Mumbai – Rolta India Limited, one of India’s leading IT companies, specializing in Geospatial Information Systems (GIS), Defense and Homeland Security, Engineering Design Services (EDS), and Enterprise Information and Communications Technology (EICT), today announced unaudited financial results for the quarter ended March 31, 2009.

FINANCIAL HIGHLIGHTS

·         Consolidated Revenue for Q3 FY-09 at Rs. 332.03 crores (Rs. 3,320.3 Mn) against Rs. 288.37 crores (Rs. 2,883.7 Mn) in FY-08, registering a Y-o-Y growth of 15.1%.

·         Consolidated EBITDA for Q3 FY-09 at Rs. 106.48 crores (Rs. 1,064.8 Mn) against Rs. 100.77 crores (Rs.1,007.7 Mn) in FY-08, registering a Y-o-Y growth of 5.7 %.

·         Consolidated Net Profit for Q3 FY-09 at Rs. 133.14 crores (Rs. 1,331.4 Mn) against Rs. 65.72 crores (Rs.657.2 Mn) in FY-08, registering a Y-o-Y growth of 102.6 %.

·         Consolidated Revenue for the nine months ended March 31, 2009 at Rs. 1,040.11 crores (Rs. 10,401.1 Mn) against Rs. 751.10 crores (Rs. 7,511.0 Mn) in FY-08, registering a growth of 38.5 %.

·         Consolidated EBITDA for the nine months ended March 31, 2009 at Rs. 351.05 crores (Rs. 3,510.5 Mn) against Rs. 277.54 crores (Rs. 2,775.4 Mn) in FY-08, registering a growth of 26.5 %.

·         Consolidated Net Profit for the nine months ended March 31, 2009 at Rs. 217.60 crores (Rs. 2,176.0 Mn) against Rs. 179.76 crores (Rs. 1,797.6 Mn) in FY-08, registering a growth of 21.0 %.

·         The company has opted for accounting the exchange differences arising on reporting of long term foreign currency monetary items in line with companies (Accounting Standards) Amendment Rules 2009 on Accounting Standard 11 (AS-11) as notified by Government of India on March 31, 2009. Accordingly the effect of exchange differences on FCCB,s/ECB’s  of the company is accounted  by addition or deduction to the cost of the assets so far it relates to depreciable capital assets and in other cases by transfer to “Foreign Currency Monetary Items Translation Difference Account”. Exchange difference recognized in the Profit & Loss Account up to last financial year ending June 30, 2008 relating to long term liabilities in foreign currency has been adjusted against opening revenue reserve as provided in the rules. As a result of this change in accounting for exchange difference, Profit before exceptional item for the quarter and nine months ending March 31, 2009 is lower by Rs. 11.87 crores with corresponding increase in Other expenses and Depreciation. The company has reversed foreign exchange revaluation loss amounting to Rs. 84.01 crores on translation of FCCB liability of US$ 150 million which was charged to Profit & Loss during July ’08 to Dec ’08 as an exceptional item and as a result the net profit for the quarter and nine months ending March 31, 2009 is higher by Rs. 72.14 crores.

Commenting on the results, Mr. K. K. Singh, Chairman and Managing Director, said: “We are confident that even in this difficult economic scenario, we will continue to build and strengthen our businesses, by developing innovative solutions, which provide deep insights and make a strong positive impact in our customer environments”.

OPERATIONAL HIGHLIGHTS
Geospatial Information Systems (GIS)

The Company’s unique solution for instantaneously enabling fusion of various disparate geospatial & non-spatial databases and software applications for generating real-time reports and immediate decision-making i.e. Rolta Geospatial FusionTM, has been very well received various markets, like US, Canada, Africa, Middle-East & India.

The Company continues to maintain its leadership in the Indian Defense Geospatial market and its JV with Thales – Rolta Thales Ltd. has launched innovative combat solutions for Mechanized Forces, Op Logistics, Order of Battle (ORBAT) generation/management and Ops room visualization, which can be quickly deployed in various formations. The Company has further strengthened its Homeland Security offerings, by launching state-of-the-art Maritime Safety & Security Solutions.

