crore during the previous quarter ended December 2010. Sales declined 7.24% to Rs 180.84 crore in the quarter ended December 2011 as against Rs 194.96 crore during the previous quarter ended December 2010.
Net profit of Premier declined 28.94% to Rs 3.56 crore in the quarter ended December 2011 as against Rs 5.01 crore during the previous quarter ended December 2010. Sales rose 17.19% to Rs 59.64 crore in the quarter ended December 2011 as against Rs 50.89 crore during the previous quarter ended December 2010.
TCI Industries reported net loss of Rs 0.10 crore in the quarter ended December 2011 as against net loss of Rs 0.11 crore during the previous quarter ended December 2010. Sales rose 42.86% to Rs 0.30 crore in the quarter ended December 2011 as against Rs 0.21 crore during the previous quarter ended December 2010.
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