Bartronics India Q2-08 Net Sales up by 136.8% at Rs. 16068.66 lakh

October 31st, 2008 by | No Comments | Filed in Politics

Hyderabad, 30th October, 2008: Bartronics India Limited, the country’s leading player in the Automatic Identification and Data Capture (AIDC) Technologies Industry, today reported net sales of Rs. 16068.66 lakh for the quarter ended September 30, 2008 compared to Rs. 6783.50 lakh in corresponding period of last fiscal year, registered an increase of 136.8%.

Net Profit for the second quarter stood at Rs. 2041.12 lakh, registered a growth of 62.99 % as compared to Rs. 1252.27 lakh posted in the same period of last fiscal year. Diluted Earnings per share (EPS) increased by 45.30% to Rs. 7.28 as compared to Rs. 5.01 in corresponding period of last year.

Net sales for the six months ended September 30, 2008 grew by 200.43 % to Rs. 28021.23 lakh compared to Rs. 9326.74 lakh in the corresponding period of last fiscal year, while net profit for the six months ended September 30, 2008 rose by 152.18 % to Rs. 4360.08 lakh, as against Rs. 1728.92 lakh posted in the same period of last fiscal year.

Diluted Earnings per Share (EPS) for half year of 2008 worked out to Rs. 15.83 as compared to Rs. 9.70 for the same period of last fiscal year registering an increase of 63.19 %.

Commenting on the results, Mr. Sudhir Rao, Managing Director, Bartronics India Limited said, “The strong growth has been the result of continued focus on the smart cards business by the company. As we enjoy the first mover advantage in this niche sector, we will continue to grow across all segments in the coming quarter as well. The management has decided to retain the guidance announced earlier for the future performance.”

Dabur India Q2 Net Profit Soars 18% To Rs 107 Cr

October 31st, 2008 by | No Comments | Filed in Politics

·        Standalone Q2 EBITDA Margin Expands By 52 bps

·        Consolidated Sales Up 18% To Rs 699 Crores

New Delhi, October 30th, 2008: The Board of Directors of Dabur India Ltd (DIL) met here today to consider the audited financial results of the company for the quarter and half-year ending September 30, 2008.

Aggressive cost management initiatives coupled with a judicious pricing strategy and the continued strong performance in key categories helped Dabur India Ltd mitigate the impact of steep cost inflation and report a strong 18.1% growth in standalone net profit for the second quarter of the 2008-09 fiscal. Net profit for the quarter stood at Rs 106.96 Crores, up from Rs 90.55 Crores a year earlier. The company also announced that its EBITDA margin for the quarter expanded by 52 bps. Standalone Net Profit for the first half of the financial year reported a 21% surge to Rs 177.11 Crores.

“We continue to sustain our strong growth momentum in key categories like Hair Oils, Shampoos and Baby & Skin Care as consumer spending remains robust in the FMCG market despite high Inflation. Hair Oils reported an impressive over 20% growth in the quarter led by Anmol Coconut Oil and Dabur Amla Hair Oil. Shampoos also continued to outperform the category with a growth of over 36%, while Baby & Skin Care business reported a near 18% growth following the expansion of Dabur Gulabari skin care range with the introduction of Dabur Gulabari Moisturising Cream and Lotion,” Dabur India Ltd CEO Mr. Sunil Duggal said.

“Our renewed focus on Ayurvedic OTC products reaped rich dividend with the Consumer Health Division riding strong on its turnaround path and reporting a strong over 21% growth in the second quarter of 2008-09 fiscal,” Mr. Duggal added.

The quarter also saw Dabur India Ltd roll out a host of new products and initiatives, which have met with encouraging response in the market. Dabur’s new hard surface cleaner brand ‘Dazzl’, launched nationally in the previous quarter, has already garnered a market share of 6.1% (July-September 08) in the floor and kitchen cleaner category.

