Mumbai: Are the rich getting richer in the country? It seems so as a latest study has found that India’s High Networth Individuals (HNIs) population has touched 1,00,000 mark at the end of 2006.
Indian HNIs posted the second fastest growth of 20.5%, says the Asia-Pacific Wealth Report released by Merril Lynch and consulting firm Capgemini .
HNIs are those with net financial assets of at least $1 million, excluding their primary residence and consumables.
“Robust economic growth and strong financial markets, along with gains in income and credit expansion ... were the key drivers of growth in India’s HNI population,” DSP Merrill Lynch’s Head of Global Private Client Pradeep Dokania said.
“Indian HNIs held a combined $350 billion in financial assets at the end of 2006, 4% of total Asia Pacific HNI wealth,” the report said.Of the 100,000 HNIs in India, an estimated 858 are ultra HNIs with more than $30 million in financial assets.
In 2006, the continued expansion of India’s economy, along with India’s upbeat long term growth prospects, led to increased NRI investments into India, the report said.
“The performance of the Indian market, along with the strength of its currency, is making India more attractive to NRI investors,” Merrill Lynch’s global head of NRI markets Aseem Arora said.
DSP Merrill Lynch (DSPML) is one of India’s leading investment banking and brokerage firms and Merrill Lynch holds 90% in DSPML.
“Strong growth in HNIs’ wealth and number posed significant challenges and complexities to the financial advisory firms servicing these clients,“ Arora said.
The report has taken into account the HNI population in nine regional markets — Australia, China, Hong Kong, India, Indonesia, Japan, Singapore, South Korea and Taiwan.
Asia-Pacific had 2.6 million HNIs at the end of 2006 accounting for 27.1% of world’s HNIs population.
Among the Indian HNIs, 76% were younger than 55 years, the report revealed whereas 73% of Japanese HNIs were over that age.
“The majority of the HNIs in all markets are male, however, the proportion of male HNIs are highest in India, Australia and South Korea at more than 80%,” report said.
On the other hand females represent 43% of Taiwan’s HNI population and more than 30% in China. The wealth of Asia-Pacific HNIs grew by 10.5% to $8.4 trillion in 2006.
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17 October 2007
Sensex.... A bloodpath....largest fall
The 10 biggest falls in Sensex history
It was bloodbath at the Indian stock markets on October 17. The Sensex plunged by 1,743 points, the largest fall in a single day ever witnessed in the history of the Indian stock markets. The Sensex hit a low of 17,307.90 points within minutes of opening on Wednesday.Trading was suspended in the market for an hour.
The markets had crashed on the wake of Securities and Exchange Board of India's (Sebi) proposal to tighten the rules for purchase of shares and bonds in Indian companies through the participatory note (PN) route.
Here are the 10 biggest falls in the Indian stock market history:
May 18, 2006: The Sensex registered a fall of 826 points (6.76 per cent) to close at 11,391, it's biggest ever, following heavy selling by FIIs, retail investors and a weakness in global markets.
April 28, 1992: The Sensex registered a fall of 570 points (12.77 per cent) to close at 3,870, it's second-largest, following the coming to light of the Harshad Mehta securities scam.
May 17, 2004: Another Monday. Sensex dropped by 565 points, its third biggest fall ever, to close at 4,505. With the NDA out of power and the Left parties, part of the UPA coalition government, flexing their muscle, the Sensex witnessed its second-biggest intra-day fall of 842 points, twice attracting suspension of trading. At close, however, it regained some of its lost ground.
May 15, 2006: The market fell by 463 points to 11,822 points.
May 22, 2006: Sensex slumped by 457 points to 10,482.
May 19, 2006: Sensex slumped by 453 points to 10,939.
April 4, 2000: Sensex slumped by 361 points to 4,691.
May 12, 1992: Indian stock markets plunged 334 points to fall to 3,086.
May 14, 2004: Sensex lost 330 points to fall to 5,070.
May 6, 1992: Losing 327 points, the Sensex fell to 3,561 points.
Some related news on this day of Sensex's Largest fall:
FIIs can rollover PNs: SEBI
FM soothes crest fallen market
What are P-Notes?
Sebi clamps down on PNs
Don't get swayed by rumours: Sebi
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.rediff.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
It was bloodbath at the Indian stock markets on October 17. The Sensex plunged by 1,743 points, the largest fall in a single day ever witnessed in the history of the Indian stock markets. The Sensex hit a low of 17,307.90 points within minutes of opening on Wednesday.Trading was suspended in the market for an hour.
