BHEL clocks +10.6%, Wipro net up 88%,L&T net grows 10%,ZEE Tele net up 41%,SBI dips
Bhel net profit up 106% in 1QFY2000
bhel.com
State owned Bharat Heavy Electricals Ltd. (BHEL) has posted a net profit of Rs 162 m in 1QFY2000, an increase of 10.6% over the corresponding period last year. Turnover went up by 19.2% to Rs 12.3 bn (Rs 10.3 bn). Gross profit grew by 13.69% to Rs 671 m (Rs 590 m). The company provided Rs 119 m towards provision for tax. Total expenditure amounted to Rs 12 bn in 1QFY2000
29 July, 1999
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Date: 7/29/99 2:57:09 PM
Wipro net zooms 88%
wipro.com
Wipro Ltd recorded a growth of 88% in the net profit for Q1 FY2000 to Rs480mn as compared to Rs257mn last year. Sales touched Rs4.218bn compared to Rs3.331bn in the previous year. This caused the company?s shares to rise on the BSE. Wipro?s stock is trading at Rs5250 after up from Rs4900.30 earlier in the day on the BSE. The stock closed yesterday at Rs4950.
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L&T's 1Q net grows by 10% yoy
larsentoubro.com
L&T?s net profit during 1QFY00 grew by 10% yoy to touch Rs793mn, led by an 8% yoy growth in turnover at Rs15.92bn. The interest costs increased by 134% yoy at Rs837mn, as the company has ceased to capitalize interest on its cement projects (Gujarat II and Tadipatri), which were under commissioning for a large part of the last year.
In spite of the significant jump in interest costs, the company has been able to show growth in its net profits because of a sharp jump in its operating margins from 11.2% to 14%. The increase, in our opinion, is mainly led by the company?s cost cutting efforts and high volumes in the cement division. The EPC segment of the business is currently suffering from a low order book position.
However, the outlook may improve if L&T bags the fertilizer expansion projects of Kribhco, tenders for which have been recently floated. The E&C segment continues to perform well on the back of urban infrastructure and transportation project orders received in FY99.
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Zee Telefilms Q1 net shoots 41%
zeetelevision.com
Zee Telefilms Limited posted a 41% increase in net profit to Rs169.5mn for Q1 FY 2000 as against Rs120.1mn in the previous year. Advertisements booked by the company increased by 24.3% to Rs10.05bn. The merger of Zee Multimedia Worldwide with ZTL will increase the company`s equity substantially. Stock-split option is also being considered for which legal opinion will be sought.
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SBI net dips 18%
sbi.co.in
SBI?s net profit for Q1 FY2000 dipped to Rs3.48bn compared to Rs4.27bn in the last year. Its total income rose to Rs59.12bn as against Rs49.8 billion in the previous year. |
