India Earnings - CEAT, Nagarjuna Cons, Glenmark, ICICI Bank,

CEAT : Ceat swung to loss for the quarter ended September 2008. During the quarter, the company reported loss of Rs 288.30 million compared with a profit of Rs 255 million in the same quarter, previous year. Net sales for the quarter rose 16.41% to Rs 6,789.10 million, while total income for the quarter rose 15.08% to Rs 6,800.20 million, when compared with the prior year period. The company reported loss of Rs 8.42 a share during the quarter compared with earnings of Rs 5.59 a share in previous year period. During the quarter, interest cost increased 20.58% to Rs 166.40 million while depreciation cost fell 46.28% to Rs 42.60 million over previous year period.

Nagarjuna Construction : Company disclosed a good increase in its standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company rose 25.71% to Rs 423.02 million from Rs 336.50 million in the same quarter, previous year. Net sales for the quarter jumped 55.92% to Rs 10,558.20 million, while total income for the quarter jumped 55.98% to Rs 10,568.15 million, when compared with the prior year period. The company reported earnings of Rs 1.85 a share during the quarter, registering 14.91% growth over previous year period. During the quarter, the operating margin of the company declined 225.16 basis points to 10.27% compared with the previous year period. Interest cost increased 17.70% to Rs 274.60 million while depreciation cost rose 27.49% to Rs 149.42 million over previous year period.

Glenmark Pharma : Consolidted Result Glenmark Pharmaceuticals announced a significant growth in its consoliadted net profit for the second quarter ended Sep. 30, 2008. During the quarter, the net profit after tax rose 56.22% to Rs 1,173.6 million from Rs 751.26 million in the same quarter, last year. The total income for the quarter rose 58.93% to Rs 6,042.11 million from Rs 3,801.66 million in the corresponding quarter, a year ago.
Standalone Result  The company disclosed a marginal rise in its standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company rose 4.73% to Rs 668.87 million from Rs 638.64 million in the same quarter, previous year. Net sales declined 19.06% to Rs 2,260 million, while total income for the quarter fell 10.53% to Rs 2,513.71 million, when compared with the prior year period.
 

ICICI Bank : Bank announced a 27.45% fall in its consolidated net profit for the second quarter. The bank posted a net profit of Rs 6,514.80 million for the quarter ended Sep. 30, 2008 as compared to Rs 8,979.20 million for the quarter ended Sep. 30, 2007.  Total Income increased from Rs 138,505.70 million for the quarter ended Sep. 30, 2007 to Rs 155,904.60 million for the quarter ended Sep. 30, 2008, a rise of 12.56%. On standalone basis, the bank reported a marginal rise in net profit for the quarter ended September 2008. During the quarter, the profit of the bank rose 1.16% to Rs 10,142.10 million from Rs 10,026 million in the same quarter, previous year. Interest income for the quarter rose marginally 4.24% to Rs 78,349.80 million, while total income for the quarter rose marginally 1.29% to Rs 97,123.10 million, when compared with the prior year period. The bank reported earnings of Rs 9.11 a share during the quarter, registering 0.22% decline over prior year period. The bank`s UK subsidiary reported a loss of USD 35 million due to mark to market credit crisis. 



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