Engineering and Design Services (EDS)

The Company has launched Rolta OneViewTM – a state-of-the-art and unique solution for addressing the critical operational and reliability needs of Owner-Operators by integrating business intelligence tools with enterprise-level engineering databases and applications. This solution provides operational excellence and high reliability metrics through accurate and timely reporting on more than 100,000 pieces of equipment and hundreds of operations throughout a large plant in the Oil & Gas sector. Rolta OneViewTM provides significant improvements in refinery operations, resulting in downtime reduction, inventory rationalization, optimization of crude selection and improved refinery planning. The Company continues to expand this exceptional solution, which provides a very high-value proposition, especially in these challenging times.

The Company’s JV with The Shaw Group – Shaw Rolta Limited is progressing well and the Company is well positioned to take advantage of opportunities opening up in the Indian nuclear power sector, by leveraging the strengths of its JV partner, the Shaw Group Inc., USA, a world leader in this field.

Enterprise Information & Communications Technology (E-ICT)

The Rolta SOA Center of Excellence, a software division of the Company and leading provider of agile service-oriented architecture (SOA) solutions, launched Rolta SOA TodayTM. This solution allows CTO’s to quickly bring corporate strategy in line with business user needs while modernizing/upgrading their IT systems and uniquely makes information stored in disparate databases and heterogeneous platforms securely available and re-usable across the enterprise. Rolta SOA TodayTM provides a practical and cost-effective means to the users to exploit the wealth of data locked up in their IT infrastructure and brings tremendous value to stakeholders, by improving effective decision-making, across the enterprise

The Rolta SOA TodayTM solution incorporates the Company’s exceptional IPR (patent filed in US) and comprehensive services for assessing and defining an organization’s current environment with respect to enterprise application (EA), business process management (BPM) and governance, and developing and implementing the right SOA solution.

Corporate

The Company has expanded its world-class facilities by recently inaugurating a state-of-the-art development and delivery center in SEEPZ, an SEZ in Mumbai.  This center, with a 1500-seat capacity, is in close proximity to the Company’s existing facilities.

The Company has renewed its 23-year long partnership with Intergraph and will exclusively provide, customize & build on Intergraph’s enterprise engineering and product lifecycle management (PLM) software, to address the unique issues faced by Indian process, power, marine and offshore industries. In addition, the Company will also provide solutions along with Intergraph’s geospatially enabled software. The combined resources of the Company and Intergraph are a perfect match to provide superior customer satisfaction in the global engineering and geospatial marketplaces.

Mumbai, April 17th, 2009:  Consistent with its higher volume of operations, Power Finance Corporation’s (PFC) Net Profit rose by an impressive 12.3% to touch Rs 1355 crore for the FY 2008-09 as against Rs.1207 crore posted during FY 2007-08.
While the loan sanctions of the Corporation touched Rs.57,030      crores against MoU Excellent Target of Rs. 50,600 crores and disbursements rose to Rs.21,054  crore against MoU Excellent Target of Rs.19,300 crores. Total Income of the Corporation rose to Rs. 6583 crores as against Rs.5029 crore recorded during FY 2007-08. The cumulative sanctions and disbursements reached a figure of over Rs. 2,33,978  crore and over Rs. 1,13,119 crore, respectively.
Some of the major loans sanctioned by PFC during the FY 2008-09 include; Chabra TPS, Rajasthan (RRVUNL), Rs. 1760 Crores; Obra “C”, UP (UPRVUNL) Rs. 3837 Crores; Koradi Extn TPS, Maharashtra (MSPGCL) Rs. 6512 Crores; Raghunathpur TPS, (DVC) Rs. 3355 Crores; Tiroda TPS, Maharashtra (Adani Power) Rs. 1000 Crores; Angul Captive TPP, Orissa (Jindal Steel & Power) Rs. 1300 Crores.

