Tata Motors’ Q1 net profit marginally up at Rs1,999.82 crore

Cost pressures, including commodity price increase, resulted in a reduction in the operating margins to 8.4%, and an operating profit (EBITDA) of  Rs999 crore in the quarter, declining by 15%, year-on-year

New Delhi: Tata Motors today posted 0.55% increase in its consolidated net profit for the first quarter ended 30th June 2011 at Rs1,999.82 crore, compared to Rs1,988.73 crore in the same quarter of the last fiscal, reports PTI.

Tata Motors' consolidated net sales increased 24.24% at Rs33,391.78 crore for the first quarter ended 30 June 2011, as against Rs26,876.08 crore in the same period of the previous fiscal.

Tata Motors' sales (including exports) of commercial and passenger vehicles for the quarter in review stood at 197,606 units, representing a growth of 3.8% as compared to the corresponding quarter of the previous year.

In the domestic market, the company's commercial vehicles sales increased by 13%, as compared to the corresponding quarter of the previous year to 113,186 units. The company's market share in commercial vehicles was 60.1%.

Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, declined by 10.7% in the domestic market, as compared to the corresponding quarter of the previous year to 69,529 units. The market share in passenger vehicles stood at 11.9%.

Cost pressures, including commodity price increase, resulted in a reduction in the operating margins to 8.4%, and an operating profit (EBITDA) of  Rs999 crore in the quarter, declining by 15% over  Rs1,175 crore in the corresponding quarter of the previous year.

The company's scrip closed at Rs 845.60 per share, up 0.20% from its previous close on the Bombay Stock Exchange.

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GSK Pharma Q2 net up 14% at Rs147 crore

Net sales moved up by 12.8% to Rs561.54 crore from Rs497.93 crore

GlaxoSmithKline Pharmaceuticals today said its net profit rose by 14.38% to Rs147.54 crore for the second quarter ended 30 June.

The company had posted a net profit of Rs128.99 crore in the same period previous fiscal, it said in a filing to the Bombay Stock Exchange (BSE).

Its net sales also moved up by 12.8% to Rs561.54 crore from Rs497.93 crore. The earning per share improved to Rs17.9 from Rs16.5 in the last period.

Dr Hasit B Joshipura, managing director, said, "The company's growth has been in line with the market growth. In particular, oncology, dermatologicals and mass specialty therapies have grown well. In addition to the base effect, vaccines have shown strong market competitive growth." Apart from two original products from the GSK pipeline in oncology and haematology, a branded generic a product in Stiefel-dermatology was launched during the quarter.

Shares of the company today closed at Rs2,153.60, up by 1.48% from previous close on the BSE.

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Financial Technologies Q1 net profit down 13%

The standalone net sales in the first quarter declined by 3% to Rs65.74 crore

Financial Technologies India today reported a 13% fall in its standalone net profit to Rs39.20 crore for the first quarter ended 30 June 2011.

The company had a net profit of Rs45.15 crore in the year-ago period, it said in a filing to the Bombay Stock Exchange (BSE).

The standalone net sales of the company in the first quarter declined by 3% to Rs65.74 crore compared to Rs68.07 crore in the same quarter of the previous fiscal.

Financial Technologies, a US-based group, offers technological solutions and domain expertise for creating and operating financial markets.

Shares of the company today closed at Rs719.35, down by 6.16% from previous close on the BSE.

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