ICICI Bk net down 6% at Rs 728 cr, SBI Q1 net up 15.1%, beats forecast

ICICI Bank Q1 net down 6% at Rs 728 cr

ICICI Bank, the country's largest private sector lender, today reported a 6% decline in net profit in the April-June quarter at Rs 728.01 crore as against Rs 775.08 crore in the year-ago period.
"A sharp increase in interest rates and adverse market conditions during the quarter had a negative impact of Rs 594 crore on the bank's trading portfolio and Statutory Liquidity Ratio (SLR) and its treasury income in Q1 FY'09," the bank said in a filing with the BSE.

Total income rose marginally (1.6%) to Rs 9,429.98 crore in the quarter ended June 30, 2008 from Rs 9,281.42 crore in Q1FY08.Net interest income increased 41% to Rs 2,090 crore from Rs 1,479 crore in the same period of the previous fiscal.

During the quarter ended June 30, the bank, including its subsidiaries, had total assets worth Rs 4, 84, 643 crore.Savings account deposits increased 35% to Rs 43,465 crore at the end of June 30,2008 from Rs 32,121 crore in Q1FY08. Current and savings account (CASA) deposits constituted 27.6% of total deposits when compared with 22.4% at the end of June 30, 2007.

"As on July 21, 2008, the bank had 1,388 branches and extension counters and 4,233 ATMs," the release added.Consolidated advances of the bank, its overseas banking subsidiaries and ICICI Home Finance Company increased 20% to Rs 2,57,287 crore as on June 30, 2008 from Rs 2,15,293 crore at the end of June 30, 2007.

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SBI Q1 net at Rs 1,641 cr
SBI Q1 net up 15.1%, beats forecast

Country's largest public sector bank the State Bank of India recored a 15.1 percent jump in its net profits for the first quarter of the financial year 2009. The consolidated net profit of of the bank stood at Rs 1,640.92 crore for the quarter ended June 30, 2008 against Rs 1,861.66 crore in during the corrosponding quarter of the prevous year. The figures are not comparable as the bank had changed its accounting policies with effect March 31, 2008.

The bank's total revenue during the quarter were up 25.8 percent at Rs 23,747.43 crore from Rs 18,882.57 crore last year. Shares in State Bank shares fell 31 percent in the June quarter, faring worse than the 14 percent drop in the benchmark Sensex on the Bombay Stock Exchange and a 23 percent slump in the BSE Bankex.
***************
State Bank of India, India's largest bank, posted a 15.1 per cent rise in quarterly net profit on Saturday, beating forecasts, helped by its access to low-cost funds. The state-run bank, which raised $4.1 billion in a rights issue in March, said its net profit in April-June, its fiscal first quarter, rose to 16.41 billion rupees ($388 million) from 14.26 billion rupees reported a year earlier. A Reuters poll of analysts had forecast a 2.9 percent rise in March quarter earnings to 14.67 billion rupees

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Reliance Infrastructure net up 14% at Rs 253 crore

Reliance Infrastructure owned by billionaire Anil Ambani said fiscal first quarter profit rose 14 per cent helped by higher operational efficiencies in power generation and higher orders for equipment.

Net profit of the company rose to Rs 253 crore in the three months ended June 30 compared with Rs 222 crore in the corresponding period of previous year. Total income of the company grew 32 per cent to Rs 2,618 crore, against Rs1,984 crore in the corresponding quarter of previous year.

Aggregate sales of electrical energy increased marginally by 2 per cent to 2,539 million units during the the period. However, aggregate revenues from energy sales during the quarter increased by 37 per cent to Rs 1,764 crore (Rs 1,285 crore in the corresponding quarter of previous year).

"Our Dahanu power plant operated at over 100 per cent plant load factor(PLF) and this resulted in getting better incentives from the regulator. Further, our EPC business grew by over 320 per cent," said Lalit Jalan, chief executive of Reliance Infrastructure.