Net Income of $1.6 Billion, Loss Per Share of $0.18

Positive EPS Excluding the $0.24 Impact of Resetting the Conversion Price of Certain Preferred Shares

Net Income Primarily Driven by Improved Performance in Institutional Clients Group and Continued Expense Reductions

New York, NY – Citigroup Inc. today reported net income for the first quarter of 2009 of $1.6 billion and a loss per share of $0.18, based on 5,385 million shares outstanding.  Revenues of $24.8 billion were driven by strong results in the Institutional Clients Group, partially offset by net write-downs.  Results also include $7.3 billion in net credit losses and a $2.7 billion net loan loss reserve build.

The $0.18 loss per share reflected the reset in January 2009 of the conversion price of the $12.5 billion convertible preferred stock issued in a private offering in January 2008.  This did not have an impact on net income but resulted in a reduction to income available to common shareholders of $1.3 billion or $0.24 per share.  Without this reduction, earnings per share were positive.  The loss per share also reflected preferred stock dividends, which did not impact net income but reduced income available to common shareholders by $1.3 billion.

Key Items

* Total revenues of $24.8 billion were up 99% compared to the first quarter of 2008, with sequential improvement across all regions.
* Net interest margin of 3.30% increased 50 and 8 basis points versus the first and fourth quarter 2008, respectively.
* Operating expenses were down $3.7 billion, or 23%, since the first quarter 2008.
* Headcount reduced by approximately 13,000 since the fourth quarter 2008 to 309,000 and approximately 65,000 since peak levels.
* Tier 1 capital ratio was approximately 11.8% versus 7.7% in the first quarter 2008.
* Deposit base remained relatively stable at $763 billion compared to the fourth quarter 2008, despite the challenging environment.  Deposits declined 8% since the first quarter 2008, due to the sale of the German retail banking operations and the impact of foreign exchange.  U.S. deposits increased $8 billion sequentially and $28 billion year-over-year.
* Closed sale of remaining Redecard position for an after-tax gain of $704 million.

Management Comment

“Our results this quarter reflect the strength of Citi’s franchise and we are pleased with our performance.  With revenues of nearly $25 billion and net income of $1.6 billion, we had our best overall quarter since the second quarter of 2007,” said Vikram Pandit, Chief Executive Officer of Citi.

Source: Company Release.

§         Sales up 21% and Profits up 16%

Highlights for the Year

§         High double-digit growth in Sales and Profits for second consecutive year in 2008

§         Recommended a Final Dividend @ 50%, a total of 150 % for the year

§         Focus on existing and new products through innovation

§         Cost curtailment initiatives to control cost of inputs

§         Aggressive Retention and Development programs for key talent

Gurgaon, NCR,  Jan 27 2009: GlaxoSmithKline Consumer Healthcare Limited (GSKCH) today declared its financial results for the year ended December 31, 2008. Net Sales at Rs. 15,42,78  lakhs recorded an impressive growth of 21% over 2007 with PAT at Rs. 1,88,33 lakhs growing by 16% for the same period and PBT growing by 16% over last year to Rs. 2,84,08 lakhs. For the Fourth quarter, net sales were Rs. 3,33,37 lakhs, while PBT and PAT were Rs. 50,72 lakhs and Rs. 32,58 lakhs respectively.

In the Golden Jubilee year of the Company, the Board of Directors recommended a final dividend @ Rs. 5 per equity share of Rs.10 each to share success with its shareholders. This is in addition to the interim dividend of 100% paid during November 2008.

“Despite market sentiments, GSKCH continued its strong performance in 2008 by achieving high double digit sales growth for yet another year. This has been achieved through focus on existing brands and cost control measures” said Zubair Ahmed, Managing Director, GlaxoSmithKline Consumer Healthcare Ltd.

