ICSA Q1 net profit declines to Rs27.9 crore

ICSA (India) Ltd, the embedded technology based products developer, said its net profit declined to Rs27.9 crore for the 30 June 2010 quarter as against Rs34 crore in the same quarter a year ago.

During the June 2010 quarter, the company's total revenues increased to Rs307.2 crore from Rs305.7 crore in June 2009 quarter, ICSA said in a regulatory filing.

On Friday, ICSA shares ended 0.8% down at Rs132 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% lower at 18,143 points.

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ABC Bearings Q1 net profit rises to Rs5.9 crore

Mumbai-based ABC Bearings Ltd said its first quarter net profit rose to Rs5.9 crore from Rs2.4 crore in the same quarter a year ago.

In the June 2010 quarter, the company's total revenues increased to Rs49 crore from Rs30.4 crore a year ago.

On Friday, ABC Bearings shares rose 1.5% to Rs172 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% lower at 18,143 points.

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BGR Energy signs JVs with Hitachi for setting up manufacturing facility

Chennai-based BGR Energy Systems Ltd said it signed a joint venture agreements with Japan-based Hitachi Ltd and Germany-based Hitachi Power Europe GmbH to set up boiler and turbine manufacturing facility with an investment of Rs3,000 crore in India.

BGR Turbines Company (P) Ltd, the joint venture between BGR and Hitachi, will have its manufacturing facility in Tamil Nadu in which BGR Energy will hold 74% stake while Hitachi will hold the rest.

BGR's second joint venture with Hitachi Power Europe will be for supercritical steam generators for thermal power plants.

On Friday, BGR Energy shares gained 1.8% to Rs797 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% lower at 18,143 points.

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