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Top 10 Cos net up 25 per cent in Q1
Beating recession, the top ten private companies improved their profits by 25 per cent to about Rs 2,750 crore in the first quarter of this fiscal from about 2,100 crore last fiscal.
Beating recession, the top ten private companies improved their profits by 25 per cent to about Rs 2,750 crore in the first quarter of this fiscal from about 2,100 crore last fiscal.
According to latest company data, HLL's net profit from its operations was about Rs 347 crore during April-June 2001 as against Rs 287 crore in the corresponding period last fiscal.
After including a one-time exceptional income of Rs 119.98 crore on account of profit arising from the sale of Quest Flavours Business to ICI group, the net profit goes up to Rs 466.59 crore, the company clarified. Otherwise, HLL's net profit from operation was Rs 347 crore, which is significantly lower than that of RPL.
Tobacco major ITC retained its fourth position after posting a modest 21 per cent growth in net profit at Rs 301 crore last quarter. NYSE-listed Wipro came up the ladder to fifth position after a 93 per cent net profit growth at Rs 208 crore closely followed by Nasdaq-listed Infosys whose net was up 50 per cent to Rs 190 crore.
The other Nyse-listed company Satyam Computers also posted an impressive 144 per cent jump in net at Rs 121 crore to retail its position among the top 10 companies. Despite the US slowdown and its impact on the Indian IT sector, the three leading companies Wipro and Infosys improved their ranking in the big league outpacing recession-hit old economy majors including Hindalco.
AV Birla's Hindalco posted a marginal fall in net profit at Rs 161 crore during the first quarter of 2001 as against Rs 176 crore a year ago.
The aluminium major had posted a net profit of Rs 172 crore but after providing for deferred tax payment, its net was down at Rs 161 crore, Hindalco said in its website.
Even in case of Bajaj Auto, the net profit accounted to Rs 118.85 for tax adjustments although its net profit was at Rs 120.77 crore during the last quarter. Bajaj Auto also gained from a Rs 45 crore income received from Allianz, its foreign partner for general insurance venture.
HDFC made it to the top 10 list last quarter with Rs 114 crore net profit, which is 19 per cent more than Rs 96 crore during April-June 2000.
None of the Tata Group companies figured among the top 10 list in the first quarter. Tisco, which was in the list last fiscal, slipped out due to 80 per cent fall in net profit during the quarter.
Bureau Report
After including a one-time exceptional income of Rs 119.98 crore on account of profit arising from the sale of Quest Flavours Business to ICI group, the net profit goes up to Rs 466.59 crore, the company clarified. Otherwise, HLL's net profit from operation was Rs 347 crore, which is significantly lower than that of RPL.
Tobacco major ITC retained its fourth position after posting a modest 21 per cent growth in net profit at Rs 301 crore last quarter. NYSE-listed Wipro came up the ladder to fifth position after a 93 per cent net profit growth at Rs 208 crore closely followed by Nasdaq-listed Infosys whose net was up 50 per cent to Rs 190 crore.
The other Nyse-listed company Satyam Computers also posted an impressive 144 per cent jump in net at Rs 121 crore to retail its position among the top 10 companies. Despite the US slowdown and its impact on the Indian IT sector, the three leading companies Wipro and Infosys improved their ranking in the big league outpacing recession-hit old economy majors including Hindalco.
AV Birla's Hindalco posted a marginal fall in net profit at Rs 161 crore during the first quarter of 2001 as against Rs 176 crore a year ago.
The aluminium major had posted a net profit of Rs 172 crore but after providing for deferred tax payment, its net was down at Rs 161 crore, Hindalco said in its website.
Even in case of Bajaj Auto, the net profit accounted to Rs 118.85 for tax adjustments although its net profit was at Rs 120.77 crore during the last quarter. Bajaj Auto also gained from a Rs 45 crore income received from Allianz, its foreign partner for general insurance venture.
HDFC made it to the top 10 list last quarter with Rs 114 crore net profit, which is 19 per cent more than Rs 96 crore during April-June 2000.
None of the Tata Group companies figured among the top 10 list in the first quarter. Tisco, which was in the list last fiscal, slipped out due to 80 per cent fall in net profit during the quarter.
Bureau Report