CONSOLIDATED EBIDTA OF Rs. 299 MILLION, UP 35.8%
EBIDTA MARGIN OF 20.9%
CONSOLIDATED NET PROFIT OF Rs. 151 MILLION, UP 18.4%
Highlights
???? Advertisement revenue was Rs 1.12 billion for the quarter ended December 31, 2008, an
increase of 38.8% as compared to the corresponding period last fiscal.
???? Subscription revenue was Rs 236 million for the quarter ended December 31, 2008, an increase
of 46.4% as compared to the corresponding period last fiscal.
???? EBIDTA was Rs 299 million for the quarter ended December 31, 2008, as against Rs. 220
million during the corresponding period last fiscal. EBIDTA margin was 20.9%
???? Net Profit after Tax was Rs. 151 million for the third quarter ended December 31, 2008, an
increase of 18.4%
???? All channels’ viewership share of ZNL channels in the total C&S Universe grew to 5.47% in Q3
FY09 as compared to 4.18 % in the corresponding period last fiscal.
???? The flagship channel ‘Zee News’ continued to gain market and revenue share, while sticking to
sensible news. Both ‘Zee Marathi’ and ‘Zee Bangla’ maintained leadership in their respective
genres.
???? ‘Zee Business’ recorded sustained improvement in viewership share while 24 Ghanta
maintained its leadership in the genre.
???? Under “new businesses”, ‘Zee Kannada’ and ‘Zee Telugu’ recorded a YoY GRP growth of 90.8%
and 47.4% respectively while ‘Zee 24 Taas’ saw an increase of 148.3%.
???? ‘Zee Tamil’ is now well distributed and progressing as per our plan. In West Bengal, operating
involvement of ZNL team with Akaash Bangla got initiated w.e.f January 1, ’09.
EARNINGS RELEASE FOR THE QUARTER ENDED DEC. 31, 2008
Page 2 of 5
Mumbai, India; January 22, 2009 – Zee News Limited (ZNL) today reported third quarter fiscal ‘09
consolidated revenue of Rs. 1.43 billion, representing 45.4 % growth over the corresponding quarter
last fiscal. The consolidated EBIDTA stood at Rs. 299 million, up by 35.8 %. Profit before tax for the
quarter ended December 31, 2008 was Rs. 244 million while Net Profit was Rs. 151 million.
Subscription revenue continued to deliver YoY growth, a whooping 46% over last year, cashing in on
the extensive DTH proliferation. However, increased prudence in the payment of carriage fees has led
to a temporary slowdown in the subscription revenue from analogue connections in this quarter,
compared to the immediately preceding quarter. The company expects this to be more than
compensated going forward.
The Board of Directors in its meeting held today, has approved and taken on record the un-audited
financial results of Zee News Limited for the quarter ended December 31, 2008.
Commenting on the results, Mr. Subhash Chandra, Chairman said, “We are extremely pleased with our
robust growth despite the financial slowdown. It seems to be a dream run given the current global
economic situation. Our bouquet composition, aggressive and innovative strategy and an ever costconscious
approach to business helped us achieve this feat – something seemingly impossible for most
other media organizations.”
“The company is no longer dependent on two or three key channels. With growing traction in, Zee
Telugu, Zee Business, Zee Kannada and the regional news channels, Zee News Limited is all set to add
additional driver channels going forward. On one hand we are strategically expanding our presence,
while on the other hand, the channels which are not likely to make profit in the near future have been
critically reviewed by the company. The Board has approved the closure of Zee Gujarati w.e.f April 30,
’09. The forthcoming U. P News channel launch will be a key strategic expansion along with other
regional proliferation of our products and services,” he added.
“Zee News Limited is primed to deliver as per the expectations of the investor fraternity and I strongly
believe that its diversified presence and a well laid out expansion strategy – without compromising
current profitability – are going to be value drivers in the time to come,” said Mr. Chandra.
Mr. Laxmi Narain Goel, Managing Director, Zee News Limited, said, “The strong third quarter
performance of the company is not only testimony of our sound business model and practices but also
speaks volumes about the financial discipline followed.”
“Maintaining the uphill trend, the company has recorded a healthy 45.4% increase in top-line of Rs.
1.43 billion. This was led by advertising revenue growth of 38.8% and subscription revenue growth of
46.4%. Consolidated EBIDTA stood at Rs. 299 million, up 35.8%. I am glad that in this era of
perceptible economic slowdown, Zee News Limited has managed to grow and expand both in market
share and revenue,” said Mr. Goel.
EARNINGS RELEASE FOR THE QUARTER ENDED DEC. 31, 2008
Page 3 of 5
Elaborating on the company’s performance, Mr. Barun Das, CEO said, “The ‘existing businesses’
continued to grow and recorded 23% growth in operating revenues while the same for ‘new
businesses’ was 333.3%. While the performance of existing businesses soared high, we consciously
continued with our investment in our leading channels in order to maintain & grow our lead so that we
enjoy higher traction going forward. Viewership experienced an upward spiral with the all channel
viewership share of Zee News Limited channels growing by 31% over the third quarter last fiscal.”