Maharashtra Electricity Regulatory Authority (MERC) offers incentives mainly for better PLF, station heat rate, oil consumption and other operational efficiencies, said sources. The Company’s Dahanu Thermal Power Station achieved a PLF of 103.2 per cent, generating 1,126 million units. Dahanu's PLF was also higher at 104.5 percent achieved during the corresponding quarter of previous year.

The turnover of the EPC division of the company increased to Rs 434 crore for the quarter against Rs 339 crore in the corresponding previous period. The division had an order book position of about Rs 21,044 crore as on June 30, 2008, as against Rs 5,035 crore in the corresponding quarter of previous year. Profits from EPC and contracts were Rs47.40 crore for the period, compared to Rs17.24 crore in the corresponding previous year. Currently Reliance Infrastructure is working on 6 projects and implementing over 3,500 MW of power projects.
This will ensure an additional accounting of an average Rs5000 crore every year to the revenues of the company, at least for the next 4-5 years.

He said the company was expected to grow at least 20 per cent year on year. "Once Reliance Power's power plants take off, that will ensure us a minimum 45 per cent growth, which will catapult Reliance Infrastrcture", said Jalan. Reliance Infrastrcture will be the EPC contractor for most of the 28,000 MW of power to be added by Reliance Power. Infrastructure business, another area of focus for company, is also expected to give good returns in future. The company is constructing five road projects in Tamil Nadu, two metro rail projects in Mumbai and Delhi and a business district in Hyderabad.

Other Income for the quarter under review was Rs 420 crore as against Rs 360 crore in the corresponding quarter of previous year. The Company's Earnings Before Interest, Depreciation and Tax (EBIDT) was Rs 396 crore (US$ 92 million) during the quarter, against Rs 398 crore in the corresponding quarter of previous year.
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Divi's Laboratories net profit rises 43.40% in the June 2008 quarter
Net profit of Divi's Laboratories rose 43.40% to Rs 96.48 crore in the quarter ended June 2008 as against Rs 67.28 crore during the previous quarter ended June 2007. Sales rose 16.66% to Rs 266.07 crore in the quarter ended June 2008 as against Rs 228.07 crore during the previous quarter ended June 2007

Motherson Sumi Systems net profit declines 57.66% in the June 2008 quarter
Net profit of Motherson Sumi Systems declined 57.66% to Rs 12.72 crore in the quarter ended June 2008 as against Rs 30.04 crore during the previous quarter ended June 2007. Sales rose 14.68% to Rs 346.38 crore in the quarter ended June 2008 as against Rs 302.04 crore during the previous quarter ended June 2007

Seshasayee Paper & Boards net profit declines 45.49% in the June 2008 quarter
Eicher Motors net profit declines 37.65% in the June 2008 quarter

Bombay Rayon Fashions net profit rises 58.41% in the June 2008 quarter
Net profit of Bombay Rayon Fashions rose 58.41% to Rs 34.93 crore in the quarter ended June 2008 as against Rs 22.05 crore during the previous quarter ended June 2007. Sales rose 36.68% to Rs 275.07 crore in the quarter ended June 2008 as against Rs 201.25 crore during the previous quarter ended June 2007

PTC India net profit rises 58.67% in the June 2008 quarter
Net profit of PTC India rose 58.67% to Rs 18.85 crore in the quarter ended June 2008 as against Rs 11.88 crore during the previous quarter ended June 2007. Sales rose 3.85% to Rs 1203.10 crore in the quarter ended June 2008 as against Rs 1158.55 crore during the previous quarter ended June 2007.

Dolphin Offshore Enterprises (India) net profit rises 241.70% in the June 2008 quarter
Elgi Equipments net profit rises 10.09% in the June 2008 quarter

UCO Bank net profit rises 0.43% in the June 2008 quarter
Net profit of UCO Bank rose 0.43% to Rs 133.44 crore in the quarter ended June 2008 as against Rs 132.87 crore during the previous quarter ended June 2007. Total operating income rose 20.36% to Rs 1837.45 crore in the quarter ended June 2008 as against Rs 1526.66 crore during the previous quarter ended June 2007.

