Leading tyre maker MRF has reported a 22 per cent drop in its net profit at ₹300 crore for the quarter ended September 30, 2017, when compared with a profit of ₹385 crore in a year-ago period, on the back of lower topline. Its profit before exceptional items and tax stood at ₹441 crore against ₹566 crore. Raw material costs were higher at ₹2,198 crore against ₹1,915 crore. Other income fell significantly to ₹69 crore from ₹122 crore in Q2 of previous fiscal. Its finance costs were marginally higher at ₹60 crore (₹63 crore). Total revenues stood at ₹3,591 crore (₹3,615 crore).
Motherson Sumi net upNew Delhi: Automotive components manufacturer Motherson Sumi Systems (MSSL) on Friday reported consolidated net profit of ₹593 crore for the second quarter ended September, up 24 per cent compared with ₹480 crore in the same period last year. Owing to growth in global sales, the company’s consolidated revenue also grew at ₹ 13,338 crore during the quarter, up 40 per cent as compared with ₹10,213.79 crore in July-September last year.
“We witnessed strong inflow of new orders which highlights customers’ continued faith in our execution capabilities and product quality,” said Vivek Chaand Sehgal, Chairman.
J C Sharma, Vice Chairman and Managing Director, said:
“The sales volume and total sales value are up by 5.6 per cent and 8.3 per cent respectively as compared to preceding quarter. Additionally, the sales volume is marginally higher and total sales value is up by 22.5 per cent as compared to Q2 FY17.”
Brigade net leapsBengaluru: Brigade Enterprises has posted 37.99 per cent higher profit at ₹41.62 crore on unaudited consolidated basis against ₹30.16 crore. The company’s income from operations is also higher by 8.76 per cent to ₹499.47 crore against ₹459.24 crore in the same period last year. EPS stood at ₹3.01 (₹2.53). Segment revenue: real estate ₹361.18 crore (last year ₹341.29 crore), hospitality ₹54.10 crore (₹45.98 crore) and leasing ₹72.62 crore (₹65 crore).
Commenting on the company’s performance, M R Jaishankar, CMD, said: “The growth in revenues and profits reflects the strong array of projects that the group is marketing. This is despite the challenging market conditions and significant change in regulations. Our sales has seen marginal increase in both volume and value.”
Cochin Shipyard profitMumbai: State-owned Cochin Shipyard Ltd posted a net profit of ₹100.21 crore on revenue of ₹583.24 crore for the quarter ended September, a company statement said.
The country’s first state-owned listed shipbuilder and repairer had reported a net profit of ₹109.02 crore and revenue of ₹541.80 crore during the same period last year.
For the six months ended September, Cochin Shipyard posted a net profit of ₹191.36 crore on revenue of ₹1,139.49 crore against ₹190 crore and ₹954.98 crore a year earlier. Our Bureaus