Dabur India Consolidated
Dabur India Ltd’s Consolidated Income for the second quarter of 2008-09 fiscal marked an 18.4% growth to Rs 699.30 Crores, up from Rs 590.49 Crores a year earlier. Net Profit for the quarter rose 12.2% at Rs 107.41 Crores as against Rs 95.74 Crores a year ago.

Dabur’s International Business continued to grow at a rapid pace with the division recording an impressive growth of 40.5%, led by robust performance in GCC, Egypt, Nigeria, Yemen and North African markets.

“We have built strong capabilities to tap emerging opportunities in the overseas markets. Sales in the GCC region reported a 49% growth while sales in African markets surged 65%. Dabur Egypt grew by a robust 88% and Bangladesh sales surged by 85%,” said Dabur India Ltd Group Director Mr. P D Narang.

Board Reconstitution

Dabur India Ltd also announced the reconstitution of its Board of Directors with the induction of two new independent directors. Aviva India Ltd Managing Director Bert Paterson and Mr. Analjit Singh, Co-Founder and Chairman of Max India Ltd, have been inducted as independent directors on the board. Besides, Maharaja Gaj Singh has resigned from the Dabur India board.

“Corporate governance and transparency in action are of high priority for Dabur and the Burman family, and the new board-level inductions are in line with this philosophy. With this, the number of members on the Dabur India board has been expanded to 11 with seven independent directors,” Dabur India Ltd Chairman Dr. Anand Burman said.

Muhurat Trading Session at Bombay Stock Exchange in the Samvat Year 2065

October 29th, 2008 by | No Comments | Filed in Politics

 

The Bombay Stock Exchange Limited (BSE) welcomes the Samvat Year 2065 with the Lakshmi Puja and the Muhurat Trading Session on Tuesday, October 28, 2008 from 6.15 p.m. to 7.15 p.m.

The significance of today’s trading session is the felicitation of the 10 top volume drivers in the Equity segment for the year 2007 -2008. The names appear alphabetically:

Angel Broking Ltd.
BLB Ltd.
Bonanza Portfolio Ltd.
Edelweiss Securities Ltd.
Kotak Securities Ltd
Marwadi Shares and Finance Ltd.
Morgan Stanley India Company Pvt. Ltd.
Motilal Oswal Securities Ltd.
OPG Securities Ltd.
Sharekhan Ltd.
MUHURAT TRADING :
Muhurat (auspicious) ‘Muhurat trading’ marks the beginning of the new trading year for the Gujarati community, who form the bulk of share brokers in India.

For the trading communities of the north the new financial year begins with Diwali. That is the reason puja is performed for account books, safes and tijoris on Dhanteras as well as on Diwali day. A coin is placed on the account books before the puja which is supposed to signify wealth , and the coin is preserved and again used in the puja in the next Diwali.

The stock brokers perform “Chopra pooja” at the exchange and a customary ‘muhurat trading’ trading takes place at the stock exchange, when the SENSEX invariably notches up a few points even in a bad market. The story goes that on the night of Lakshmi Puja , the Goddess comes to reside at the place of the puja, that is the reason the traders and shopkeepers keep awake with lights burning all night to welcome Lakshmi any time she chooses to come.

Four Soft Ltd Q2 Jul-Sep financial results

October 28th, 2008 by | No Comments | Filed in Politics

Four Soft unaffected by financial crises;

accomplishes 217% profit growth in the Second Quarter

Financials at a glance for the quarter ended September 2008

Revenues
 Rs. 383.20 million  (-8% YoY)
 
EBIDTA
 Rs. 69.34 million  (+81% YoY)
 
PBT
 Rs. 50.29 million  (+217% YoY)
 
PAT
 Rs. 40.38 million  (+254% YoY)
 

 

Highlights for the quarter

Three new customers signed across geographies
Strategic wins in this quarter include one of the largest 3PLs in India
Successful implementation of the flagship products at several prestigious customer locations
Rajshekhar Roy takes over as CEO
Hyderabad, 27 October, 2008: Four Soft (4S) (NSE: “FOURSOFT”, BSE: 532521), a global leader offering software solutions for transportation and logistics industry, today announced strong financial results for its second fiscal quarter ended September 30, 2008.  The PAT grew to
Rs. 40.38 million for the quarter ended September 30, 2008, as compared to Rs. 11.41 million in the corresponding quarter last year. The revenues were of Rs. 383.20 million for the quarter ended September 30, 2008 as compared to Rs. 418.48 million in the corresponding quarter last year.