Techno Electric & Engineering Company net profit rises 147.42% in the June 2008 quarter
Reliance Infrastructure net profit rises 13.98% in the June 2008 quarter
Dhanalakshmi Bank net profit rises 57.36% in the June 2008 quarter
ICICI Bank net profit declines 6.07% in the June 2008 quarter
State Bank of India net profit rises 15.08% in the June 2008 quarter

Vijaya Bank reports net loss of Rs 76.64 crore in the June 2008 quarter
Vijaya Bank reported net loss of Rs 76.64 crore in the quarter ended June 2008 as against net profit of Rs 111.35 crore during the previous quarter ended June 2007. Total operating income rose 32.37% to Rs 1188.96 crore in the quarter ended June 2008 as against Rs 898.23 crore during the previous quarter ended June 2007.

Take Solutions reports net profit of Rs 7.37 crore in the June 2008 quarter
JM Financial net profit rises 600.00% in the June 2008 quarter
Mangalore Chemicals & Fertilizers net profit declines 26.35% in the June 2008 quarter

Source: UTVi,CM,BS,ET

ET Top Stories:

ET Top stories

Sensex loses way in Asian meltdown
Anil Ambani becomes richer by Rs 27,000 cr after SP-UPA realignment
US stocks end higher
Oil falls below $123 as rally fizzles
HUL beats St, net up 13%
PSU initial offers may get delayed

R-Power to raise $4 bn through ECB
Tough time going for banks
Grasim net flat at Rs 671 crore
Pay income tax through any bank a/c
UTV Motion Pictures amongst US top 20 distributors

Reliance, Tata among 22 firms in race for CTL project
L&T in talks with global nuclear power companies for JV
Forex reserves plunge $1.4 billion to $307 billion
Indian CEOs see GDP growing by 7.6% in FY09: Survey
Bear market turns PE attractive, 150 deals likely in Q3
Job done, SP may give Manmohan company in govt

SOurce:ET

Results: HUL, ABB, MRPL, HCC, Indian Hotels, Exide, Indiabulls, Grasim, Ambuja Cements,Tata power, Jindal Steel, RNRL, Nag.Fert etc

Mangalore Refinery And Petrochemicals net profit rises 129.39% in the June 2008 quarter
Net profit of Mangalore Refinery And Petrochemicals rose 129.39% to Rs 845.40 crore in the quarter ended June 2008 as against Rs 368.55 crore during the previous quarter ended June 2007. Sales rose 44.10% to Rs 10662.46 crore in the quarter ended June 2008 as against Rs 7399.55 crore during the previous quarter ended June 2007.

Lakshmi Vilas Bank net profit declines 71.64% in the June 2008 quarter

J B Chemicals & Pharamaceuticals net profit rises 344.30% in the June 2008 quarter
Net profit of J B Chemicals & Pharamaceuticals rose 344.30% to Rs 13.64 crore in the quarter ended June 2008 as against Rs 3.07 crore during the previous quarter ended June 2007. Sales rose 30.88% to Rs 137.91 crore in the quarter ended June 2008 as against Rs 105.37 crore during the previous quarter ended June 2007.


Jindal Steel & Power net profit rises 60.85% in the June 2008 quarter
Net profit of Jindal Steel & Power rose 60.85% to Rs 402.30 crore in the quarter ended June 2008 as against Rs 250.11 crore during the previous quarter ended June 2007. Sales rose 54.96% to Rs 1895.31 crore in the quarter ended June 2008 as against Rs 1223.13 crore during the previous quarter ended June 2007

Sonata Software net profit rises 71.45% in the June 2008 quarter
Net profit of Sonata Software rose 71.45% to Rs 13.27 crore in the quarter ended June 2008 as against Rs 7.74 crore during the previous quarter ended June 2007. Sales rose 19.81% to Rs 55.35 crore in the quarter ended June 2008 as against Rs 46.20 crore during the previous quarter ended June 2007.