Mumbai : The Board Meeting of Shriram Transport Finance Company Limited (STFC), the largest asset financing NBFC in the country, was held today to consider the financial results as reviewed by the joint auditors for the quarter and nine month ended 31st. December, 2008.

The revenues for the third quarter ended 31st. December, 2008 surged by 48.22% to Rs. 972.85 crores as against Rs. 656.36 crores of the same period previous year. The profit after tax also rose by 34.88% to Rs. 149.31 crores as against Rs. 110.70 crores recorded in the same period previous year.

The revenues for the nine month ended 31st. December, 2008 surged by 58.84% to Rs. 2,697.14 crores as against Rs. 1,698.00 crores of the same period previous year. The profit after tax also rose by 64.96 % to Rs. 458.54 crores as against Rs. 277.97 crores recorded in the same period previous year.

Total Assets under Management as on 31st. December, 2008 surged by 35.80% to Rs. 22,796 crores as against Rs. 16,786 crores of the same period previous year.

Key Highlights:
 FMCG grows 21%
 Profit before Interest, Tax and Exceptional Items grows 15%
 PAT from ordinary activities before exceptional items grows by 13%
 After exceptional items grows by 1%, due to higher exceptional gains in DQ’07 (base)

Mumbai, January 25th 2009: Hindustan Unilever Limited (HUL) announced its results for December Quarter 2008. Net Sales grew by 17% and FMCG by 21% with underlying volume growth of 2%. Strong volume growth in Personal Products and Foods business was partly offset by the impact of slowdown in Soaps and Detergents, due to high input cost led price growth and market volume contraction in Detergents.

HPC Business grew 21% driven by price growth in Soaps and Detergents and all round volume growth in Personal Products. Laundry business grew strongly across all brands and growth in Personal Wash was led by Lux, Lifebuoy, Dove and Pears. Shampoo category continued growth momentum with robust volume growth, led by Sunsilk. Growth in Skin category was driven by Fair & Lovely and Close Up in the Oral category. Dove range of deodorants was launched in this quarter and Surf Excel Quickwash was re-launched.

Foods business grew by 23% with a strong performance across Beverages, Processed foods and Ice-Cream. Tea, Processed Foods and Ice-Cream all delivered strong volume growth. Gelato range of Ice-Creams was launched in this quarter.

Pure-It water business now has a national footprint with availability across more than 700 towns. Performance in this new category is tracking in line with plans.

Input cost inflation has started receding and if sustained, will reflect in lower consuming cost. However, impact of high input cost inflation continued in this quarter. Year -to-date investment behind brands continues at 10.1% of turnover, growing at 16%. Spends during the quarter remain competitive, although marginally lower by 1.3% over DQ’07. In a difficult economic environment, PBIT (bei) grew 15.1% and PAT (bei) grew 12.7%. PBIT margin for the quarter at  16.8% of Sales, was 20 bps below December quarter 2007. Profit after Tax (PAT) from ordinary activities, after accounting for exceptional items grew 1%, due to higher base effect.

Mr. Harish Manwani, Chairman commented: “We continue to deliver strong top line and operating profit growth. Softening commodity prices augur well for the business as we sustain our focus on delivering superior consumer value. In the current economic scenario, market development and consumer spending are being monitored closely to manage the business dynamically. We remain determined to leverage our strong portfolio and scale to deliver competitive and profitable growth.”

