Tips Industries swings to net loss in first quarter

Tips Industries Ltd registered a net loss of Rs12.3 crore for the first quarter as against the profit of Rs1.3 crore in the same quarter last year.
In the June 2010 quarter, its total revenues increased to Rs19.5 crore from Rs5.7 crore, said the company in a filing to Bombay Stock Exchange (BSE).

The Mumbai-based company's revenues from the audio product segment rose to Rs60.2 crore from Rs59.4 crore, whereas from the film distribution segment, the revenues increased to Rs13.6 crore from Rs5.9 crore.

On Thursday, Tips Industries shares declined 0.7% to Rs43 on the BSE, while the benchmark Sensex closed flat at 18,073 points.

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Parsvnath Developers Q1 net profit up 129% to Rs32 crore

Parsvnath Developers Ltd said its first quarter net profit stood at Rs32 crore, a growth of 129%, from Rs14 crore in the same period last fiscal.

For the June 2010 quarter, Parsvnath's total revenues increased to Rs259 crore, a rise of 118%, from Rs119 crore.

On Thursday, Parsvnath Developers shares ended 2.5% up to Rs138 on the Bombay Stock Exchange, while the benchmark Sensex closed flat at 18,073 points.
 

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