The markets had crashed on the wake of Securities and Exchange Board of India's (Sebi) proposal to tighten the rules for purchase of shares and bonds in Indian companies through the participatory note (PN) route.
Here are the 10 biggest falls in the Indian stock market history:
May 18, 2006: The Sensex registered a fall of 826 points (6.76 per cent) to close at 11,391, it's biggest ever, following heavy selling by FIIs, retail investors and a weakness in global markets.
April 28, 1992: The Sensex registered a fall of 570 points (12.77 per cent) to close at 3,870, it's second-largest, following the coming to light of the Harshad Mehta securities scam.
May 17, 2004: Another Monday. Sensex dropped by 565 points, its third biggest fall ever, to close at 4,505. With the NDA out of power and the Left parties, part of the UPA coalition government, flexing their muscle, the Sensex witnessed its second-biggest intra-day fall of 842 points, twice attracting suspension of trading. At close, however, it regained some of its lost ground.
May 15, 2006: The market fell by 463 points to 11,822 points.
May 22, 2006: Sensex slumped by 457 points to 10,482.
May 19, 2006: Sensex slumped by 453 points to 10,939.
April 4, 2000: Sensex slumped by 361 points to 4,691.
May 12, 1992: Indian stock markets plunged 334 points to fall to 3,086.
May 14, 2004: Sensex lost 330 points to fall to 5,070.
May 6, 1992: Losing 327 points, the Sensex fell to 3,561 points.
Some related news on this day of Sensex's Largest fall:
FIIs can rollover PNs: SEBI
FM soothes crest fallen market
What are P-Notes?
Sebi clamps down on PNs
Don't get swayed by rumours: Sebi
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.rediff.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Sensex recovers 1,500 pts; ends down 300pts
Sensex ends down at 18,716
The proposed clampdown on participatory notes (PNs) by Sebi had its desired impact on the markets - the Sensex opened with a huge negative gap of 5.3% (1,014 points) at 18,038.
The index soon plunged to a low of 17,308 - down 9.2% (1,744 points) - following which trading was suspended for one hour - only the 3rd instance in the last three years.
The first trading halt happened on May 17, 2004 when the index crashed 16.6% (a swing of 842 points) in intra-day deals following the change in government. The second instance was on May 22, 2004 when the Sensex hit the lower circuit, and the intra-day swing was 1,316 points on account of a meltdown in global metal stocks.
The statement by Finance Minister P Chidambaram that there is no proposal to ban PNs, and overseas investors are welcome to invest in India via the FII route helped the index recover after the 1-hour trading halt.
Sebi, in a clarification, reiterated that there is no proposal to ban PNs, and FIIs can write/renew PNs with a timelimit of 18 months, which also boosted sentiment.
The Sensex recovered sharply from the day's low (17,308 points) and touched an intra-day high of 18,841 points - up 1,533 points (8.9%) from the day's low.
The Sensex finally ended with a loss of 336 points (1.8%) at 18,716.
The Nifty closed at 5,559, down 109 points.
The market breadth was fairly negative - out of 2,724 stocks traded, 1,755 declined, 923 advanced and 46 were unchanged today.
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.rediff.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
The proposed clampdown on participatory notes (PNs) by Sebi had its desired impact on the markets - the Sensex opened with a huge negative gap of 5.3% (1,014 points) at 18,038.
The index soon plunged to a low of 17,308 - down 9.2% (1,744 points) - following which trading was suspended for one hour - only the 3rd instance in the last three years.
The first trading halt happened on May 17, 2004 when the index crashed 16.6% (a swing of 842 points) in intra-day deals following the change in government. The second instance was on May 22, 2004 when the Sensex hit the lower circuit, and the intra-day swing was 1,316 points on account of a meltdown in global metal stocks.
The statement by Finance Minister P Chidambaram that there is no proposal to ban PNs, and overseas investors are welcome to invest in India via the FII route helped the index recover after the 1-hour trading halt.
Sebi, in a clarification, reiterated that there is no proposal to ban PNs, and FIIs can write/renew PNs with a timelimit of 18 months, which also boosted sentiment.
The Sensex recovered sharply from the day's low (17,308 points) and touched an intra-day high of 18,841 points - up 1,533 points (8.9%) from the day's low.
