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J K Tyre & Industries Ltd has recorded a turn over of Rs 852 crore in the second quarter ended 31 March, 2007. Profit Before Tax stood at Rs 22 crore which is five times compared to the corresponding quarter of the previous year. Sales increased by 20 per cent and operating profit at Rs 62.40 crore for the quarter recorded robust increase of 57 per cent. The company has achieved this stupendous performance through improvement in all areas of performance. Commenting on this, Dr Raghupati Singhania, vice chairman and managing director, JK Tyre & Industries said, 'With heavy investment in infrastructure and accelerated economic activity, Road transport sector and tyre industry are the natural beneficiaries. The company is well positioned to cater to the demand acceleration. The benefits of expansion of truck radial and passenger radial capacity completed last year are now being realised. Cost reduction measures initiated by the company earlier have also contributed in profitability improvement.'
Indoco Remedies turns healthy
For the third quarter ended 31 March, 2007, Indoco Remedies net sales grew by 53 per cent to Rs 73.60 crore (Rs 48.07 crore) while net profit increased by 48 per cent to Rs 2.10 crore (Rs 1.42 crore). For the nine months period ended 31March, 2007, Indoco Remedies net sales grew by 38 per cent to Rs 225.67 crore (Rs 163.13 crore) while net profit grew by 28 per cent to Rs 19.97 crore (Rs 15.64 crore). During the quarter, Indoco Remedies made its first shipment of Ciprofloxacin eye drops to USA . The company's formulation facilities in Goa were inspected by the Regulatory Authorities of South Africa and Brazil . The Baddi facility which commenced production in April last year was expanded to manufacture liquid orals.
Emirates group flying high
The Emirates group reported its 19th consecutive year of profit with a new record performance backed by continued double-digit growth. The group's net profits increased 23.5 per cent to a new high of UAE Dirhams 3.5 billion ($942 million) for the financial year ended 31 March 2007. The group's latest record performance, backed by double-digit profit and revenue growth, reflects its success in growing demand for its services, and its ability to attract more premium customers through its multi-million dollar investments in product innovations and service enhancements. This is illustrated by the three million more passengers who flew Emirates in the latest financial year, for a new record total of 17.5 million. Sheikh Ahmed of Emirates group said: 'It has been another outstanding year of continued profitability and rapid growth. These results, against a backdrop of rising costs and significant aircraft delivery delays which have impacted our capacity growth, demonstrate Emirates' ability to adapt and knuckle down to the challenge.'
Voltas net up by 164%
Voltas Limited registered
a net profit of Rs 185 crore, up by 164 per cent year-on-year for the year
ended 31 March, 2007. It's net sales/ income from operations stood at Rs
2451 crore, up by 29 per cent, year-on-year. The net profit for the quarter
was Rs 120 crore, up by 405 per cent and operating profit at Rs 60 crore,
up by 62 per cent and net sales/ income from operations at Rs 730 crore,
up by 38 per cent. The earning per share was at Rs 5.62 as against Rs 2.13.
The board of directors have recommended a dividend of 100 per cent for
the year ended 31 March, 2007 on the equity shares of Re 1 each of the
company.