426 companies aggregate net profit up 74.90% in Q2

An analysis of 426 major companies on October 31, based on the India Inc. result meter of Myiris.com, for which second quarter (Q2) results were available, reveals that the aggregate net profit of these companies grew 74.90% to Rs 410.63 billion during July-September 2009 from Rs 234.78 billion during July-September 2008.

Significant increase in net profit was observed in case of companies like Apollo Tyres, Bharat Seats, Sakthi Sugars, Shilpa Medicare, Shree Rani Sati Investment & Finance, Signet Overseas ,Urja Global…

On a year on year basis, the net profit of Apollo Tyres surged 13.11 times to Rs 1,021.09 million, during July-September 2009 from Rs 77.90 million in the same quarter previous year; Bharat Seats net profit zoomed 20.36 times to Rs 13.44 million from Rs 0.66 million of prior year period; Sakthi Sugars net profit galloped 19 times to Rs 43.39 million, from Rs 21.68 million for the prior year period; Shilpa Medicare net profit surged 11 times to Rs 126.34 million from Rs 10.77 million of the prior year period; Shree Rani Sati Investment & Finance net profit zoomed 22 times to Rs 5.5 million from Rs 0.25 miilion of the prior year period; Signet Overseas net profit zoomed 14 times to Rs 60 million from Rs 5.13 miilion of the prior year period; Urja Global net profit zoomed 124 times to Rs 1.24 million from Rs 0.01 million of the prior year period.

Looking at the sector wise performance, taking into consideration the above 426 companies:-

Sugar: J K Sugar, K C P Sugar & Industries Corporation, Sakthi Sugars and Venus Sugar, the results for which are available, have witnessed over 15 fold year on year growth of aggregate net profit, during July-September 2009, at Rs 657.38 million as against Rs 41.33 million in the same quarter of the previous year.

Tyres: Apollo Tyres and Indag Rubber, the results for which are available, have witnessed over 11 fold, year on year rise in aggregate net profit, during July-September 2009 at Rs 1052.62 million, as against Rs 89.69 million in the same quarter of the previous year.

Plantation: Diana Tea Company, Highland Industries , M M Rubber Company, Tata Coffee and Tata Tea so far, has recorded more than four fold rise in aggregate net profit, during July-September 2009, at Rs 2,722.89 million as against Rs 575.04 million for the same quarter of the previous year.

The companies whose performance have been adversely affected in terms of net profit, to name a few are Ispat Industries, IBN18 Broadcast, Infomedia 18, Tata Teleservices(Maharashtra), Max India, Hindustan Construction Company, Gujarat NRE Coke.

During the quarter, Ispat Industries net loss increased to Rs 794.10 million compared with a loss of Rs 267.40 million in the same quarter last year; IBN18 Broadcast net loss rose to Rs 598.66 million compared with a loss of Rs 107.94 million in the same quarter previous year; Infomedia 18 net loss rose to Rs 598.66 million compared with a loss of Rs 107.94 million in the same quarter previous year; Tata Teleservices (Maharashtra) loss for the quarter widened to Rs 1,079.80 million compared with a loss of Rs 473.55 million in the same quarter last year; Max India net profit fell 83.21% to Rs 19.70 million as against profit of Rs 117.30 million for the quarter ended Sep. 30, 2009; Hindustan Construction Company net profit declined by 72.35% to Rs 55.15 million as compared to Rs 199.44 million for the quarter ended Sep. 30, 2008; Gujarat N R E Coke net profit declined 80.33% to Rs 202.10 million from Rs 1,027.50 million in the same quarter last year.

On the other hand aggregate revenues of the 426 companies under consideration, during July-September 2009, on a year on year basis, witnessed a fall of 8.27% to Rs 4,237.06 billion, as against Rs 4,618.9 billion in the same quarter of the previous year.

Significant decline in revenues was observed in the case of companies like Balaji Telefilms, Cairn India , Chambal Fertilisers & Chemicals, Ispat Industries, Network18 Media & Investments, Reliance Natural Resources , Tata Chemical…

Looking at significant decline in revenues sector wise, with respect to the above 426 companies:

Agro Inputs : Chambal Fertilisers & Chemicals, Coromandel International, Kaveri Seed Company, Monsanto India, Excel Crop Care, Nagarjuna Fertilizers & Chemicals, Rallis India, Super Crop Safe and Zuari Industries, Rashtriya Chemicals & Fertlizers, the results of which are available, witnessed a 43.70% decline in aggregate revenue during July-September 2009 at Rs 63,709.29 million as against Rs 113,164.42 million for the same period last year.

Real Estate: D L F, Housing Development and Infrastructure, Mahindra Lifespace Developers, Parsvnath Developers, Orbit Corporation, and Peninsula Land , the results for which are available, witnessed a 38.39% decline in aggregate revenue during July-September 2009 at Rs. 11,928.05 million as against Rs 19,360.29 million for the same period last year.

Shipping: Chowgule Steamships, Garware Offshore Services,Great Eastern Shipping Company and Shipping Corporation Of India, the results for which are available, witnessed a 37.40% decline in aggregate revenue during July-September 2009 at Rs 13,341.81 million as against Rs 21,311.64 million for the same period last year.

via myiris.com