The quarter has seen a significant jump in profits due to increased operational efficiency and favorable foreign exchange rates. During the quarter, the company also successfully implemented its flagship products at numerous customer sites across the globe. The Company has established itself in the domestic market by adding 7 customers in the last one year and also hopes to further strengthen its presence by penetrating deeper into the Indian transportation and logistics industries.

The company has recorded Rs. 1,111.43 million in sales and a PBT of Rs. 418.36 million for the first half year of the year.

Mr. Biju S Nair, CFO, Four Soft Ltd. Said, “Four Soft has been witnessing a strong growth in profits for last three quarters. We are in a stronger financial position and are taking all possible measures to de-risk the company from any possible economic slowdown.”

Mr. Rajshekhar Roy, CEO added, “I am happy to state that we are seeing significant progress in terms of adding new customers in our existing markets specifically India, Japan and Europe. We are also focusing on new markets such as China, where we hope to build a sizable presence by the end of this financial year. The company has also started the implementation of Lean Management – this will play a major role in improving internal efficiencies thereby increasing profitability.”

Infosys Technologies Ltd–Financial Results September 30, 2008 Indian GAAP

October 10th, 2008 by | 1 Comment | Filed in Politics

Infosys Technologies Announces Results for the Quarter ended September 30, 2008
Q2 revenues in Indian Rupee grew by 32% year on year; sequential growth 12%
Q2 revenues in US Dollar grew by 5.3% sequentially; 7.1% in constant currency
Bangalore, India – October 10, 2008
Highlights :
Consolidated results for the quarter ended September 30, 2008
Income was Rs. 5,418 crore for the quarter ended September 30, 2008; YoY growth was 32%
Net profit after tax was Rs. 1,432 crore for the quarter ended September 30, 2008; YoY growth was 30.2%
Earnings per share increased to Rs. 25.02 from Rs. 19.26 in the corresponding quarter in the previous year; YoY growth was 30%
Interim dividend of Rs. 10 per share ( 200% on par value of Rs. 5 per share) compared to Rs. 6 ( 120% on par value of Rs. 5 per share) for the corresponding period in the previous year

Others
40 new clients were added during the quarter by Infosys and its subsidiaries
Gross addition of 10,117 employees (net 5,927) for the quarter by Infosys and its subsidiaries
1,00,306 employees as on September 30, 2008 for Infosys and its subsidiaries

“We have revised our US dollar revenue guidance to reflect the current economic situation and the drastic depreciation of major global currencies against the US dollar,” said S. Gopalakrishnan, CEO and Managing Director. “The challenging environment provides interesting opportunities for transformational service providers like us.”
Business outlook
The company’s outlook (consolidated) for the quarter ending December 31, 2008 and for the fiscal year ending March 31, 2009, under Indian GAAP and International Financial Reporting Standards (IFRS), is as follows:
Outlook under Indian GAAP – consolidated
Quarter ending December 31, 2008*
Income is expected to be in the range of Rs. 5,519 crore and Rs. 5,730 crore; YoY growth of 29.2% – 34.2%
Earnings per share is expected to be Rs. 26.63; YoY growth of 23.6%**

Fiscal year ending March 31, 2009*
Income is expected to be in the range of Rs. 21,309 crore and Rs. 21,731 crore; YoY growth of 27.7% – 30.2%
Earnings per share*** is expected to be Rs. 101.06; YoY growth of 24%

