VIP Industries Q3 consolidated net profit rises to Rs30 crore

VIP Industries Ltd said its consolidated net profit for the December 2010 quarter stood at Rs30 crore compared to Rs14.8 crore in the corresponding quarter last fiscal, a growth of 103%.

The company's consolidated sales for the December 2010 quarter increased 20% to Rs200.4 crore from Rs167.3 crore, over Q3 of the previous year.

VIP Industries standalone operating profit for Q3 was Rs33.6 crore as against Rs27.9 crore of Q3 in the previous year, a jump of 20%. The company's standalone sales in the December 2010 quarter were Rs194.4 crore compared to Rs159.6 crore for Q3 of previous year, a growth of 22%.

On Friday, VIP Industries ended 1.95% down at Rs587.15 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.54% down at 18,395.97 points. 

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IRB Infra Q3 net profit climbs 43% to Rs136 crore

IRB Infrastructure Developers (IRB) said its net profit for the December 2010 quarter stood at Rs136 crore against Rs95 crore in the same quarter a year ago, a rise of 43%.

The company's total income stood at Rs681 crore for the Q3 FY10-11 compared to Rs442 crore in the same quarter a year ago, increase of 54%.

IRB Infrastructure Developers is one of the largest toll road operating companies in India.

Virendra Mhaiskar, chairman & managing director (CMD) of IRB said, "The results reflect increased momentum in construction activities on ongoing projects. We are well-hedged at this point from increase in input cost since escalation has been factored for and we are quite confident of retaining margins going forward."

On Friday, IRB ended 5.50% down at Rs201.85 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.54% down at 18,395.97 points. 

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Hilton Group takes over Le Meridian management

Hilton Group takes over the management of the Starwood property Le Meridian

The Hilton Group said it has taken over the management of the Starwood property Le Meridian from 1st January 2011.  

The Hilton Group's newly launched property, The Hilton Mumbai International Airport has entered Mumbai. Launched keeping in mind the ever-increasing number of business travellers coming to Mumbai, the Hilton Mumbai International Airport promises to add a touch of luxury, comfort and leisure to any business trip. Designed along the lines of 19th-century summer palace, the property exudes a colonial charm and ambience that promises every guest the feel of being home-away-from home.

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