The Sensex finally ended with a loss of 336 points (1.8%) at 18,716.
The Nifty closed at 5,559, down 109 points.
The market breadth was fairly negative - out of 2,724 stocks traded, 1,755 declined, 923 advanced and 46 were unchanged today.
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Day's Quote/Corporate Story
Quote of the Day
" Do not believe in examples-- believe in yourself."
Corporate/Personality of the Day
Vijay Mallya
Vijay Mallya (Kannada: ವಿಜಯ ಮಲ್ಯ) (born December 18, 1955) is an Indian businessman and Rajya Sabha MP. The son of industrialist Vittal Mallya, he is the Chairman of the United Breweries Group and Kingfisher Airlines, which draws its name from United Breweries Group's flagship beer brand, kingfisher.
In 2007 Mallya was ranked as the 664th richest person in the world with a net fortune of $1.5 billion.[1] He receives substantial press coverage that focuses on his lavish parties and his yacht, the Indian Empress.
Further, Visit: http://en.wikipedia.org/wiki/Vijay_Mallya
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" Do not believe in examples-- believe in yourself."
Corporate/Personality of the Day
Vijay Mallya
Vijay Mallya (Kannada: ವಿಜಯ ಮಲ್ಯ) (born December 18, 1955) is an Indian businessman and Rajya Sabha MP. The son of industrialist Vittal Mallya, he is the Chairman of the United Breweries Group and Kingfisher Airlines, which draws its name from United Breweries Group's flagship beer brand, kingfisher.
In 2007 Mallya was ranked as the 664th richest person in the world with a net fortune of $1.5 billion.[1] He receives substantial press coverage that focuses on his lavish parties and his yacht, the Indian Empress.
Further, Visit: http://en.wikipedia.org/wiki/Vijay_Mallya
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16 October 2007
VC Updates from VCCircle.Com
Pre-IPO Placement: Merrill Lynch Buys 5% In Broking Firm Religare For Rs 62 Crore
India May Receive As Much As $20 Billion In Private Equity By 2010
Fairfax To Raise $4 Billion By June ‘08 For Indian Firms From London’s AIM
QVC Realty Raise $200 Million In Second Round
News Round Up: Blackstone, Satyagriha Project, SCPE
Mumbai’s AK Capital Services Gets Rs 36 Crore From South Africa’s RMB
Ventureast Plans to Raise New Funds Worth $150 Million By March’08
IFC Picks Up 12.5% Stake In Angel Broking For Rs 150 Crore
ItzCash Gets $10 Million From Matrix Partners India, Intel Capital
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India May Receive As Much As $20 Billion In Private Equity By 2010
Fairfax To Raise $4 Billion By June ‘08 For Indian Firms From London’s AIM
QVC Realty Raise $200 Million In Second Round
News Round Up: Blackstone, Satyagriha Project, SCPE
Mumbai’s AK Capital Services Gets Rs 36 Crore From South Africa’s RMB
Ventureast Plans to Raise New Funds Worth $150 Million By March’08
IFC Picks Up 12.5% Stake In Angel Broking For Rs 150 Crore
ItzCash Gets $10 Million From Matrix Partners India, Intel Capital
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Other Top Stories from Leading Sources
MoneyControl.Com
IFCI to issue 40 cr shares as part of restructuring
RPL says project will be complete ahead of deadline
Sterlite Ind may demerge & list Sterlite Energy: Srcs
HDIL to develop 276 acres slum land arnd Mum airport
Sony Pictures plans exclusive deals with Reliance Retail
IFCI giving option for converting debt into equity
Rediff.Com
Sensex: 1,00,000 mark in our life time?
ICICI Venture to float $2 bn real estate fund
Education loans for budding managers
How to make money in stocks
Top 10 ELSS funds: Save tax, make money
Myiris.Com
HCL Tech acquires HCL EAI Services
Abhishek Industries to set up 3,737 mn plant
Shiv Nadar steps down as CEO of HCL Tech
DLF gets LoI for township project in Bidadi
Mercator Lines to enter dredging sector
IOL Chemicals net up 2.69 times in Sep` 07 qtr
Nagreeka Capital net at Rs 25.98 mn in Sep` 07 qtr
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IFCI to issue 40 cr shares as part of restructuring
RPL says project will be complete ahead of deadline
Sterlite Ind may demerge & list Sterlite Energy: Srcs
HDIL to develop 276 acres slum land arnd Mum airport
Sony Pictures plans exclusive deals with Reliance Retail
IFCI giving option for converting debt into equity
Rediff.Com
Sensex: 1,00,000 mark in our life time?
