IT solutions services provider NIIT Technologies has reported a growth of 21.1% in consolidated net profit to R50 crore for the quarter ended March 31, 2011. The company had posted a net profit of R 41.3 crore for the same period last year, NIIT Technologies said. ?Strong traction in the travel space and banking financial services and insurance, as well as excellent growthin the US and Asia-Pacific region through the year, contributed to these impressive results,? NIIT Technologies CEO Arvind Thakur said. Revenues rose to R315.7 crore during the January-March quarter from R239.2 crore in the same period last year. For the full year, the company reported a jump of 44.2% in net profit to R182.2 crore and revenues grewto R1,232.3 crore, up 34.9 5%. The board has proposed a dividend of R7.5 per share of R10 face value.
BASF Q1 net income more than doubles
BASF, the world’s biggest chemicals firm, on Friday said its first quarter net income more than doubled to 2.41 billion euros ($3.5 billion) on stronger sales. The company, which has a significant presence in India, had clocked a net income of 1.02 billion euros in the January-March quarter of 2010, BASF said in a statement. Sales climbed to 19.36 billion euros in the January-March quarter of 2011 from 15.45 billion euros in the year-ago period. The company said the Cognis businesses made a significantcontribution to sales growth. Earnings before income and taxes (EBIT) grew 39% to 2.55 billion euros. Both the chemicals and plastics division witnessed a 27% jump in sales, with operating profit from chemicals accelerating 66% and plastics earnings rising 41%.
Tata Sponge Iron posts 28.42% rise in Q4 net
Tata Sponge Iron, a Tata Group company, has reported a growth of 28.42% in net profit to R42.83 crore during the quarter ended March 31, 2011. The company had reported a net profit of R33.35 crore during the same period in 2009-10. Net sales of the company rose by 14.56% during the quarter to R191.64 crore, compared to R162.79 crore during the corresponding quarter of FY’10, Tata Sponge Iron (TSIL) said in a filing to the Bombay Stock Exchange. For the entire 2010-11, the company reported a net profit of R101.34 crore, a growth of 19.90%, the filing added. TSIL had posted a net profit of R84.52 crore in 2009-10. The company’s net sales stood at R675.78 crore in FY’11, up 29.95% from R520.01 crore in 2009-10. The filing said the TSIL Board has recommended a dividend of R8 per share for 2010-11, which will amount to a cash outflow of R12.32 crore.
Cadila Healthcare Q4 net zooms by 50.69%
Buoyed by growth in all segments led by formulations business, Cadila Healthcare on Friday said its consolidated net profit rose by 50.69% to R178.97 crore for the fourth quarter ended March 31, 2011 over the same period previous fiscal. It had posted a consolidated net profit of R118.76 crore in the same period last fiscal, Cadila Healthcare said in a filing to the BSE. The company’s total income for the fourth quarter rose to R1,212.91 crore as against R846.57 crore for the corresponding period of previous fiscal.
TTK Prestige Q4 net up at R16.63 crore
TTK Prestige, part of the R1,100 crore TTK Group, has posted a 30% jump in its net profit for the quarter ended March 31, 2011. The kitchen appliances maker?s net profit for the quarter stood at R16.63 crore from R12.79 crore in the corresponding period last year. During the financial year 2010-11, the company recorded net profit of R83.75 crore, up 59.71% over last year?s profit of R52.44 crore. Sales during the year was R775.58 crore, a growth of over 50% as compared to R516.80 crore in the same period last year. The company’s net sales for the quarter was up 47% to R181.91 crore from R123.51, a year ago.
