Exide's lower Q2 profit

Exide Industries has achieved a turnover of Rs. 251.26 crores in the second quarter ended September 30, 2001, a growth of 1.4 per cent over the same period last year.

The profit before tax was lower at Rs. 15.40 crores against Rs. 16.88 crores and the profit after tax at Rs. 12.25 crores against Rs. 14.03 crores.

For the next half year, the new products launched are expected to yield returns to the company.

The automotive battery division has launched Exide MAX range of batteries.

It has just introduced a maintenance free battery for the tractor segment. In order to upgrade and cater to the customer needs, the company has launched all terrain battery in the automotive division.

Despite large scale imports from China, Japan and other countries, Exide has consolidated its supplies of Exide Powersafe batteries to leading companies.

Exports of industrial batteries have recorded a 84.6 per cent growth over the same period last year. The company gained popularity in South East Asia and Europe.

E.I.D. Parry (India)

E.I.D. parry has increased its turnover by 6 per cent to Rs. 724.29 crores in the half year ended September 30, 2001 from Rs. 683.55 crores.

But the gross profit before depreciation and interest charges was slightly lower at Rs. 74.92 crores against Rs. 80.59 crores in the same period last year.

Interest charges claimed Rs. 31.22 crores (Rs. 33.39 crores) and depreciation Rs. 21.46 crores (Rs. 20.74 crores).

The operating profit was lower at Rs. 22.24 crores against Rs. 26.46 crores, due to lower volume of fertilizers and lower export realisations.

After providing for current tax of Rs. 1.42 crores (Rs. 2.01 crores) and deferred tax of Rs. 5 crores, the net profit stood at Rs. 15.82 crores against Rs. 24.45 crores.

Polaris Software

Polaris Software Lab has reported a post tax profit of Rs. 15.42 crores for the second quarter ended September 30, 2001 against Rs. 14.03 crores.

The total revenue was Rs. 72.41 crores against Rs. 64.43 crores in the same period last year. The basic EPS for the quarter was Rs. 3.01 as compared to Rs. 2.74.

For the half-year ended September 30, the post tax profit was Rs. 30.97 crores (Rs. 25.07 crores) and the total revenue Rs. 143.75 crores (Rs. 117.23 crores).

MphasiS BFL

The net profit of MphasiS BFL group consolidated has spurted to Rs. 8.98 crores for the quarter ended September 30, 2001 from Rs. 2.18 crores in the corresponding quarter last year.

Consolidated revenues in the current quarter increased by 13 per cent to Rs. 76.29 crores from Rs. 67.81 crores.

The company added six new clients during this quarter and had a utilisation rate of 70 per cent. MSource, the call centre subsidiary achieved revenues of Rs. 5.35 crores against Rs. 54 lakhs in the corresponding quarter last year, according to a company release.

AVT Natural

AVT Natural Products has reported a turnover of Rs. 12.97 crores and a net profit of Rs. 1.21 crores for the second quarter ended September 30, 2001 against Rs. 18.28 crores and Rs. 2.95 crores respectively in the corresponding quarter ended September 30, 2000.

For the six months ended the turnover was Rs. 26.83 crores against Rs. 26 crores.

The loss for the period was Rs. 1.26 crores against a net profit of Rs. 1.95 crores in the corresponding six months ended September 30, 2000.

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