Company Results

Verizon posts better-than-expected profits

Verizon posts better-than-expected profits New York - Verizon Communications Inc, the second-largest US phone company, had better-than-expected profits of about 3.2 billion dollars in the first quarter as customers laid out more money for text messaging and other services. Sales rose 12 per cent to 26.6 billion dollars, bolstered by the purchase of Alltel Corp. But global business revenues dropped 3.4 per cent as companies fired workers and delayed new purchases, Bloomberg financial news service reported.

Bauknecht's Whirlpool barely spins past red zone

Bauknecht's Whirlpool barely spins past red zoneNew York - Whirlpool, the world's largest maker of household appliances, barely stayed in the black in the first quarter, according to the report issued Monday by the Benton Harbor, Michigan- based company. But despite the earnings drop of 28 per cent to 68 million dollars, the company defied analysts' expectations it would go into the red. Revenues fell 23 per cent to 3.6 billion dollars compared to the same period of 2008 for the US firm now owned by Germany's Bauknecht.

The rival Swedish firm Electrolux reported three-times the losses it reported in the same period last year.

3i Infotech Q2 net profit grows 85.29%

3i Infotech 3i Infotech, a global Information Technology company, has registered 85.29 growth in its net profit to Rs 90.46 crore for the quarter ended March 31. The company had a net profit of Rs 48.82 crore in the same quarter ended March 2008.

Further, the company's net sales also rose to Rs 606.76 crore in the quarter, up by 73.25% from Rs 349.86 crore in the previous year-ago quarter. Apart from the announcement of results, 3i Infotech Ltd has recommended an equity dividend of Rs 1.50 per share having face value of Rs 10/- each.

Balrampur Chini Q2 Net profit grows to Rs 66.19 crore

Balrampur Chini MillsBalrampur Chini Mills, one of the largest integrated sugar manufacturing company, on Saturday announced a marginal increase in net profit at Rs 66.19 crore for the second quarter ended March 31, 2009, compared to Rs 65.65 crore in the year-ago period.

The net sales for the quarter rose 15.93% to Rs 357.11 crore, compared to Rs 308.03 crore for prior year period.

Further, the company's total income surged by 14.84 per cent to Rs 357.34 crore, from Rs 311.15 crore in the corresponding period in the previous year.

Pantaloon Retail registers 7% growth in Q3 Net profit

Pantaloon Retail registers 7% growth in Q3 Net profitPantaloon Retail (India), the country’s biggest publicly traded supermarket operator, informed that its net profit has surged by 7.07 per cent to Rs 34.37 crore for the quarter ended March 31, 2009.

The company declared results for third quarter, because its financial year ends on June 30.

In a filing to the Bombay Stock Exchange, Pantaloon said that it had a net profit of Rs 32.10 crore in the same quarter ended March 2008.

ICICI Bank registers 35% drop in its Q4 Net profit

ICICI Bank registers 35% drop in its Q4 Net profitIndia's second-largest lender ICICI Bank today announced 35% drop in net profit at Rs 743.76 crore for the quarter ended March 31, 2009 when compared to Rs 1149.84 crore in the year-ago period.

In addition, the lender's total income also fell to Rs 9203.36 crore from Rs 10390.92 crore in the corresponding period in the previous year.

For the full-year ended March, ICICI Bank's net profit fell 9.40% percent to Rs 3758.13 crore, as compared to Rs 4157.73 crore for the year ended March 31, 2008.

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