Global Offshore reports standalone net profit of Rs42.92 crore for FY10-11

Global Offshore Services standalone net profit for the financial year ended 31 March 2011 stood at Rs42.92 crore compared to Rs40.71 crore for the last fiscal

Global Offshore Services (formerly Garware Offshore Services) said that its standalone net profit for the financial year ended 31 March 2011 stood at Rs42.92 crore compared to Rs40.71 crore for the last fiscal.

The company's total income for the FY10-11 declined to Rs171.47 crore from Rs181.47 crore in the last year.

The company has declared a third interim dividend of 5% for the FY10-11. The total interim dividend declared for the FY10-11 is 19%. Global Offshore operates a total fleet of 13 vessels.

In the early afternoon, shares of Global Offshore were trading 2.64% down at Rs128.95 on the Bombay Stock Exchange.

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BASF India profit after tax rises 22% to Rs117.83 crore for FY10-11

BASF India profit after tax increased to 22% to Rs117.83 crore for the financial year 2010-11 compared to Rs96.81 crore for the previous year

BASF India said that its profit after tax increased to 22% to Rs117.83 crore for the financial year 2010-11 compared to Rs96.81 crore for the previous year.

The company registered significant growth in sales during the 2010-11 fiscal year compared to the previous year. Its sales increased to Rs3,059.91 crore for the financial year ended 2010-11 against Rs1,381.69 crore for the last year.

"We achieved a substantial increase in sales in 2010. This demonstrates BASF's growing momentum in India," the company said in a statement.

The directors have recommended payment of dividend of Rs8 per equity share of Rs10 each (i.e. 80%) for the financial year ended 31 March 2011.

In the early afternoon, shares of BASF India were trading 2.21% down at Rs629.25 on the Bombay Stock Exchange.

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Birla Corp March quarter net down 54% at Rs63 crore on higher expenses

The company’s total expenditure in the January-March 2011 period increased to Rs520 crore compared to Rs442 crore in the previous corresponding period

New Delhi: Cement and jute maker Birla Corporation has posted a 54.14% decline in net profit at Rs63.04 crore for the quarter ended 31 March 2011, mainly on account of higher expenses. In the fourth quarter of the previous year, net profit was Rs137.50 crore, the company said in a filing to the Bombay Stock Exchange (BSE) on Thursday.

The company's net sales increased 11.05% at Rs77.44 crore in the quarter under review, compared to Rs69.73 crore in the previous corresponding period. Total expenditure was Rs520.92 crore in the January-March 2011 period, compared to Rs442.59 crore in the January-March 2010 period.

The company's board of directors has recommended a final dividend of Rs3.50 per share. Along with the interim dividend of Rs2.50 per share, the total dividend payout for 2010-11 will be Rs6 per share.

The Birla Corporation stock was down 3.5% to Rs345 at 10.30am on the Bombay Stock Exchange, in a shaky market.

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