Mahindra Lifespace net profit rises to Rs24.7 crore in Q2

Commercial and residential property developer, Mahindra Lifespace Developers Ltd (MLDL), said its net profit for the second quarter ended 30 September 2010 increased to Rs24.7 crore, a rise of 42%, from Rs17.3 crore.

Net sales stood at Rs89 crore, an increase of 40%, against Rs63.5 crore for the same quarter last year, said the company in a regulatory filing.

During the quarter, the company launched the final phase of its residential project Eminente in Goregaon, Mumbai, the second phase of its residential project, Aura in Gurgaon. The first phase of Aqualily apartments at Mahindra World City in Chennai was also launched during the year by Mahindra Residential Developers Ltd, a subsidiary of the company.

On Thursday, Mahindra Lifespace shares ended 1% up at Rs478 on the Bombay Stock Exchange, while the benchmark Sensex closed 2% higher at 20,260 points.
 

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Kotak Mahindra Bank net profit rises Rs364.1 crore for September quarter

Kotak Mahindra Bank Ltd said it has registered consolidated net profit of Rs364.1 crore for the quarter ended 30 September 2010 against Rs299.8 crore for the corresponding quarter of 2009.

Interest earned was Rs1,449.3 crore compared with Rs1,106 crore for the quarter ended September 2009. Interest expended was Rs606 crore against Rs426.4 crore for the previous year.

On Thursday, Kotak Mahindra shares gained 0.2% to Rs501 on the Bombay Stock Exchange, while the benchmark Sensex closed 2% higher at 20,260 points.

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Ashok Leyland reports net profit Rs167.1 crore in Q2

Automobile manufacturer Ashok Leyland Ltd said its net profit for the second quarter ended September 2010 stood at Rs167.1 crore as against Rs88.6 crore in the same quarter last year.

Net sales rose 72% to Rs2,714 crore from Rs1,577.7 crore, said the company in a statement.

The company's increase in both profits and revenue rode on a record sale of 45,989 vehicles for the first half of 2010-11.

On Thursday, Ashok Leyland shares gained 1.5% to Rs76 on the Bombay Stock Exchange, while the benchmark Sensex closed 2% higher at 20,260 points.

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