Gujarat State Petronet net profit rises 82.65% in the June 2008 quarter
Net profit of Gujarat State Petronet rose 82.65% to Rs 32.64 crore in the quarter ended June 2008 as against Rs 17.87 crore during the previous quarter ended June 2007. Sales rose 24.73% to Rs 119.49 crore in the quarter ended June 2008 as against Rs 95.80 crore during the previous quarter ended June 2007.

Indian Hotels Company net profit rises 11.89% in the June 2008 quarter
Net profit of Indian Hotels Company rose 11.89% to Rs 61.27 crore in the quarter ended June 2008 as against Rs 54.76 crore during the previous quarter ended June 2007. Sales rose 8.78% to Rs 376.91 crore in the quarter ended June 2008 as against Rs 346.50 crore during the previous quarter ended June 2007.

Andhra Bank net profit declines 44.99% in the June 2008 quarter
Net profit of Andhra Bank declined 44.99% to Rs 77.62 crore in the quarter ended June 2008 as against Rs 141.09 crore during the previous quarter ended June 2007. Total operating income rose 16.97% to Rs 1157.36 crore in the quarter ended June 2008 as against Rs 989.45 crore during the previous quarter ended June 2007

Hindustan Motors reports net loss of Rs 8.36 crore in the June 2008 quarter
Vipul net profit rises 11.13% in the June 2008 quarter
GRUH Finance net profit rises 54.37% in the June 2008 quarter
Hind Rectifiers net profit declines 10.80% in the June 2008 quarter



Emami net profit rises 12.94% in the June 2008 quarter
Net profit of Emami rose 12.94% to Rs 11.17 crore in the quarter ended June 2008 as against Rs 9.89 crore during the previous quarter ended June 2007. Sales rose 16.90% to Rs 122.79 crore in the quarter ended June 2008 as against Rs 105.04 crore during the previous quarter ended June 2007

Redington India net profit rises 26.75% in the June 2008 quarter
Net profit of Redington India rose 26.75% to Rs 15.07 crore in the quarter ended June 2008 as against Rs 11.89 crore during the previous quarter ended June 2007. Sales rose 15.03% to Rs 1490.87 crore in the quarter ended June 2008 as against Rs 1296.02 crore during the previous quarter ended June 2007.

Suven Life Sciences net profit declines 49.21% in the June 2008 quarter

SRF net profit declines 18.44% in the June 2008 quarter
Net profit of SRF declined 18.44% to Rs 45.69 crore in the quarter ended June 2008 as against Rs 56.02 crore during the previous quarter ended June 2007. Sales rose 16.31% to Rs 470.65 crore in the quarter ended June 2008 as against Rs 404.65 crore during the previous quarter ended June 2007.

M M Forgings net profit rises 25.95% in the June 2008 quarter

3i Infotech net profit rises 76.14% in the June 2008 quarter
Net profit of 3i Infotech rose 76.14% to Rs 37.73 crore in the quarter ended June 2008 as against Rs 21.42 crore during the previous quarter ended June 2007. Sales rose 15.20% to Rs 136.87 crore in the quarter ended June 2008 as against Rs 118.81 crore during the previous quarter ended June 2007.

Noida Toll Bridge Company net profit rises 11.76% in the June 2008 quarter
Net profit of Noida Toll Bridge Company rose 11.76% to Rs 7.32 crore in the quarter ended June 2008 as against Rs 6.55 crore during the previous quarter ended June 2007. Sales rose 34.98% to Rs 19.41 crore in the quarter ended June 2008 as against Rs 14.38 crore during the previous quarter ended June 2007.

