Jet Airways Q1 net dips 31%

Private carrier Jet Airways on Monday reported a 31.35 per cent decline in net profit at Rs 30.88 crore for the quarter ended June 30 compared to Rs 44.98 crore for the corresponding quarter last year.

However, total income increased by 19.81 per cent to Rs 1,983.03 crore for the June quarter as against Rs 1,655.19 crore for the same quarter in the previous year, the company said in communique to the Bombay Stock Exchange.

The shares of the company fell 3.15 per cent and closed at Rs 700 on the BSE.

Tata Steel's Q1 net up 28% at Rs 1,222 cr

The world's sixth largest steel manufacturer Tata Steel on Monday posted 28.18 per cent increase in net profit at Rs 1,222.11 crore for the quarter ended June 30 compared to Rs 953.41 crore for the corresponding quarter last year.

Total income (net of excise) of the company increased 9.21 per cent to Rs 4,343.70 crore for the quarter ended June 30, from Rs 3,977.38 crore a year ago, Tata Steel informed the Bombay Stock Exchange (BSE).

Shares of the company were trading at Rs 645, down 1.01 per cent on the BSE.

ONGC’s Q1 net rises 11.9%, beats forecast

India's top oil producer, Oil and Natural Gas Corp, said on Wednesday quarterly net profit rose 11.9 per cent, beating forecast, as lower discounts to state-run refiners offset the impact of a stronger rupee. State-run ONGC said net profit rose to 46.1 billion rupees (USD 1.1 billion) in the fiscal first quarter to end-June, from 41.2 billion rupees reported in the same period a year ago. A Reuter’s poll had forecast a net profit of 38.7 billion rupees.

The company has been weighed down by discounts it is forced to give state-run refiners to keep local fuel prices low.

Since ONGC bills its customers in US dollars, a stronger rupee that has gained about 10 per cent so far this year also squeezed earnings.

Shares in ONGC, India's second-most valuable listed company at USD 48 billion, rose 2.7 per cent during the June quarter, lagging the benchmark BSE index's 12.1 per cent gain and its sector index, which rose 19 per cent.

ITC Q1 net profit up 20%, beats forecast

Country's top tobacco firm, ITC Ltd, reported on Friday a 20 percent rise in quarterly net profit on the back of higher cigarette prices and robust growth in its packaged foods and hotels businesses.

ITC, 31.7 per cent owned by British American Tobacco Plc, has entered personal care, apparel, retail and snack foods recently, but cigarettes make up two-thirds of revenues.

The Kolkata-based company said net profit rose to 7.83 billion rupees ($193 million) in the fiscal first quarter to end-June from 6.52 billion a year earlier, beating a Reuters forecast of 7.10 billion.

A value-added tax of 12.5 per cent imposed on cigarette sales from April has pushed up prices, and ITC has said it was concerned taxes and tight regulations can affect revenues.

ITC shares, valued at $15.6 billion, gained 3 per cent in the quarter, trailing a 12 per cent rise in the main index and a 5 per cent rise in the sector index.

HDFC's Q1 net profit at Rs 372.81 crore

Housing sector lender HDFC Ltd on Wednesday announced a net profit of Rs 372.81 crore in the first quarter ended June 30, 2007 as against Rs 296.82 crore in the year-ago period.

The total income rose to Rs 1,830.39 crore as against

Rs 1,248.53 crores in the corresponding quarter last year.

Bharti Airtel Q1 net jumps 100%

Telecom major Bharti Airtel on Thursday posted a 100 per cent jump in net profit at Rs 1512 crore for the quarter ended June 30, compared to Rs 755 crore for the same quarter last year.

The revenues of the company increased 53 per cent to Rs 5905 crore for the first quarter ended June 30, from Rs 3856 crore for the corresponding quarter a year ago, a company statement said.

The company has made the highest ever net addition of 57 lakh customers in a single quarter and the total customers as on June 30 stood at 4.5 crore, an increase of 82 per cent on a year-on-year basis.

For the quarter ended June 30, Bharti Airtel's market share of all India mobile subscribers increased to 23.5 per cent from 21.1 per cent during the same period last year.

Read more in Financial Express

Maruti profit rises 35%, shares jump

India's largest car maker, Maruti Udyog Ltd on Thursday reported a higher-than-expected 35 per cent rise in quarterly net profit, boosting its shares by nearly 6 per cent to a six-month high.

Maruti, which has nearly half the Indian market with models such as the Alto and the Swift hatchback, has been trying to shift consumers to more expensive vehicles including its new SX4 sedan, which deliver higher margins.

That, coupled with cost cutting, helped offset volatile raw material costs and higher interest rates that are slowing sales.

Maruti, 54.2 per cent owned by Japan's Suzuki Motor Corp, said net profit rose to Rs 4.99 billion ($124 million) in the fiscal first quarter to end-June from Rs 3.70 billion in the same period a year earlier.

Read more in Financial Express