Category: Breaking Corporate India Earnings News

Axis Bank has announced its unaudited results for Q3 2007-08 and for the nine months ended December 2007, following the approval of its Board of Directors in a meeting held in Mumbai on 9th January, 2008. The Net Profit for the third quarter was Rs. 306.83 crores, up by 66.20% over the Net Profit of Rs. 184.61 crores for the third quarter of last year. The Net Profit of the Bank for the nine months ended December 200 7 was Rs. 709.63 crores, up by 58.70% over the Net Profit of Rs. 447.14 crores during the first nine months of the previous year.

TRF announces receipt of an order worth Rs 961.63 million from Tata Projects for design, manufacture, procurement, supply, delivery, transportation to the site, storage, construction, erection, testing, commissioning & handing over of the coal handling plant as required by Mahagenco on back to back basis.

The board of Aditya Birla Nuvo has decided to issue 2,05,00,000 warrants of face value Rs 10 to promoter / promoter group on preferential allotment basis, entitling the holder of warrant to apply for and obtain allotment of one equity share against each warrant for an aggregate amount of Rs 4200 crore.

Further, the board has decided to convene extra ordinary general meeting for the approval of the aforesaid preferential issue / allotment on 06 February 2008.

Aditya Birla Nuvo is sort of Holding company for Kumar Birla. We don’t like and approve Kumar Birla’s style of functioning at Aditya Birla Nuvo because they have laundered big projects and money to group companies.

Patel Engineering Ltd., a civil-infrastructure construction company, has reported a 31.87 per cent jump in consolidated net profit at Rs 38.85 crore for the third quarter ended December 31, 2007 as compared to Rs 29.46 crore in the corresponding quarter previous year. Consolidated total income from operations for the quarter rose 33.34 per cent at Rs 378.85 crore as against Rs 284.12 crore during the same period previous year. The earning per share (basic and diluted of face value of Re 1) for the quarter stood at Rs 6.52 as on December 31, 2007 compared to Rs 5.09 in the corresponding quarter last year.

Meanwhile, the company has reported a 35.14 per cent jump in consolidated net profit at Rs 101.42 crore for the nine months ended December 31, 2007 as compared to Rs 75.05 crore in the corresponding quarter previous year. Total consolidated income from operations rose to 34.87 per cent at Rs 1132.87 crore as against Rs 839.95 crore during the same period previous year.

Patel Engineering order book position stood around Rs 5,508 crore as on December 31, 2007.

GMR Infrastructure has informed us that GMR Energy, the company’s 100% subsidiary company has acquired 80% stake of Himtal Hydro Power Co. on 02 January 2008. Himtal have subsisting survey licence issued by the Department of Electricity Development, Govt. of Nepal for undertaking the feasibility study and environmental impact assessment study for setting up a 250 MW upper marsyangdi—2, hydro power project, located in upper marsyangdi, Nepal.

Sun TV Network operates satellite television channels across four languages–Tamil, Telugu, Kannada and Malayalam.

The company will increase the ad rates on the Tamil channel Sun by 10-21%, Telugu Channel Gemini TV by 15%, Kannada Channel Udaya TV by 10-20%, Malayalam Channel Surya TV 3-13%. The hike in advertisement rates is over 30% for two programmes whose television rating points (TRPs) are high.

For other channels like Sun Music, Sun News, Gemini Music, Gemini News, Teja, Udaya Movies, Udaya Varthagalu, Udaya II, Kiran, the increase in advertisement rates range from 10% to 25%. Simultaneously, the slot fees (broadcast fees) received from the content producers has been increased proportionately from 15 February 2008.