India net profit declines 3.29% in the June 2008 quarter
Gujarat State Fertilizers & Chemicals net profit rises 30.93% in the June 2008 quarter
Amara Raja Batteries net profit declines 16.69% in the June 2008 quarter

Ambuja Cements net profit declines 32.51% in the June 2008 quarter
Net profit of Ambuja Cements declined 32.51% to Rs 577.02 crore in the quarter ended June 2008 as against Rs 855.01 crore during the previous quarter ended June 2007. Sales rose 8.20% to Rs 1569.77 crore in the quarter ended June 2008 as against Rs 1450.74 crore during the previous quarter ended June 2007.


Alphageo (India) net profit rises 397.55% in the June 2008 quarter
Net profit of Alphageo (India) rose 397.55% to Rs 12.19 crore in the quarter ended June 2008 as against Rs 2.45 crore during the previous quarter ended June 2007. Sales rose 118.10% to Rs 45.06 crore in the quarter ended June 2008 as against Rs 20.66 crore during the previous quarter ended June 2007.

CEAT reports net loss of Rs 10.67 crore in the June 2008 quarter

Karnataka Bank net profit declines 60.03% in the June 2008 quarter
Net profit of Karnataka Bank declined 60.03% to Rs 20.70 crore in the quarter ended June 2008 as against Rs 51.79 crore during the previous quarter ended June 2007. Total operating income rose 26.53% to Rs 457.90 crore in the quarter ended June 2008 as against Rs 361.89 crore during the previous quarter ended June 2007.


Reliance Natural Resources net profit rises 6.78% in the June 2008 quarter
Net profit of Reliance Natural Resources rose 6.78% to Rs 16.07 crore in the quarter ended June 2008 as against Rs 15.05 crore during the previous quarter ended June 2007. Sales rose 102.82% to Rs 53.97 crore in the quarter ended June 2008 as against Rs 26.61 crore during the previous quarter ended June 2007.


Nagarjuna Fertilizers & Chemicals net profit declines 1.54% in the June 2008 quarter
Net profit of Nagarjuna Fertilizers & Chemicals declined 1.54% to Rs 7.04 crore in the quarter ended June 2008 as against Rs 7.15 crore during the previous quarter ended June 2007. Sales rose 44.37% to Rs 433.55 crore in the quarter ended June 2008 as against Rs 300.30 crore during the previous quarter ended June 2007.

Dredging Corporation of India net profit declines 54.66% in the June 2008 quarter
Net profit of Dredging Corporation of India declined 54.66% to Rs 24.45 crore in the quarter ended June 2008 as against Rs 53.92 crore during the previous quarter ended June 2007. Sales rose 0.93% to Rs 196.00 crore in the quarter ended June 2008 as against Rs 194.20 crore during the previous quarter ended June 2007.


Nava Bharat Ventures net profit rises 118.92% in the June 2008 quarter
Net profit of Nava Bharat Ventures rose 118.92% to Rs 126.91 crore in the quarter ended June 2008 as against Rs 57.97 crore during the previous quarter ended June 2007. Sales rose 64.77% to Rs 290.48 crore in the quarter ended June 2008 as against Rs 176.29 crore during the previous quarter ended June 2007.

Engineers India net profit rises 32.99% in the June 2008 quarter
Net profit of Engineers India rose 32.99% to Rs 50.63 crore in the quarter ended June 2008 as against Rs 38.07 crore during the previous quarter ended June 2007. Sales rose 67.75% to Rs 252.44 crore in the quarter ended June 2008 as against Rs 150.49 crore during the previous quarter ended June 2007.

Hindustan Unilever net profit rises 13.20% in the June 2008 quarter
Net profit of Hindustan Unilever rose 13.20% to Rs 558.18 crore in the quarter ended June 2008 as against Rs 493.08 crore during the previous quarter ended June 2007. Sales rose 21.09% to Rs 4215.67 crore in the quarter ended June 2008 as against Rs 3481.40 crore during the previous quarter ended June 2007.