• Profit after tax of Rs. 1,272 crore; 25% increase over second
quarter
• 23% year-on-year increase in operating profit for the quarter
ended December 31, 2008
• Strong capital adequacy ratio of 15.6%; highest among large
Indian banks
• 19% year-on-year reduction in costs due to cost
rationalization measures
• Branch network increased to 1,416 branches
The Board of Directors of ICICI Bank Limited (NYSE: IBN) at its meeting
held at Mumbai today, approved the audited accounts of the Bank for the
quarter ended December 31, 2008 (Q3-2009).
Highlights
• The profit after tax for Q3-2009 was Rs. 1,272 crore (US$ 261 million)
which represents an increase of 25% over the profit after tax of Rs.
1,014 crore (US$ 208 million) in the quarter ended September 30,
2008 (Q2-2009). Profit after tax for the quarter ended December 31,
2007 (Q3-2008) was Rs. 1,230 crore (US$ 253 million).
• Operating profit for Q3-2009 was Rs. 2,771 crore (US$ 569 million)
which represents an increase of 23% over operating profit of Rs.
2,259 crore (US$ 464 million) for Q3-2008.
• Net interest income for Q3-2009 was Rs. 1,990 crore (US$ 409
million) compared to the net interest income of Rs. 1,960 crore (US$
402 million) for Q3-2008.
• The Bank earned treasury income of Rs. 976 crore (US$ 200 million)
in Q3-2009, primarily by positioning its treasury strategy to benefit
from the decline in yields on government bonds.
• Operating expenses decreased 19% to Rs. 1,680 crore (US$ 345
million) in Q3-2009 from Rs. 2,080 crore (US$ 427 million) for Q3-
2008. The cost/average asset ratio for Q3-2009 was 1.8% compared
to 2.2% for Q3-2008.
2
ICICI Bank Limited
ICICI Bank Towers
Bandra Kurla Complex
Mumbai 400 051
Operating review
During the current year, the Bank has pursued a strategy of lightening the
balance sheet and prioritizing capital conservation, liquidity management
and risk containment given the challenging economic environment. The
Bank has also placed strong emphasis on efficiency improvement and
cost rationalization. During Q3-2009, the Bank continued with this
strategy, while also taking advantage of market opportunities to increase
its treasury income. In line with the above strategy, the loan book of the
Bank stood at Rs. 212,521 crore (US$ 43.6 billion) at December 31, 2008.
Current and savings account (CASA) deposits constituted 27.4% of total
deposits at December 31, 2008 compared to 27.2% at December 31,
2007.
Branch network
The Bank continues to expand its branch network to enhance its deposit
franchise and create an integrated distribution network for both asset and
liability products. The branch network of the Bank has increased from 755
branches at March 31, 2007 to 1,416 branches at January 23, 2009. The
Bank has also received Reserve Bank of India’s approval to set up 580
branches which would expand the branch network to about 2,000
branches, giving the Bank a wide distribution reach in the country.
Capital adequacy
The Bank’s capital adequacy at December 31, 2008 as per Reserve Bank
of India’s revised guidelines on Basel II norms was 15.6% and Tier-1
capital adequacy was 12.1%, well above RBI’s requirement of total capital
adequacy of 9.0% and Tier-1 capital adequacy of 6.0%.
Asset quality
At December 31, 2008, the Bank’s net non-performing asset ratio was
1.95% on an unconsolidated basis. The consolidated net non-performing
advances ratio was about 1.73%.
Performance highlights of banking subsidiaries
ICICI Bank Canada saw an increase of about CAD 550 million in retail term
deposits during Q3-2009. ICICI Bank Canada’s customer base increased
from about 270,000 at September 30, 2008 to over 291,000 customers at
December 31, 2008. ICICI Bank Canada had liquidity of about CAD 1.1
billion at December 31, 2008. ICICI Bank Canada’s profit after tax for 9M-
2009 was CAD 32.9 million. ICICI Bank Canada’s capital adequacy ratio
was 16.1% at December 31, 2008.
3
ICICI Bank Limited
ICICI Bank Towers
Bandra Kurla Complex
Mumbai 400 051
ICICI Bank UK saw an increase of about USD 530 million in retail term
deposits during Q3-2009. ICICI Bank UK’s customer base increased from
about 258,000 at September 30, 2008 to over 281,000 customers at
December 31, 2008. ICICI Bank UK had liquidity of about USD 1.0 billion at
December 31, 2008. After accounting for the gains on buyback of bonds
and mark-to-market provisions on the investment portfolio, ICICI Bank
UK’s profit after tax for 9M-2009 was USD 1.4 million. ICICI Bank UK’s
capital position continued to be strong with a capital adequacy ratio of
18.6% at December 31, 2008.
Performance highlights of insurance subsidiaries
ICICI Prudential Life Insurance Company (ICICI Life) maintained its market
leadership in the private sector with an overall market share of 12.0% in
retail new business weighted received premium during the nine month
period ended December 31, 2008 (9M-2009). ICICI Life’s total premium
increased by 28% to Rs 9,918 crore (US$ 2.0 billion) in 9M-2009. ICICI
Life’s renewal premium increased by 75%, reflecting the long term
sustainability of the business. ICICI Life’s unaudited New Business Profit
(NBP) in 9M-2009 was Rs. 712 crore (US$ 146 million). Due to the
business set-up and customer acquisition costs, which are not amortised,
and reserving for actuarial liability, ICICI Life’s statutory accounting results
reduced the consolidated profit after tax of ICICI Bank by Rs. 565 crore
(US$ 116 million) in 9M-20091. Assets held increased to Rs. 28,445 crore
(US$ 5.8 billion) at December 31, 2008.
ICICI Lombard General Insurance Company (ICICI General) maintained its
leadership in the private sector with an overall market share of 12.2%
during April-November 2008. ICICI General’s premiums increased 4.1%
on a year-on-year basis to Rs. 2,722 crore (US$ 559 million) in 9M-2009.

