Money Matters Financial records FY net profit Rs125.57 crore

Mumbai-based Money Matters Financial Services Ltd said its full year net profit increased to Rs125.57 crore compared to net profit of Rs102.65 crore, a year ago.

On a standalone basis, the company has posted a net profit of Rs113.59 crore for the full year as compared to net profit of Rs101.44 crore for the year to end-March 2009. Money Matters is one of the major investment banks in India.

On Monday, the company’s shares closed 7.2% higher at Rs571 on the Bombay Stock Exchange, while the Sensex ended at 0.6% up at 17,937 points.

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India Motor Parts’ FY net profit rises to Rs24.8 crore from Rs17.4 crore

India Motor Parts & Accessories Ltd, a TVS Group Co, reported a full year net profit of Rs24.79 crore compared to net profit of Rs17.37 crore the previous year. During the period to end-March, the company’s total revenues increased to Rs359.3 crore from Rs301.5 crore. The company is engaged in sales and distribution of automotive spares.

On Monday, India Motor Parts & Accessories shares closed 1.4% down at Rs601 on the Bombay Stock Exchange, while the Sensex ended at 0.6% up at 17,937 points.

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Bhilwara Energy sells 10.8% stake to IFC, ICEF for $50 million

RSWM Ltd said it will divest its stake in Bhilwara Energy Ltd (BEL) to two foreign investors as part of its plan to fund its power projects in India and Nepal. This will reduce RSWM’s stake in BEL to 17.4% from 19.5% through divestment of 10.8% stake by BEL for Rs230 crore, it said in a regulatory filing.

BEL will sell its 10.85 stake to two investors Washington-based IFC and India Clean Energy Fund for $50 million ($25 million each by both the parties) taking total foreign investment in the company to 17%.

Other LNJ Bhilwara Group companies, HEG Ltd and RSWM hold 28.9% and 19.5% respectively in BEL before current round of dilution. The balance is held by the promoters directly.

On Monday, RSWM shares gained 6.2% at Rs132 while HEG shares closed 1.1% down at Rs344 on the Bombay Stock Exchange. The Sensex ended at 0.6% up at 17,937 points.

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