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Financial results — Nestle – Archies – Gati – Suraj Diamonds – Spentex – Salora

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• Nestle net rise 18 per cent

Nestle India has reported an increase of 18.09 per cent in net profit for the second quarter ending June 30, 2007, at Rs 95.69 crore – from Rs 81.03 crore posted during the corresponding period of the previous year. The company also recorded a growth of 23.15 per cent in its net sales to Rs 838.88 crore.

“Blending our long Indian heritage with our understanding of food and nutrition and access to R&D capabilities worldwide, we have developed a strong science-based innovation and renovation pipeline that is showing in our results,” Martial Rolland, chairman and managing director, Nestle India, said in an official release.

• Archies slip at 4.46 per cent

Archies Ltd reported a 4.46 per cent fall in net profit for the first quarter ended June 30, 2007, at Rs 1.07 crore – from Rs 1.12 crore in the same period of the previous year. However, it saw an increase of 21.66 per cent in its net sales to Rs 21.68 crore.

The company has announced the appointment of Pramod Arora as its joint managing director. It is also planning to open 30 new outlets in the next nine months.

• Gati revenues see 22 per cent rise at Rs 461 crore

Witnessing growth of 22.54 per cent, Gati, a leading distribution and supply chain solutions company, registered revenues worth Rs 461.03 crore for the year ended June, against Rs 376.24 crore last year.

“We have opened seven express distribution centres and plan to open 11 more across the country in the next two years,” said Managing Director and CEO Mahendra Agarwal.

• Suraj Diamonds manage 28 per cent growth

Suraj Diamonds & Jewellery Ltd posted 28 per cent growth in its net profit at Rs 11.8 crore, for the first quarter of 2007-08, from Rs 9.2 crore during the same period last year.

The net sales rose 27.22 per cent from Rs 310 crore to Rs 394.4 crore. Operating profits improved by 18 per cent to Rs 16.6 crore, from Rs. 14.1 crore.

• Spentex Industries make Rs 3.23 crore profit

Spentex Industries Ltd reported a net profit of Rs 3.23 crore for the first quarter ended June 30, compared with Rs 1.21 crore in the same quarter last fiscal. Net sales stood at Rs 267.96 crore, up from Rs 163.81 crore in the corresponding quarter.

• Salora achieve 246.57 per cent net rise

Salora International saw an increase of 246.57 per cent in its net profit for the first quarter ended June 30, 2007, amounting to Rs 5.06 crore – as compared to Rs 1.46 crore in the same quarter of the previous year. The company recorded a growth of 48.82 per cent in its net sales to Rs 244.86 crore.

The growth in net profit has mainly been due to the better margins,” said Gopal Jiwarajka, vice-chairman and managing director, Salora International.

– Compiled by Ranjan Kaplish

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