ICICI Venture to float $2 bn real estate fund
Education loans for budding managers
How to make money in stocks
Top 10 ELSS funds: Save tax, make money
Myiris.Com
HCL Tech acquires HCL EAI Services
Abhishek Industries to set up 3,737 mn plant
Shiv Nadar steps down as CEO of HCL Tech
DLF gets LoI for township project in Bidadi
Mercator Lines to enter dredging sector
IOL Chemicals net up 2.69 times in Sep` 07 qtr
Nagreeka Capital net at Rs 25.98 mn in Sep` 07 qtr
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ET - Headlines
India second best destination for FDI in 2007: UNCTAD
Sensex may scale 20,000 in 2-3 days: Analysts
LIC makes hay with every bull shine
India to grow by 10% annually: Lehman
Investors make Rs 2,10,000 cr in a day
India most bullish market; China 2nd: ING Research
Information is the key to SME growth
IDBI Q2 profit at Rs 155 crore
38% global companies asked to pay bribe in India: PwC
IFCI hopes to sell 26% stake in two-and-a-half months
Merrill Lynch invests $55 mn in Vestas RRB
Tatas, IOC, OIL to jointly bid for oil field in Azerbaijan
Wockhardt set to acquire US firm for $70 mn
HDIL in pact with Mumbai airport for slum project
Food Bazaar goes for regional flavour, to double by June'08
Vishal Retail opens four more stores across the country
Future Group forms JV for logistics arm
Berlin-based co wins $43 mn Delhi Metro contract
IMF lauds India's growth, says monetary policy appropriate
Canara Bank reduces interest on personal, vehicle loans
Tata Consultancy to hire 9,000 employees in Q3
HC order may have bearing on Reliance Power's IPO
Merrill buys 5% in Religare before IPO
Varun Industries IPO opens Oct 25; issue price Rs 60/share
Persistent Systems plans 49.74 lakh share IPO
New bikes top TNS consumer satisfaction ratings
BoB ties-up with Franklin Templeton
ICICI Bank top financier with $2.3 bn deals in Asia Pacific
Caterpillar buys 30% in Polyhose India
Motilal Oswal VC Advisors invests Rs 31 cr in RT Outsourcing
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Sensex may scale 20,000 in 2-3 days: Analysts
LIC makes hay with every bull shine
India to grow by 10% annually: Lehman
Investors make Rs 2,10,000 cr in a day
India most bullish market; China 2nd: ING Research
Information is the key to SME growth
IDBI Q2 profit at Rs 155 crore
38% global companies asked to pay bribe in India: PwC
IFCI hopes to sell 26% stake in two-and-a-half months
Merrill Lynch invests $55 mn in Vestas RRB
Tatas, IOC, OIL to jointly bid for oil field in Azerbaijan
Wockhardt set to acquire US firm for $70 mn
HDIL in pact with Mumbai airport for slum project
Food Bazaar goes for regional flavour, to double by June'08
Vishal Retail opens four more stores across the country
Future Group forms JV for logistics arm
Berlin-based co wins $43 mn Delhi Metro contract
IMF lauds India's growth, says monetary policy appropriate
Canara Bank reduces interest on personal, vehicle loans
Tata Consultancy to hire 9,000 employees in Q3
HC order may have bearing on Reliance Power's IPO
Merrill buys 5% in Religare before IPO
Varun Industries IPO opens Oct 25; issue price Rs 60/share
Persistent Systems plans 49.74 lakh share IPO
New bikes top TNS consumer satisfaction ratings
BoB ties-up with Franklin Templeton
ICICI Bank top financier with $2.3 bn deals in Asia Pacific
Caterpillar buys 30% in Polyhose India
Motilal Oswal VC Advisors invests Rs 31 cr in RT Outsourcing
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Result Calendar
Results on 17-Oct-2007
Polaris 17-Oct-07
Reliance Energy 17-Oct-07
Gateway Distri 17-Oct-07
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Result Updates: HCL Tech, IDBI, Tata Sponge, Blue Dart, Jubliant
HCL Technologies (standalone) net rises 28.34% in Sep `07 qtr
On consolidated basis (as per US GAAP), leading Global Technology and IT enterprise, HCL Technologies reported a rise of 42.06% in net income to USD 77.41 million, for the quarter ended Sep. 30, 2007 as compared to USD 54.49 million, for the quarter ended Sep. 30, 2006.
