Suashish Diamonds Triples Its Net Profits In Q2 2007
Suashish Diamonds Limited, one of India’s leading diamond and diamond jewellery manufacturing and exporting groups, declared its financial results for the 2nd quarter ending 30th June 2007.
During the quarter, the company achieved a turnover of Rs.182.56 crores and tripled its PAT (profit after tax) from Rs.8.37 crores in 2006 to Rs.26.33 crores in 2007. in terms of year to date (YTD) H1, the company has also witnessed a topline growth in excess of 10% from Rs. 374.08 crores to Rs. 412.94 crores.
Ashish Goenka, Managing Director of the Suashish Diamonds said, “the company has performed exceedingly well, inspite of a marginal drop in y-o-y topline, the company continues to strengthen its bottom-line. we continue to focus on driving operational efficiencies, and enhance efforts to build our proprietary business”.
The decision of going downstream with higher focus on jewellery sales through retail chains and through its brand Ishi’s has paid rich dividends in the form of increased customer loyalty and substantially better-margins. suashish is a vendor partner to 5 out of the top 10 jewellery retailers in the world and is emerging as a leader in jewellery exports from india.
In India the local diamond jewellery segment has also grown by over 26% in 2006. the brand ‘ishi’s’ is well positioned to take advantage of growing consumer spends in the country’s changing retail environment. over the past year Ishi’s has done very well and is now available in over 130 outlets, spread across India and The Middle East.
The company is continuously investing in scaling up its operations and building infrastructure for sustainable growth.
Jagran Prakashan Q1 Net Up 51.62%
Driven by significant advertising revenue growth, Jagran Prakashan Limited (JPL), publishers of Hindi daily 'Dainik Jagran', on Friday reported a 51.62 per cent increase in its net profit for the quarter ended June 30.
The company said its net profit for the period under review stood at Rs 34.71 crore against Rs 22.89 crore in the corresponding period last year.
The media house's total revenues for the said quarter stood at Rs 192.27 crore, an increase of 34.69 per cent compared to Rs 142.75 crore in the last fiscal.
"We dedicated our efforts towards strengthening Dainik Jagran and various other initiatives. We are pretty positive about future of the media industry in general and business in particular," JPL Managing Director and Chairman Mahendra Mohan Gupta said.
The steady growth in the revenue has been driven by the significant growth in advertisement revenue, which grew by 42 per cent, at Rs 126.74 crore from Rs 89.22 crore, it said, adding revenue from businesses other than publication was Rs 11.49 crore.
Genus Launches RFID Based Electric Meters
Genus Overseas Electronics Ltd has announced that it has come out with a RFID based contactless smart card Pre Paid meter, which has distinct advantages over the conventional key paid based or plug in type card based Pre Paid Meters. The new developed product is in line with the 11th Power Plan recommendation on Pre Paid Meters.
The new product will ensure advance revenue collection for the utilities and with the Government policies aligning to promote the concept will have a huge market potential in coming years.
The pilots for the technology have already started in India and the product is getting an international acceptability. Recently Genus pre paid meters have been approved by Brazalian Utilities.
Genus is providing the complete infrastructure in terms of vending station, servers and relevant software and in all probability will ensure a better revenue recovery model for Electricity Utilities.
Genus is expecting very good orders for the aforesaid new product from State Electricity Board and Private Utilities.
For over a decade "Genus" has been providing Technically advanced Metering Products and Solutions through which Electricity Distribution Utilities have been able to control and reduce the Electricity theft and have also been able to improve the revenue recovery.
INOX Leisure Records 31% YoY Increase In Net Profit
- 33% YOY growth in total revenues for Q12007-08 at Rs. 54.07 crores versus Rs. 40.53 crores in the same quarter of the previous year.
- EBITDA for Q1 is at Rs. 17.48 crores compared with Rs. 13.56 crores in the same quarter of previous year, a growth of 29 % .
- PAT has increased to Rs 10.96 crores versus Rs. 8.37 crores in Q1 2007, a growth of 31%
- Properties under operation up to 15 in Q1 2007-08 from 11.
- Screens under operation up to 54 in Q1 2007-08 from 41 .
- Footfalls up 38% to 2968373 in Q1 2007-08 from 2153818
The Board of Directors of INOX Leisure Limited (ILL) announced its results for the first quarter of the financial year 2007-2008, following its meeting on Monday, 30 July 2007 in Mumbai. For the quarter ended 30th June 2007, INOX reported a 34% increase in total revenues from Rs. 40.53 crores in 2006-07 to Rs. 54.07 crores in 2007-08.
The profit after tax for the quarter ended 30th June 2007 amounted to Rs. 10.96 crores, as compared to Rs. 8.37 crores in the corresponding quarter of the previous year – an increase of 31 %. EBITDA saw a growth of 29% from Rs. 13.56 crores in 2006-07 to Rs. 17.48 in 2007-08.
Commenting on the results, Mr. Deepak Asher, Director - INOX Leisure Ltd. said, “Our results reflect INOX’s ability to maintain its profit leadership position along with a high growth momentum. Going forward we remain focused on creating India’s largest network of world class multiplexes across the country."