Key highlights:
• Net profit after tax of Rs 222.9 crores and revenue of Rs 1132.2 crores
• Net profit after tax grew by 12% and revenue grew by 17 % over the corresponding quarter of the previous year
Financial Summary
Tech Mahindra Limited, one of the largest solution providers in the telecom space, announced 12% growth in net profit after tax and 17% growth in revenue for Q3 09 over the corresponding quarter in the previous year. Tech Mahindra reported consolidated net profit after tax of Rs 222.9 crores for Q3 09 as against Rs 199.6 crores in Q3 08. The Company’s revenue is Rs 1132.2 crores for Q3 09 as against Rs 970.40 crores in Q3 08.
The Company derived 26.3%, 64.5% and 9.2% of its revenues from the US, Europe and ROW respectively.
Tech Mahindra consolidated head count increased from 25,135 in Sep 2008 to 25,429 in Dec 2008.
Mr. Anand Mahindra, Chairman, Tech Mahindra said, “Despite the tough macro-economic environment, Tech Mahindra has demonstrated resilience in its performance. I am confident that we will overcome the challenges of this uncertain environment”.
Mr. Vineet Nayyar, Vice Chairman & MD, Tech Mahindra said, “Our backlog of long term deals has added value in these conditions and will provide enhanced visibility to our performance going forward”.
Operations
During the quarter, Tech Mahindra achieved significant progress in its engagement with BT plc announced in Q2 FY09. Tech Mahindra has been chosen as the prime vendor for a five year transformation program that will deliver improved business agility and lower cost to serve BTGS business. It is anticipated that the total spend on this program would be more than GBP 500m, of which GBP 350 m is expected to be incremental revenue to Tech Mahindra. The transition of this work will commence from April 2009. Tech Mahindra will work closely with BT and will be responsible for the transformation of the IT architecture and systems, governance, and business processes that support the business. Over the next three years, the program will deliver global consolidation of systems and service management and create a robust and reusable systems platform. Tech Mahindra will then operate the platforms for another two years with the option to extend for another two years.
In the OSS domain, Tech Mahindra has partnered with a large telecom equipment manufacturer to deploy a network management solution for a telecom service provider. Tech Mahindra will have end to end responsibility from planning to commission and maintenance of this solution.
In the R&D domain, a large telecom equipment manufacturer has signed a multi year partnership with Tech Mahindra for on-going development, testing and sustenance of multiple product lines. Tech Mahindra with its in-
depth knowledge of service providers will assist the customer in developing new features in line with the changing needs of the market place.
During the quarter, Tech Mahindra has signed a multi year engagement to provide end to end service to an emerging telecom service provider in the Asia Pacific. Under this engagement Tech Mahindra is responsible for system integration, and managed services encompassing both operations and IT, allowing the customer to focus on customer acquisition and building market presence.
Awards & Rankings
• Winner of ‘Deloitte Technology Fast 500 APAC 2008’
• Winner of ‘Deloitte Technology Fast 50 India 2008’
• Winner of ‘Excellence in Growth Award 2008’ by Frost & Sullivan

