Rolta’s Q2 consolidated PAT at Rs154.18 crore

Rolta India consolidated revenue for the December 2010 quarter stood at Rs441.15 crore compared to Rs375.56 crore in the corresponding quarter last year

IT company Rolta India Ltd said its consolidated profit after tax (PAT) (including exceptional item) for the second quarter ended 31 December 2010 increased to Rs154.18 crore from Rs62.79 crore in the corresponding quarter last year, registering a Y-o-Y growth of 145.5% and sequential growth of 106.2%.

The company's consolidated revenue for the December 2010 quarter stood at Rs441.15 crore compared to Rs375.56 crore in the corresponding quarter last year, registering a Y-o-Y growth of 17.5% and sequential growth of 3.2%.

Exceptional item for the December 2010 quarter represents gain of Rs103.65 crore (net of tax Rs76.07 crore) towards sale by the company of its 50% shares in Shaw Rolta Ltd to its joint venture partner, Stone & Webster, Inc-a subsidiary of The Shaw Group, Inc. The effective date of this transaction is 31 December 2010.

On Monday, Rolta ended 2.21% down at Rs134.70 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.37% to 18,327 points.

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Ind-Swift Q3 net profit rises 83.10% to Rs24.61 crore

Ind-Swift Laboratories net profit for the December 2010 quarter increased to Rs24.61 crore from Rs13.45 crore in the corresponding quarter last year

Pharma company Ind-Swift Laboratories Ltd said its net profit for the December 2010 quarter increased 83.10% to Rs24.61 crore from Rs13.45 crore in the corresponding quarter last year.

For the nine months ended 31 December 2010, the company reported a net profit of Rs61.22 crore as against Rs37.21 crore as on 31 December 2009, registering a growth of 64.53%.

The turnover of the company also rose by 42.90% to Rs310.11 crore in December 2010 quarter from Rs216.90 crore. For the nine months period, the company registered a total turnover of Rs722.99 crore as against Rs583.68 crore for the nine months ended 31 December 2009.

NR Munjal, vice chairman & managing director said that the company's focus on high end export markets and on block buster molecule is yielding results as company is giving sustained revenues.

The exports of the company during the December 2010 quarter increased by 37.87% to Rs120.00 crore from Rs87.03 crore in the December 2009 quarter.

On Monday, Ind-Swift ended 2.35% up at Rs95.75 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.37% to 18,327 points.

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LIC crosses 2.5 crore policies on 29th January

Life Insurance Corporation of India has received Rs34,137.12 crore in first premium income in the current financial year

Life Insurance Corporation of India has crossed the landmark of 2.5 crore policies on 29th January 2011. The Corporation has completed 2,52,44,846 policies and received Rs34,137.12 crore in first premium income in the current financial year.

The ULIP under the new IRDA guidelines have helped boost the figures substantially. The new business under the new ULIP as at 29 January 2011 read at 1,098,663 policies generating a premium of Rs5,136.25 crore.

'Endowment Plus', the plan launched on 20 September 2010 has garnered 1,017,560 policies with a first premium income of Rs4804.12 crore, during a short period of just over four months.

'Pension Plus', the only regular premium pension plan available in the market after introduction of new rules has brought in 81,103 policies with a first premium of Rs332.13 crore. The plan also has a single premium option.

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