Varun Industries reports net profit of Rs 6.21 crore in the June 2008 quarter

IndusInd Bank net profit rises 44.48% in the June 2008 quarter
Net profit of IndusInd Bank rose 44.48% to Rs 19.10 crore in the quarter ended June 2008 as against Rs 13.22 crore during the previous quarter ended June 2007. Total operating income rose 22.31% to Rs 528.18 crore in the quarter ended June 2008 as against Rs 431.84 crore during the previous quarter ended June 2007.

Karur Vysya Bank net profit declines 36.31% in the June 2008 quarter
Net profit of Karur Vysya Bank declined 36.31% to Rs 30.54 crore in the quarter ended June 2008 as against Rs 47.95 crore during the previous quarter ended June 2007. Total operating income rose 27.91% to Rs 327.67 crore in the quarter ended June 2008 as against Rs 256.18 crore during the previous quarter ended June 2007.


Tata Power Company net profit rises 0.18% in the June 2008 quarter
Net profit of Tata Power Company rose 0.18% to Rs 190.55 crore in the quarter ended June 2008 as against Rs 190.20 crore during the previous quarter ended June 2007. Sales rose 34.05% to Rs 2026.13 crore in the quarter ended June 2008 as against Rs 1511.48 crore during the previous quarter ended June 2007


Whirlpool of India net profit rises 198.73% in the June 2008 quarter
Ipca Laboratories net profit declines 31.94% in the June 2008 quarter
Mukta Arts reports net loss of Rs 0.71 crore in the June 2008 quarter

Reliance Power reports net profit of Rs 59.71 crore in the June 2008 quarter
Reliance Power reported net profit of Rs 59.71 crore in the quarter ended June 2008. There were no sales reported in the quarter ended June 2008.

ABB net profit rises 21.42% in the June 2008 quarter
Net profit of ABB rose 21.42% to Rs 131.81 crore in the quarter ended June 2008 as against Rs 108.56 crore during the previous quarter ended June 2007. Sales rose 15.38% to Rs 1616.30 crore in the quarter ended June 2008 as against Rs 1400.88 crore during the previous quarter ended June 2007.

Godrej Consumer Products net profit declines 4.22% in the June 2008 quarter
Pratibha Industries net profit rises 93.82% in the June 2008 quarter
Net profit of Pratibha Industries rose 93.82% to Rs 11.61 crore in the quarter ended June 2008 as against Rs 5.99 crore during the previous quarter ended June 2007. Sales rose 169.67% to Rs 177.82 crore in the quarter ended June 2008 as against Rs 65.94 crore during the previous quarter ended June 2007.

Educomp Solutions net profit rises 180.90% in the June 2008 quarter
Net profit of Educomp Solutions rose 180.90% to Rs 16.77 crore in the quarter ended June 2008 as against Rs 5.97 crore during the previous quarter ended June 2007. Sales rose 152.40% to Rs 69.41 crore in the quarter ended June 2008 as against Rs 27.50 crore during the previous quarter ended June 2007


Union Bank of India net profit rises 1.42% in the June 2008 quarter
Net profit of Union Bank of India rose 1.42% to Rs 228.29 crore in the quarter ended June 2008 as against Rs 225.10 crore during the previous quarter ended June 2007. Total operating income rose 19.99% to Rs 2533.21 crore in the quarter ended June 2008 as against Rs 2111.15 crore during the previous quarter ended June 2007

Oriental Bank of Commerce net profit rises 58.44% in the June 2008 quarter
Net profit of Oriental Bank of Commerce rose 58.44% to Rs 220.52 crore in the quarter ended June 2008 as against Rs 139.18 crore during the previous quarter ended June 2007. Total operating income rose 27.35% to Rs 1953.72 crore in the quarter ended June 2008 as against Rs 1534.14 crore during the previous quarter ended June 2007.


eClerx Services net profit rises 56.05% in the June 2008 quarter
Net profit of eClerx Services rose 56.05% to Rs 15.87 crore in the quarter ended June 2008 as against Rs 10.17 crore during the previous quarter ended June 2007. Sales rose 62.37% to Rs 42.15 crore in the quarter ended June 2008 as against Rs 25.96 crore during the previous quarter ended June 2007.

