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Monday, April 28, 2008

Results: IDFC, IOB, Welspun Guj, Godrej Cons

IDFC has announced its FY08 and Q4 results. The company's consolidated
net profit was up 47.51% at Rs 742 crore versus Rs 503 crore.

The company's Q4 consolidated net profit was up at Rs 123 crore versus
Rs 93 crore.
 
 
Indian Overseas Bank has posted a modest 5.5% increase in net profit
at Rs 306 crore for the quarter ended March 31, 2008, when compared
with Rs 290 crore reported in the corresponding quarter a year ago.

The bank's Q4FY08 total income increased by 27% to Rs 2,468 crore for
January-March period of 2007-08 as against Rs 1,936 crore during the
corresponding period of 2006-07.

The bank has posted a 19% rise in net profit of Rs 1,202 crore for the
financial year 2007-08 as compared to Rs 1,008 crore for 2006-07.

Total income has increased by 41 % to Rs 8,775.86 crore for the year
ended March 31, 2008 from Rs 6,219 crore for the year ended March 31,
2007.
 
 
Welspun-Gujarat Stahl Rohren disclosed a phenomenal rise in standalone
net profit for the quarter ended March 2008 but below the analysts`
expectation.

During the quarter, the profit of the company zoomed 2.46 times to Rs
1,022 million from Rs 415 million in the same quarter last year. The
analysts` polled by Bloomberg had estimated earnings of Rs 1,229
million.

The company posted earnings of Rs 5.95 a share during the quarter,
registering 95.08% growth over prior year period. The analysts` had
predicted earnings of Rs 6.9 a share.

Net sales for the quarter surged 68.59% over previous year period to
Rs 12,275 million, while the analysts` had estimated net sales at Rs
13,171 million. Total income for the quarter jumped 69.37% to Rs
12,383 million compared with the prior year period.


Quarterly Results - Standalone (Rs in mn)
As at         Mar - 08       Mar - 07  %Change
Net Sales  12275.00      7281.00    68.59
Net Profit    1022.00        415.00   146.27
Basic EPS       5.95           3.05     95.08


Dividend
The board of directors has recommended dividend of 30% or Rs 1.50 a
share of face value of Rs 5 each
 
 
Godrej Consumer Products announced a decline in standalone net profit
for the quarter ended March 2008. During the quarter, the profit of
the company declined 4.47% to Rs 371.50 million from Rs 388.90 million
in the same quarter last year. The company posted earnings of Rs 1.64
a share during the quarter, registering 4.65% decline over prior year
period.

Net sales for the quarter rose 13.74% to Rs 2,124.30 million, while
total income for the quarter rose 14.57% to Rs 2,159.10 million, when
compared with the prior year period.


Quarterly Results - standalone (Rs in mn)
As at         Mar - 08  Mar - 07   %Change
Net Sales   2124.30  1867.60    13.74
Net Profit      371.50   388.90     (4.47)
Basic EPS       1.64      1.72      (4.65)


During the quarter the company announced a rise in operating margin by
392.69 basis points to 21.37% on lower production cost. On the other
hand, there is a decline of 96.36% in interest charge to Rs 21.60
million and rise of 1.33% in depreciation charge to Rs 38.00 million
over previous year period.

Annual Result:
The company posted a net profit of Rs 1,481 million for the year ended
Mar. 31, 2008 as compared with Rs 1,321.60 million for the year ended
Mar. 31, 2007, an increase of 12.06%.

For the financial year ended March 2008, the company`s net sales
jumped 17.01% to Rs 8,875.90 million compared with Rs 7,585.20 million
for the year ended March 2007.

Total income for the year rose 17.34% to Rs 8,962.90 million compared
with Rs 7,638.20 million last year.

The EPS rose by 12.13% to Rs 6.56 for the year ended Mar. 31, 2008
from Rs 5.85 last year.


Annual Results - standalone (Rs in mn)
As at        Mar - 08   Mar - 07  %Change
Net Sales  8875.90   7585.20   17.01
Net Profit   1481        1321.60  12.06
Basic EPS  6.56            5.85   12.13

 
 
Godrej Consumer Products declared a fourth interim dividend of 75%
that is Re 0.75 a share of face value Re 1 each for the financial year
2007-08.

Further, the company`s board has also recommended a final dividend of
Re 0.75 a share for the financial year 2007-08. The payment of the
final dividend is subject to the approval of the shareholders in the
annual general meeting (AGM).

Godrej Consumer posted a decline in standalone net profit for the
quarter ended March 2008. During the quarter, the profit of the
company declined 4.47% to Rs 371.50 million from Rs 388.90 million in
the same quarter last year.

Net sales for the quarter rose 13.74% to Rs 2,124.30 million, when
compared with the prior year period.

 
 
 


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