Bajaj Auto net rises 10%; Grasim PAT at Rs 418 cr

PUNE, MUMBAI, OCT 18:  Bajaj Auto Ltd has posted a 10 per cent growth in net profit (after prior period adjustments) of Rs 317.59 crore for the quarter ended September 30, 2006 as compared to Rs 289.36 crore for the quarter ended September 30, 2005. Total Income (net of excise) for quarter increased to Rs 2,578.40 crore from Rs 2,003.15 crore in Q2 of 2005-06. PBT for the quarter was Rs 443.9 up from Rs 402.81 in Q2 of 2005-06. Bajaj Auto’s investment portfolio value has gone up by Rs 3,086 crore in six months. Bajaj’s investment portfolio is valued at Rs 78,825 crore as on September 30, 2006 up from Rs 75,739 as of March 31, 2006. The cost of the investment as of September 30, 2006 was Rs 60,188. Non-operating income for Q2 from investments was Rs 131 crore compared to Rs 121.7 crore same time last year. The second quarter of 2006-07 saw motorcycle sales grow by 40 per cent to 6,23,061 from 4,45,557 units same time last year. Total two and three wheeler sales growth was at 27 per cent with sales of 7,08,124 units up from 5,55,552 units. Bajaj’s market share in H1 of 2006-07 increased by three per cent to 34 per cent in motorcycles.

Grasim sales grows 36%

 
Grasim Industries, Aditya Birla Group’s flagship company, registered a growth of 108.7% in their net profit at Rs 418.3 crore for the second quarter, against Rs 200.4 crore during the year-ago period. Net sales of the company grew 35.9% to Rs 3,183.8 crore against Rs 2,343.5 crore during the year-ago period. "The three major factors that spurred performance are growth in volumes, higher realisations and savings in operating costs resulting from ongoing modernisation efforts, up-gradation of plants and energy optimisation," says DD Rathi, CFO of Grasim Industries. The cement business of the company has done well mainly due to good pricing, demand and higher realisation. The company’s sponge iron business continues to bleed mainly due to shortage in gas supply to its plants and high cost of production.

Hindalco net zooms 90%

Hindalco Industries Ltd, the non-ferrous company of the Aditya Birla Group, has registered a growth of 90% in its net profit at Rs 597.6 crore for the second quarter of FY 07 against last year’s Rs 313.8 crore. The company’s net sales grew 74% to Rs 4,634 crore against Rs 2,659.3 crore during the year-ago period. Driven by strong Aluminium prices on the LME, aluminium business revenues increased 31% from Rs 1412.60 crore to Rs 1,852 crore. Even as increased raw material prices exerted pressure on margins, profit soared by 54% to Rs. Rs. 671.00 Crores, contributing 75% of the total EBIDTA. In the copper business, revenues rose 123% to Rs 2,782.50 crore, buoyed by the sustained high copper prices.

NPIL net up 17.7%

Nicholas Piramal India Limited (NPIL) has reported a net profit of Rs 53.69 crore for the second quarter ended September 30, 2006, up 17.7%. Consolidated revenues were up by 79.3% to Rs 650 crore over the corresponding period last year. During the quarter, NPIL’s domestic branded formulations business reported a robust growth of 22%. As per ORG-IMS MAT August-06 reports, NPIL continues to be the second fastest growing company among the Top-10 companies.