Grasim Industries net profit rises 0.49% in the June 2008 quarter
Net profit of Grasim Industries rose 0.49% to Rs 514.19 crore in the quarter ended June 2008 as against Rs 511.66 crore during the previous quarter ended June 2007. Sales rose 6.44% to Rs 2592.33 crore in the quarter ended June 2008 as against Rs 2435.47 crore during the previous quarter ended June 2007.

Alstom Projects India net profit rises 4.57% in the June 2008 quarter
Net profit of Alstom Projects India rose 4.57% to Rs 18.30 crore in the quarter ended June 2008 as against Rs 17.50 crore during the previous quarter ended June 2007. Sales rose 51.06% to Rs 364.50 crore in the quarter ended June 2008 as against Rs 241.30 crore during the previous quarter ended June 2007.


Hindustan Construction Company net profit declines 11.84% in the June 2008 quarter
Net profit of Hindustan Construction Company declined 11.84% to Rs 30.84 crore in the quarter ended June 2008 as against Rs 34.98 crore during the previous quarter ended June 2007. Sales rose 18.77% to Rs 865.89 crore in the quarter ended June 2008 as against Rs 729.04 crore during the previous quarter ended June 2007



Gateway Distriparks net profit rises 17.06% in the June 2008 quarter
Net profit of Gateway Distriparks rose 17.06% to Rs 20.58 crore in the quarter ended June 2008 as against Rs 17.58 crore during the previous quarter ended June 2007. Sales rose 50.56% to Rs 47.08 crore in the quarter ended June 2008 as against Rs 31.27 crore during the previous quarter ended June 2007.

Indiabulls Securities net profit declines 15.68% in the June 2008 quarter
Net profit of Indiabulls Securities declined 15.68% to Rs 37.49 crore in the quarter ended June 2008 as against Rs 44.46 crore during the previous quarter ended June 2007. Sales rose 14.97% to Rs 121.31 crore in the quarter ended June 2008 as against Rs 105.51 crore during the previous quarter ended June 2007.

I-Flex Solutions net profit rises 58.38% in the June 2008 quarter
Net profit of I-Flex Solutions rose 58.38% to Rs 92.18 crore in the quarter ended June 2008 as against Rs 58.20 crore during the previous quarter ended June 2007. Sales rose 20.32% to Rs 462.80 crore in the quarter ended June 2008 as against Rs 384.64 crore during the previous quarter ended June 2007.


Emkay Global Financial Services net profit declines 83.61% in the June 2008 quarter
TTK Prestige net profit rises 19.16% in the June 2008 quarter
Wire & Wireless India reports net loss of Rs 19.74 crore in the June 2008 quarter

Indiabulls Financial Services net profit rises 102.84% in the June 2008 quarter
Net profit of Indiabulls Financial Services rose 102.84% to Rs 105.11 crore in the quarter ended June 2008 as against Rs 51.82 crore during the previous quarter ended June 2007. Sales rose 308.85% to Rs 464.66 crore in the quarter ended June 2008 as against Rs 113.65 crore during the previous quarter ended June 2007.

Exide Industries net profit rises 17.24% in the June 2008 quarter
Net profit of Exide Industries rose 17.24% to Rs 82.20 crore in the quarter ended June 2008 as against Rs 70.11 crore during the previous quarter ended June 2007. Sales rose 36.54% to Rs 906.53 crore in the quarter ended June 2008 as against Rs 663.92 crore during the previous quarter ended June 2007.


