All round improvement in business and creation of a new delivery model to increase enrollments made IT training solutions provider NIIT post a 53% increase in its profit after tax (PAT) for the fourth quarter ended March 31, 2011 at R37.8 crore compared with R24.7 crore posted in the year ago period. Global system wide revenues at R516.8 crore, rose 9% from R475.6 crore in the corresponding quarter of last year. Sequentially, the PAT increased from R12.9 crore in the trailing quarter while revenues increased 24% from R414.7 crore from December 31, 2010. On the individual learning business, the company is creating a one NIIT programme as part of which all of its centres will offer all products besides creating a new delivery model to increase enrollments. The firm’s individual learning solutions (IT) recorded a 19% increase this quarter. On the school segment side, NIIT has exited many government schools which became capital intensive and is now focussing on the private school segment. For the full year ended March 31, 2011, NIIT’s PAT rose 31% to R92.2 crore from R70.2 crore in the previous year while revenues jumped 6% to R1,907 crore from Rs 1,796 crore. NIIT gets 47% revenues from India and 25% from the US and Europe.
Asian Paints Q4 net down 3% at R171.43 cr
Asian Paints on Tuesday posted a decline of 3% in its net profit at R171.43 crore in the quarter ended March 31, 2011 as compared to the corresponding quarter in the previous fiscal. The company had a net profit of R177.04 crore in the quarter ended March 31, 2010, Asian Paints said in a filing to the Bombay Stock Exchange. During the quarter under review, the company’s net sales stood at R1,607.39, an increase of 24 per cent from R1,296.09 crore posted in the year-ago period.
Generics give a fillip to Glenmark revenues
Glenmark Pharmaceuticals said its consolidated revenues stood at R2,949.07 crore for the year ended March 31, a growth of 19% year-on-year, contributed largely by a 20% increase in its generics business, and 17% growth in the speciality formulation business. For the previous financial year, revenues were to the tune of R2,484.85 crore. Revenues from the generics business for the year under review was at R1,263.25 crore, as against R1,050 crore earlier, a growth of 20%.
Glenmark posted a consolidated net profit of R457.83 crore , as compared to R331.03 crore for the previous corresponding year, an increase of 38%. The figures are not strictly comparable since Glenmark has published its results under the International Financial Reporting Standards (IFRS). Shares of the company were marginally down to close at R284.20 on the BSE on Tuesday.
RCF net profit up 38.43% to R96 crore
State-owned Rashtriya Chemicals and Fertilisers (RCF) on Tuesday reported 38.43% growth in net profit to R96.10 crore in the fourth quarter ended March 31, 2011. The company had reported a net profit of R69.42 crore in the January-March quarter of 2010, RCF said in its filing to the BSE. The company?s net sales increased to R1,619.36 crore in the quarter under review from R1,400.58 crore in the year ago period. Besides, RCF has recommended a final dividend of R1.10 per equity share of R10 each to the shareholders of the company for the year 2010-11. RCF has registered a net profit of R245.12 crore in the fiscal year ended March 2011 as compared to R234.87 crore in the previous year.
Sobha Developers Q4 net profit down 27.82%
Sobha Developers on Tuesday reported a 27.82% decline in profit for the fourth quarter ended March 31, 2010, primarily in the absence of land monetisation. The real estate developer posted a profit after tax of R40.2 crore against R55.70 crore in the corresponding period last year. Revenue during the quarter stood at R349.1 crore compared to R400.80 crore in the previous year The company said it did not monetise any land or development rights during the quarter while it had earned income of R124 crore from monetisation during the corresponding period last year.