* Conversion 1 US$ = Rs. 46.97
** Including tax reversal of Rs. 50 crore for the quarter ended December 31, 2007. Excluding the tax reversal the YOY growth is expected to be 28.9%.
*** Including tax reversal of Rs. 31 crore in fiscal 2009 and Rs.121 crore in fiscal 2008 respectively. Excluding the tax reversal the earnings per share is expected to be Rs.100.51 for the year ending March 31, 2009; YoY growth of 26.6%
Page 1 of 8 Infosys Technologies Limited – Financial Release September 30, 2008 Indian GAAP Press R elease
Outlook under IFRS#
Quarter ending December 31, 2008
Consolidated revenues are expected to be in the range of $ 1,175 million and $ 1,220 million; YoY growth of 8.4% – 12.6%; in constant currency 11.9% – 16.2%
Consolidated earnings per American Depositary Share are expected to be $ 0.57; YoY growth of 5.6%@

Fiscal year ending March 31, 2009
Consolidated revenues are expected to be in the range of $ 4.72 billion and $ 4.81 billion; YoY growth of 13.1% – 15.2%; 16% – 18% in constant currency
Consolidated earnings per American Depositary Share@@ are expected to be $ 2.24; YoY growth of 10.3%

# Exchange rates considered for major global currencies: AUD / USD 0.81; GBP / USD 1.86; Euro / USD 1.36
@ Including tax reversal of $ 13 million for the quarter ended December 31, 2007. Excluding the tax reversal the YOY growth is expected to be 9.6%.
@@ Including tax reversal of $ 7 million in fiscal 2009 and $ 31 million in fiscal 2008 respectively. Excluding the tax reversal, the earnings per share is expected to be $ 2.23 for the year ending March 31, 2009; YoY growth of 12.6%
Awards and recognition
Infosys won the 2008 RBS Supplier Excellence Award for Global Contribution which acclaims operational and delivery excellence as well as effective account management of suppliers operating across multiple geographies. This award recognized Infosys’ valued contribution to the ABN AMRO integration. Sears Holdings Corporation chose us as a Partner in Progress for the second consecutive year. Forbes magazine listed us among its Asian Fab 50.
Expansion of services and significant projects
Infosys launched ShoppingTrip360, an innovative solution for retailers and consumer packaged goods companies. Infosys’ patent-pending technology platform offers real-time visibility into shopper and shelf activity through a network of wireless sensor-based applications.
Companies across the world continued to entrust Infosys with the responsibility of transforming their businesses, technology, and operations.
“We added 40 clients during the quarter,” said S.D. Shibulal, Chief Operating Officer. “Despite adverse market conditions, our pricing remained stable during the last quarter.”
We are developing Business Intelligence strategy and technology architecture for an international auto major. We are enabling a leading online digital photo service provider to improve its customer engagement through behavior and conversion analyses, and long-term customer value analytics.
Clients partnered with Infosys to accomplish technology-led innovation. We are providing R&D services for a telecom equipment manufacturer. Infosys is involved in product development for an agri-engineering company, and is also re-engineering the client’s existing products. Infosys has been engaged by an auto major to develop a Capacity Management System to facilitate collaboration with its suppliers. A manufacturer of diesel engines sought our technology consulting services for its employee on-boarding project. A steel major consulted us to redefine part of its IT organization.
Clients sought Infosys’ expertise to achieve operational excellence. A pharmaceutical major engaged Infosys to maintain applications in its manufacturing and enabling functions globally. For a provider of power and automation technologies, we are globally implementing Microsoft CRM. An eyewear major chose us as its development partner for SAP IS retail implementation. We helped a global automotive supplier in an end-to-end implementation and rollout of Oracle 11i. A chemicals company selected Infosys as its preferred supplier to provide architecture services, application optimization and performance improvement services around its Web Content Management applications. An auto major sought our services in process engineering, as well as deployment and maintenance of applications. Infosys is helping a financial services company improve its Balance Transfer platform. We have been engaged by a leading telecom service provider to assist in reinventing its IT organization.
Page 2 of 8 Infosys Technologies Limited – Financial Release September 30, 2008 Indian GAAP Press R elease
Infosys continued to grow in the emerging economies. We are providing best practice-based processes and a pricing model to a mining major that is looking to streamline its IT footprint. A petroleum company in the Middle East has engaged Infosys to streamline its HR business process and help its IT department in providing quality service to its users.
“The transformation spends in the communications sector continue to drive demand for our services,” said Subhash Dhar, Member – Executive Council, Senior Vice President and Global Head – Communication, Media and Entertainment. “We also see media and entertainment segments getting excited about our Global Delivery Model for their IT and operations outsourcing needs.”
Finacle®
Finacle® Universal Banking Solution has continued its strong momentum, adding four customers. Two of them are from Europe, one from the Americas, and one from the Asia Pacific region. In addition, three banks across the globe went live on Finacle® this quarter.
Infosys BPO
Infosys BPO won four clients this quarter. It is helping a subsidiary of a leading cable television company to create a shared services center across markets. A global telecommunications provider engaged Infosys BPO for a Legal Process Outsourcing project.
Process innovation
During the quarter, Infosys applied for an aggregate of 22 patents in the US and India. With this, Infosys has an aggregate of 171 patent applications (pending) in both countries and has been granted two patents by the United States Patent and Trademark Office.
Liquidity and capital expenditure
Cash and cash equivalents, including investments in liquid mutual funds, as on September 30, 2008 was Rs. 8,858 crore (Rs. 7,314 crore as on September 30, 2007). During the quarter, Infosys incurred capital expenditure of Rs. 391 crore (Rs. 402 crore for the quarter ended September 30, 2007). Operating cash flows during the quarter ended September 30, 2008 were Rs. 1,326 crore (Rs. 1,152 crore for the quarter ended September 30, 2007).
“We benefited from the depreciation of the rupee against the US dollar during the quarter which was partially offset by the sharp appreciation of the US dollar against all other major currencies,” said V. Balakrishnan, Chief Financial Officer. “Our liquidity position continues to be strong with cash and cash equivalents reaching US$ 1.9 billion.”
Human resources
During the quarter, Infosys and its subsidiaries added 10,117 employees (gross). The net addition during the quarter was 5,927.
“We reached a milestone of crossing 1,00,000 employees,” said T. V. Mohandas Pai, Member of the Board and Head – HRD and Education & Research. “We continue to be an employer of choice. Our significant investment in training has enabled us to continuously enrich our human capital.”
About Infosys Technologies Ltd.
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 1,00,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com.