Source: CM

Sensex plummets 502 pts on global weakness

Sensex plummets 502 pts on global weakness

As global markets plunged on concerns over mounting credit losses, blue chip stocks, barring a select few, reeled under a sustained onslaught and ended with big losses on the Indian bourses this afternoon. So weak was the sentiment that not even some good report cards from India Inc could pull the market out of the red today. The mood was also dampened on reports that a few blasts rocked Bangaluru this afternoon.


The bulls who had taken a retreat yesterday after holding sway for five successive sessions were not to be seen anywhere near the ring today. Bank and oil stocks were among the biggest losers. Realty, capital goods, power and metal stocks had a weak outing as well. A host of stocks from auto and IT sectors too wilted under pressure. Select pharma and FMCG stocks bounced back and closed with notable gains.

As selling interest centred around large caps today, mid and small cap stocks signed off without much damage.

The Sensex, which opened with a negative gap of around 325 points at 14,451.95 and crashed to a low of 14,210.63 in late afternoon trade, ended at 14,274.94 with a stunning loss of 502.07 points or 3.4%. The Nifty settled with a loss of 121.70 points or 2.74% at 4311.85, a few points off its low of 4297.15.

Ranbaxy Laboratories (3.15%), ACC (2.45%), Hindustan Unilever (1.95%), Satyam Computer Services (1.45%), NTPC (1.15%), Grasim Industries (0.7%) and Reliance Communications (0.35%) were the Sensex stocks that managed to close on a positive note today.

ICICI Bank (down 9.6%), HDFC Bank (down 7.15%), Reliance Industries (down 6.9%) and HDFC (down 5.65%) were severely hammered today. Jaiprakash Associates, ONGC, Reliance Infrastructure and BHEL lost 4% - 4.5%. Realty stock DLF and engineering major Larsen & Toubro eased by 3.2% and 3.15% respectively.

Tata Motors, Cipla, Tata Steel and State Bank of India lost 2% - 3%. Hindalco, Ambuja Cements, Infosys Technologies, Mahindra & Mahindra, Tata Consultancy Services, ITC lost 0.5% - 1.5%. Maruti Suzuki eased by around half a per cent while Wipro and Bharti Airtel ended with minor losses.

ABB, Tata Communications, Reliance Petroleum, Sterlite Industries, Sun Pharmaceuticals, Tata Power, HCL Technologies, GAIL India, Zee Entertainment, Suzlon Energy, SAIL and Unitech closed with sharp losses. Nalco moved up by 4.65%. Punjab National Bank, BPCL, Idea Cellular and Siemens settled with sharp to moderate gains.

Mangalore Refineries & Petrochemicals soared 16.7% on buoyant quarterly results. JP Hydropower, Neyveli Lignite Corporation, United Phosphorus, Ispat Industries, Oriental Bank of Commerce, Phoenix Mills, Jai Corp, Piramal Healthcare, India Cements, HMT, Petronet LNG, Jet Airways, Glenmark Pharmaceuticals, Max India, Tata Teleservices, India Bulls Financial Services and Rolta India ended with handsome gains.

Axis Bank, Canara Bank, Karnataka Bank, Yes Bank, Kotak Bank, Federal Bank, Andhra Bank, Indian Bank and Corporation Bank were among the prominent losers among bank stocks besides the three heavyweights. Midcap stocks 3i Infotech, Ess Dee Aluminium, Honeywell Automation, United Breweries, Shree Cements, Renuka Sugars, Advanta, Sadbhav Engineering, IB Securities, KS Oils, Godfrey Philips, Balrampur Chini and Petronet LNG closed with impressive gains.

The market breadth was weak. Out of 2691 stocks traded on BSE today, 1154 stocks closed with gains. 1460 stocks posted losses and 77 stocks ended flat.

Source:Sify