Deepak Fertilisers Q3 net profit increases 23% to Rs50 crore

According to Deepak Fertilisers, profitability was affected by a weak rupee

Pune-based Deepak Fertilisers and Petrochemicals Corporation said its net profit rose by 23% to Rs49.65 crore in the quarter ended 31 December 2011, but profitability was affected by a weak rupee.

The company had reported a net profit of Rs40.26 crore for the corresponding period last fiscal, it said in a statement. "Profitability was impacted adversely to the extent of Rs22 crore by rupee depreciation," the company said.

Total income of the company grew by 60% to Rs601.49 crore in the third quarter of the current fiscal from Rs375.03 crore in the same quarter of the previous fiscal, it said.

The rise in income was driven by the strong increase in both self-manufactured fertilisers and chemicals, the statement added.

The manufacturer of complex fertilisers, Deepak Fertilisers also produces speciality chemicals and bio-fertilisers, among other products.

Deepak Fertilisers closed at Rs140.60 per share on the Bombay Stock Exchange, 1.44% up from the previous close.

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REC net profit rises to Rs769 crore in Q3 FY11-12

REC has declared an interim dividend of Rs5 per share for FY11-12

Rural Electrification Corporation (REC), which provides loans to the power sector, reported net profit of Rs769.51 crore for the three months ended December 2011.

The company had net profit of Rs664.09 crore in the corresponding period last fiscal, it said in a filing to the Bombay Stock Exchange (BSE).

In Q3 FY11-12, the company's total income rose to Rs2,699.12 crore from Rs2,175.41 crore in the year-ago period.

"Due to change in accounting policy, the profit before tax for the quarter and nine months ended 31 December 2011 is higher by Rs197.65 crore. The amount remaining to be amortised in Foreign Currency Monetary Item Translation Difference Account is Rs197.65 crore," the filing said. REC has declared an interim dividend of Rs5 per share for FY11-12.

"This interim dividend on equity shares, subject to the provisions of Section 206A of the Companies Act, 1956, will be paid on February 7, 2012," the filing noted.

REC closed at Rs198.25 per share on the Bombay Stock Exchange, 0.46% up from the previous close.

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Indian Hotels Q3 net profit stands at Rs50 crore

Indian Hotels net sales for the quarter ended 31 December 2011 increased 7.44% to Rs521.48 crore

Indian Hotels which operates hotels and resorts under the Taj brand has reported a marginal increase in its net profit at Rs50.48 crore for the third quarter ended 31 December 2011.

The company's net profit was Rs50.29 crore for the corresponding quarter of the last fiscal. In a filing to the Bombay Stock Exchange (BSE), the company said its net sales for the quarter ended 31 December 2011, increased 7.44% to Rs521.48 crore against Rs485.34 crore in the quarter ended 31 December 2010.

During the quarter under review, the company received a confirmation from its insurer of the minimum amount of net assessed insurance claim figure in respect of Taj Mahal Palace, Mumbai, totalling to Rs236.32 crore against the company accrued claim of Rs239.84 crore.

"As on date, the company has received Rs200 crore from the insurance company and balance receivable is Rs36.32 crore which is expected to be received shortly," the filing added.

The company is set to open new hotels under Vivanta brand at Bekal, Coorg and Gurgaon after having set up a new one at Coimbatore.

Indian Hotels closed at Rs64.95 per share on the Bombay Stock Exchange, 2.28% up from the previous close.

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