IRB Infra standalone net rises to Rs71.66 crore for March quarter

For the financial year ended 31 March 2011, IRB Infra standalone net profit rose by 61% to Rs90.16 crore from Rs55.84 crore in FY09-10

IRB Infrastructure Developers standalone net profit for the fourth-quarter ended 31 March 2011 increased by 53% to Rs71.66 crore from the Rs46.76 crore in the corresponding quarter last year. The company's total revenues increased by four-fold to Rs220.73 crore from Rs53.42 crore in the year-ago quarter.

For the financial year ended 31 March 2011, IRB Infra standalone net profit rose by 61% to Rs90.16 crore from Rs55.84 crore in FY09-10. The company's total revenues increased by four-fold to Rs352.99 crore from Rs76.69 crore last year.

On a consolidated basis, the company reported net profit of Rs102.76 crore in March 2011 quarter against Rs141.74 crore in the corresponding quarter last year. Total revenues increased by 54% to Rs789.86 crore from Rs513.11 crore in Q4 FY10.

For FY10-11, its net profit aggregated to Rs452.38 crore compared to Rs385.41 crore, an increase of 17%. Total revenues grew by 43% to Rs2,502.60 crore from Rs1,753.81 crore a year-ago. The company recommended a dividend of 15% or Re1.50 per equity share of Rs10 each for the fiscal year 2011.

On Friday, IRB Infra ended 1.98% down at Rs156.30 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.02% to 18,326.09.

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MRPL Q4 net jumps 119% to Rs553 crore

Net profit was up 119% to Rs553 crore in the January-March quarter as opposed to Rs253 crore in the same period an year ago

Mangalore Refinery and Petrochemical Ltd (MRPL) reported more than doubling of its net profit in the fourth quarter ending 31 March 2011 on higher refining margins.

"Net profit was up 119% to Rs553 crore in the January-March quarter as opposed to Rs253 crore in the same period an year ago," MRPL chairman AK Hazarika said.

MRPL, a subsidiary of state-owned Oil and Natural Gas Corp (ONGC), earned $9.09 on turning every barrel of crude oil into petroleum product in Q4 as against a gross refinery margin (GRM) of $5.30 per barrel, he said.

Turnover was up 40% to Rs13,599 crore, while exports rose 55% to Rs5,240 crore.

Refinery processed 3.37 million tons to crude in the quarter as compared to 3.06 million tonnes an year ago.

Hazarika, who is also the chairman and managing director of ONGC, said net profit in 2010-11 fiscal increased to Rs1,176.63 crore from Rs1,112.38 crore an year ago.

On Friday, MRPL ended 4.59% up at Rs74 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.02% to 18,326.09.

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CWG scam: CBI files charge sheet against Suresh Kalmadi

The CBI, in its over 50-page charge-sheet, has accused sacked Commonwealth Games (CWG) Organising Committee chairman Suresh Kalmadi as the key person with all the powers to take decisions regarding award of contracts

New Delhi: The Central Bureau of Investigation (CBI) today filed its first charge-sheet in a Delhi court against sacked Commonwealth Games (CWG) Organising Committee chairman Suresh Kalmadi, describing him as a "main accused" in a corruption case relating to irregularities in awarding a games-related contract to a Swiss firm, reports PTI.

The probe agency, in its over 50-page charge-sheet, has accused Mr Kalmadi as the key person with all the powers to take decisions regarding award of contracts.

"Mr Kalmadi is the main accused as he was the person with all supreme powers. He had the supreme overriding powers in the Organising Committee (OC) of the CWG, 2010," the charge-sheet said.

Special CBI judge Talwant Singh took the charge sheet into record and fixed it for taking up the issue of cognisance on it on 23rd May.

Besides Mr Kalmadi, the agency has named two companies and eight persons including former OC secretary general Lalit Bhanot and former director general VK Verma as accused and sought their prosecution under various provisions of the IPC, dealing with criminal conspiracy, forging documents and using fake documents as genuine.

According to the charge-sheet, the accused allegedly awarded the lucrative contract to the Swiss firm to install a Timing-Scoring-Result (TSR) system for the Commonwealth Games at an exorbitant cost, causing a loss of over Rs90 crore to the exchequer.

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COMMENTS

Yash Verma

6 years ago

Well done CBI, though very late. It shd have been done 3 months back at least. The man is shameless bcause even after the charge-sheet in one case, still maintains his innocence. There are other charges coming, dear Suresh bhai. Wait. This is the beginning of your end.

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