Total revenue for the quarter rose 42.80% to USD 429.01 million, compared with USD 300.41 million in the corresponding quarter, a year ago.
On standalone basis HCL Technologies disclosed a phenomenal jump in net profit for the quarter ended September 2007. During the quarter, the company experienced a 28.34% rise in profit to Rs 2,641.70 million, from Rs 2,058.30 million in the corresponding quarter a year ago.
Net sales for the quarter rose 23.68% to Rs 11,028.60 million, compared with Rs 8,916.40 million in the corresponding quarter, a year ago.
Total income rose 24.23% to Rs 11,461.10 million, for the quarter, ended September 2007, from Rs 9,225.20 million for the same period last year.
E T C Networks` net up 3.33 times in Sep` 07 qtr
E T C Networks, registered a 3.33 times growth in net profit to Rs 34.17 million, for the quarter ended September 2007, from a profit of Rs 10.26 million, for the quarter ended September 2006
Net Sales for the quarter rose 41.08% to Rs 134.96 million for the quarter ended September 2007, from Rs 95.66 million for the quarter ended September 2006.
Total income rose 42.86% to Rs 141.72 million for the quarter ended September 2007, from Rs 99.20 million for the quarter ended September 2006.
IDBI Bank net up 11.5% in Sep`07 qtr (update)
Industrial Development Bank of India (IDBI Bank) announced a 11.5% rise in net profit at Rs 1,555.00 million for the quarter ended September 2007 as compared to Rs 1394.00 million for the quarter ended September 2006.
Interest Earned Income rose to Rs 19,010.70 million from Rs 14,486.30 million a year ago.
Total Income rose 44%, to Rs 23,637.20 million for the quarter ended September 2007 where as the same was at Rs 16,412.40 million for the quarter ended September 2006.
Country Club India net jumps 2.15 times for Sep`07 qtr
Hyderabad-based Country Club (Q, N,C,F)* India (CCIL), an operator of chain of clubs, reported a substantial jump of 2.15 times in net profit to Rs 151 million for the quarter ended September 2007 as against Rs 70.25 million for the corresponding quarter last year.
Net sales surged 2.04 times to Rs 668.11 million for the quarter ended September 2007, from Rs 326.27 million for the quarter ended September 2006.
Tata Sponge swings to net profit for Sep `07 qtr
Tata Sponge Iron, engaged in the production of sponge iron, disclosed a phenomenal jump in net profit for the quarter ended in September 2007. During the quarter, the company swung to a net profit of Rs 178.30 million from a loss of Rs 7.40 million in the corresponding quarter a year ago.Net sales for the quarter rose 74.67% to Rs 969.10 million compared with Rs 554.80 million in the corresponding quarter, a year ago. Total income rose 86% to Rs 1,070.30 million for the quarter ended September 2007 from Rs 575.40 million for the same period last year.
Jubilant Organosys Q2 net surges 2.06 times
Jubilant Organosys, an integrated pharmaceutical industry player, registered a phenomenal growth of 2.06 times in net profit for the quarter ended June 2007. The healthy growth in sales and other income coupled with improved operating margins, helped the company post better earnings growth. During the quarter, net profit of the company jumped to Rs 1,117 million from Rs 542 million, in the same quarter last year.Net sales for the quarter climbed 20.65% to Rs 4,930 million, while the total income for the quarter rose 24.26% to Rs 5,240 million, when compared with the corresponding quarter, a year ago. Operating margins improved to 21.93%, during the quarter, a rise of 269 basis points, compared with the corresponding quarter, a year ago.
Blue Dart Express net rises 2 times for Sep `07 qtr
Blue Dart Express disclosed a phenomenal rise in net profit for the quarter ended September 2007. During the quarter, the company`s net profit rose 2 times to Rs 174 million from Rs 87 million in the corresponding quarter a year ago.Net sales for the quarter rose 17.45% to Rs 2,073 million compared with Rs 1,765 million in the corresponding quarter, a year ago. Total income rose 17.49% to Rs 2,082 million for the quarter ended September 2007 from Rs 1,772 million for the same period last year.