KEY HIGHLIGHTS:

NET PROFIT UP BY 2.7% TO RS. 1,410 CRORE (US$ 290 MILLION)

REVENUES HIGHER BY 20.0% AT RS. 5,850 CRORE (US$ 1,204 MILLION)

EBITDA HIGHER BY 11.7% AT RS. 2,353 CRORE (US$ 484 MILLION)

EBITDA MARGIN AT 40.2%

NET WORTH EXPANDS TO RS. 29,065 CRORE (US$ 6 BILLION) AND NET DEBT-EQUITY RATIO PLACED AT A CONSERVATIVE 0.64 : 1

AGGRESSIVE NETWORK EXPANSION ACCELERATED WITH RS. 4,361 CRORE (US$ 900 MILLION) CAPITAL EXPENDITURE DURING THE QUARTER

RCOM ANNOUNCED THE WORLD’S LARGEST CUSTOMER EXPERIENCE PROGRAM AND LAUNCHED GSM SERVICES IN 11,000 TOWNS ALL OVER INDIA

__________________________________________________________________________________

Mumbai, January 23, 2009: Reliance Communications Limited (RCOM) today announced its unaudited consolidated financial results for the quarter ended December 31, 2008.
Highlights of the financial performance for the quarter are:

          Net Profit of Rs. 1,410 crore (US$ 290 million), higher by 2.7% compared to Net Profit of Rs. 1,373 crore (US$ 348 million) in the corresponding quarter last year.
       
          EBITDA at Rs. 2,353 crore (US$ 484 million), growth of 11.7%. EBITDA margin at 40.2%

       
          Revenue growth of 20.0% at Rs. 5,850 crore (US$ 1,204 million) from Rs. 4,874 crore (US$ 1,237 million).
        
          Return on Net Worth is 33.3% reflecting improved resource utilization.

       
          Shareholders Equity (Net Worth) increases to Rs. 29,065 crore (US$ 6 billion)
       
          Conservative capital structure – Net Debt to Equity Ratio maintained at a conservative level of 0.64:1, despite capex spend of Rs. 4,361 crore (US$ 900 million) during the quarter.
CORPORATE DEVELOPMENTS

          RCOM launched its GSM services covering 11,000 towns all over India

RCOM announced the world’s largest customer experience program and launched GSM services in 11,000 towns all over India. RCOM has launched its GSM services in just 11 months from the receipt of start-up GSM spectrum in January 2008. RCOM GSM is the state of the art next generation network with digital voice clarity and India’s first nationwide enhanced EDGE network for fast internet access. RCOM GSM will also offer widest R-World mobile content offering entertainment, music, news, cricket, bollywood, maps and search and one-click set-up and access to email and social networking offering communication convenience of a PC.

          Reliance BIG TV crosses 1 million subscribers milestone

BIG TV acquired over 1 million subscribers within 90 days of launch. This is the fastest ramp up ever achieved by any DTH operator in the world. BIG TV would be tapping into the existing customer base of Reliance ADA Group companies to rapidly gain market share. The subscribers can enjoy over 200 channels, 32 on-demand channels, which is highest in the industry. The product is available in 1 lakh retail outlets across 6,500 towns.

          RCOM repurchased its FCCBs at a discount

RCOM repurchased 250 zero coupon Foreign Currency Convertible Bonds (FCCBs) with the face value of US$ 100,000 each aggregating to US$ 25 million (approx Rs. 121.22 crores) at a discount of 52.5% on December 29, 2008.
RCOM also repurchased 100 zero coupon Foreign Currency Convertible Bonds (FCCBs) with the face value of US$ 100,000 each aggregating to US$ 10 million (approx Rs. 48.77 crores) at a discount on January 21, 2009.