ITC forays into use of Wind Energy in its Packaging and Printing Business

October 6th, 2008 by | No Comments | Filed in Politics

ITC will now utilize wind energy in its Packaging and Printing business as part of its commitment to progressively use renewable energy to further consolidate its carbon positive status. In line with ITC’s abiding vision to contribute meaningfully to sustainable development, the Company has recently commissioned a 14 MW Wind Energy Project in Tamil Nadu by installing 4 Windmills in Theni District, near Madurai and 5 Windmills in the Radhapuram Taluk, Tirunelveli District, at a capital cost of about Rs. 90 Crores. The project will not only result in cost savings but will also enhance ITC’s positive environmental footprint.

The generation from these windmills would be used for captive consumption of its Packaging and Printing plant at Tiruvottiyur, Chennai. The project is proposed to be enlisted and registered as a Clean Development Mechanism (CDM) Project with the CDM Executive Board set up under the “Kyoto Protocol”. Wimco, Chennai, an ITC subsidiary, is already using 4 turbines of 250KW each feeding into the TNEB grid at Mupppandal,Tirunelveli. ITC’s hotel in Hyderabad – The ITC Kakatiya is already using wind energy as part of its energy portfolio for the hotel.

Going forward, ITC would like to progressively invest in developing more Clean Energy Projects to enhance the company’s contribution to the ‘Triple Bottom Line objectives of simultaneously creating economic, environmental and social capital for the Nation.