Further, Visit: www.myiris.com
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On consolidated basis (as per US GAAP), leading Global Technology and IT enterprise, HCL Technologies reported a rise of 42.06% in net income to USD 77.41 million, for the quarter ended Sep. 30, 2007 as compared to USD 54.49 million, for the quarter ended Sep. 30, 2006.
Total revenue for the quarter rose 42.80% to USD 429.01 million, compared with USD 300.41 million in the corresponding quarter, a year ago.
On standalone basis HCL Technologies disclosed a phenomenal jump in net profit for the quarter ended September 2007. During the quarter, the company experienced a 28.34% rise in profit to Rs 2,641.70 million, from Rs 2,058.30 million in the corresponding quarter a year ago.
Net sales for the quarter rose 23.68% to Rs 11,028.60 million, compared with Rs 8,916.40 million in the corresponding quarter, a year ago.
Total income rose 24.23% to Rs 11,461.10 million, for the quarter, ended September 2007, from Rs 9,225.20 million for the same period last year.
E T C Networks` net up 3.33 times in Sep` 07 qtr
E T C Networks, registered a 3.33 times growth in net profit to Rs 34.17 million, for the quarter ended September 2007, from a profit of Rs 10.26 million, for the quarter ended September 2006
Net Sales for the quarter rose 41.08% to Rs 134.96 million for the quarter ended September 2007, from Rs 95.66 million for the quarter ended September 2006.
Total income rose 42.86% to Rs 141.72 million for the quarter ended September 2007, from Rs 99.20 million for the quarter ended September 2006.
IDBI Bank net up 11.5% in Sep`07 qtr (update)
Industrial Development Bank of India (IDBI Bank) announced a 11.5% rise in net profit at Rs 1,555.00 million for the quarter ended September 2007 as compared to Rs 1394.00 million for the quarter ended September 2006.
Interest Earned Income rose to Rs 19,010.70 million from Rs 14,486.30 million a year ago.
Total Income rose 44%, to Rs 23,637.20 million for the quarter ended September 2007 where as the same was at Rs 16,412.40 million for the quarter ended September 2006.
Country Club India net jumps 2.15 times for Sep`07 qtr
Hyderabad-based Country Club (Q, N,C,F)* India (CCIL), an operator of chain of clubs, reported a substantial jump of 2.15 times in net profit to Rs 151 million for the quarter ended September 2007 as against Rs 70.25 million for the corresponding quarter last year.
Net sales surged 2.04 times to Rs 668.11 million for the quarter ended September 2007, from Rs 326.27 million for the quarter ended September 2006.
Tata Sponge swings to net profit for Sep `07 qtr
Tata Sponge Iron, engaged in the production of sponge iron, disclosed a phenomenal jump in net profit for the quarter ended in September 2007. During the quarter, the company swung to a net profit of Rs 178.30 million from a loss of Rs 7.40 million in the corresponding quarter a year ago.Net sales for the quarter rose 74.67% to Rs 969.10 million compared with Rs 554.80 million in the corresponding quarter, a year ago. Total income rose 86% to Rs 1,070.30 million for the quarter ended September 2007 from Rs 575.40 million for the same period last year.
Jubilant Organosys Q2 net surges 2.06 times
Jubilant Organosys, an integrated pharmaceutical industry player, registered a phenomenal growth of 2.06 times in net profit for the quarter ended June 2007. The healthy growth in sales and other income coupled with improved operating margins, helped the company post better earnings growth. During the quarter, net profit of the company jumped to Rs 1,117 million from Rs 542 million, in the same quarter last year.Net sales for the quarter climbed 20.65% to Rs 4,930 million, while the total income for the quarter rose 24.26% to Rs 5,240 million, when compared with the corresponding quarter, a year ago. Operating margins improved to 21.93%, during the quarter, a rise of 269 basis points, compared with the corresponding quarter, a year ago.
Blue Dart Express net rises 2 times for Sep `07 qtr
Blue Dart Express disclosed a phenomenal rise in net profit for the quarter ended September 2007. During the quarter, the company`s net profit rose 2 times to Rs 174 million from Rs 87 million in the corresponding quarter a year ago.Net sales for the quarter rose 17.45% to Rs 2,073 million compared with Rs 1,765 million in the corresponding quarter, a year ago. Total income rose 17.49% to Rs 2,082 million for the quarter ended September 2007 from Rs 1,772 million for the same period last year.
Further, Visit: www.myiris.com
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