Pratibha Industries, China Rail First Group win Rs467 crore order from DMRC

The project is scheduled to be completed in 36 months 

Pratibha CRFG JV, a joint venture between Pratibha Industries as the lead partner and China Rail First Group, has won an order of Rs467 crore from Delhi Metro Rail Corporation for two segments of the underground metro being built by DMRC. The project is scheduled for completion by May 2014.

The scope of work for this project includes designing, engineering, and construction of two sections of underground twin tunnels for the Metro Phase 3 project of Delhi Metro Rail Corporation's (DMRC) MRTS project. One section is from Janpath to Mandi House and the second section is from Janpath to Central Secretariat, including the construction of one station at Janpath and extension of a station at Mandi House.

The field construction is expected to commence in the first week of July 2011 and the project is scheduled to be completed in 36 months.  

On Monday, Pratibha ended 0.72% down at Rs55 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.82% to 17,993.33.

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Divis Labs Q4 net up 35.40% at Rs175 crore

Divis Laboratories has recommended a dividend of Rs10 per equity share of Rs2 each, (500%) for the year ended 31 March 2011

Drug firm Divis Laboratories said, backed by strong exports, its consolidated net profit rose by 35.40% to Rs175.19 crore for the fourth quarter ended 31 March 2011.

The company had posted a net profit of Rs129.38 crore for the same quarter previous fiscal, Divis Laboratories said in a filing to the Bombay Stock Exchange (BSE).

"As has been the trend, exports constituted 93% of the sales and about 75% (of exports) to the advanced markets in North America and Europe," the company said.

The company said its board of directors has recommended a dividend of Rs10 per equity share of Rs2 each, (500%) for the year ended 31 March 2011.

Consolidated net sales of the company for the fourth quarter ended 31 March 2011 rose to Rs478.61 crore over Rs314.13 crore in the corresponding period last fiscal.

The company's net profit for the year ended 31 March 2011 stood at Rs429.27 crore against Rs340.34 crore for the year ended 31 March 2010.

Net sales of the company for the year ended 31 March 2011 stood at Rs1,307.11 crore over Rs941.62 crore for the previous fiscal.

On a standalone basis, the company posted a net profit of Rs174.75 crore for the fourth quarter ended 31 March 2011 over Rs130.01 crore for the same period previous fiscal.

"The company has a total of 41 drug master files (DMFs) with the US Food and Drug Administration (USFDA) and certificate of suitability with European Directorate for 12 products," Divis Laboratories said.

On Monday, Divis Labs ended 2.31% up at Rs744.10 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.82% to 17,993.33.

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Arvind Q4 net surges over three-fold to Rs63.07 crore

Arvind director and CFO Jayesh Shah said: “We have not only achieved robust revenue growth but we also improved the operating profit margins”

Apparel and textile firm Arvind Ltd said its consolidated net profit surged over three-fold to Rs63.07 crore for the fourth quarter ended 31 March 2011 over the same period previous fiscal.

The company had reported a consolidated net profit of Rs19.81 crore in the same period last fiscal, Arvind said in a filing to the Bombay Stock Exchange (BSE).

For the year ended 31 March 2011, the company posted a net profit of Rs164.87 crore, compared to Rs49.96 crore in the previous fiscal.

Arvind director and CFO Jayesh Shah said: "We have not only achieved robust revenue growth but we also improved the operating profit margins despite sharp increase in input costs."

"We are also on track as far as our plans for unlocking the value of our land bank which will lead to significant improvement in shareholders' value," the filing added.

The company's board, which met today, has recommended fund raising up to Rs300 crore through issue of securities, it said.

The company's net sales for the year ended 31 March 2011 rose to Rs1,190.73 crore, compared to Rs739.83 crore in the previous fiscal.

The company's board has also approved the merger of Arvind Products Ltd (APL) with itself. Arvind Ltd has 54% stake in APL.

"...the proposed merger will bring significant operational synergies leading to savings in costs for the combined entity," the company said.

Consequent to the merger, share capital of Arvind Ltd will increase by Rs3.41 crore, it added. "The share exchange ratio as approved by the board is 1 share of Arvind Ltd for 11 shares of APL," it said.

On a standalone basis the company posted a net profit of Rs56.07 crore for the fourth quarter, compared to Rs15.39 crore in the same period previous fiscal.

On Monday, Arvind ended 3.15% up at Rs75.40 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.82% to 17,993.33.

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