Motherson Sumi Systems Q2 net profit jumps nearly six folds to Rs86 crore

Auto component maker Motherson Sumi Systems Ltd (MSSL) reported a nearly six fold increase in its net profit at Rs86 crore from Rs15 crore a year ago on robust domestic sales.

During the second quarter to end-September, its total revenues rose 19.4% to Rs1,957.6 crore from Rs1,639.1 crore, same period last year.

Vivek Chaand Sehgal, chairman, MSSL, said, "In continuation to the robust growth, this quarter has seen positive trends in the automotive industry with the Indian passenger vehicle market production registering 31%."

"On account of excellent performance of our customers we too have been able to outperform the market with a domestic sales growth of 60%," he added.

On Friday, Motherson Sumi Systems shares declined 1.9% to Rs183 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.5% up at 20,032 points.
 

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NHPC Q2 net profit up 12% to Rs690.2 crore

State-run hydro power generator NHPC Ltd reported an 11.9% increase in its net profit at Rs690.2 crore for the second quarter ended September 2010.

The power major had reported a net profit of Rs616.6 crore in the July-September quarter last fiscal, NHPC said in a filing to the Bombay Stock Exchange (BSE).

Net sales of the company also increased to Rs1,240.4 crore in the September quarter from Rs1,195.4 crore in the same period previous year.

On Friday, NHPC shares ended 0.3% down at Rs31 on the BSE, while the benchmark Sensex closed 0.5% up at 20,032 points.

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ITC Q2 net profit up 23.4% to Rs1,247 crore

Diversified business company ITC Ltd reported a 23.5% jump in its net profit to Rs1,246.7 crore for the quarter ended September 2010 from Rs1009.9 crore over the same period last fiscal.

During the period, the company's net sales stood at Rs5,061.2 crore, 16.3% increase from Rs4,352.3 crore in the corresponding quarter last fiscal.

During the quarter, its total revenue from the cigarette business increased to Rs2,550.1 crore from Rs2,259 crore, while its other FMCG business had 22% jump to Rs1,055.6 crore.

Under the FMCG segment, the group sells personal care products under brands like Fiama Di Wills, Vivel Di Wills, Vivel and Superia.

On Friday, ITC shares gained 2.3% to Rs171 on the BSE, while the benchmark Sensex closed 0.5% up at 20,032 points.
 

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