Bharti Airtel net rises 79 pc in Q2
New Delhi: Bharti Airtel has reported a 79 per cent increase in net profit to Rs934 crore in the second quarter ended September 30, 2006 compared to Rs521 crore for the corresponding quarter last fiscal.

Consolidated total revenue rose to Rs4,357 crore, registering a growth of 61 per cent compared to Rs2,709 crore.

Bharti Airtel added 41.1 lakh new customers in the second quarter this year, the highest ever subscribers added by the telecom company in a single quarter. Its total subscriber base stood at 2.86 crore and it had a 21.4 per cent share of the mobile market.

For the half year ended September 30, the company reported consolidated total revenue of Rs8,214 crore, up 57 per cent from Rs5,226 crore in the same period last year. Consolidated net profit grew 64 per cent to Rs1689 crore compared to Rs1031 crore in the year-ago period. The numbers were compiled under US GAAP accounting standards. Bharti Airtel is planning to acquire mobile operating firms in emerging markets such as Africa, West Asia and South Asia to expand its business.
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Oyzterbay in tie up with Rajesh Exports
Pune: Branded jewellery maker Oyzterbay has formed a joint venture company with Rajesh Exports, the world's largest manufacturer of gold jewellery, to set up a retail chain under the name of Laabh Jewellers that will sell branded gold jewellery.

This is the first retail undertaking for Rajesh Exports which holds a majority stake in the venture, which will set up franchisee outlets across major towns in the city and compete for a slice of the gold jewellery market estimated currently at Rs60.7 lakh crore.

Laabh outlets will specialise in traditional 22 carat gold jewellery.

Oyzterbay on the other hand is more known for its more contemporary designs aimed at the more urban, younger and upmarket buyers.

The new venture will offer some 3,000 designs from jewellery traditions across the country and will be targeted at the traditional, more mature consumer who buys for occasions such as weddings.

The company has started opening Laabh outlets across towns like Ludhiana, Lucknow, Guwahati, Amritsar, Bangalore, Kolkata, Srinagar, Jammu and Pune and plans to have 28 stores in place by the end of the month.
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Tulip IT Q2 net up 110 pc
New Delhi: Data communication services provider Tulip IT Services has posted a 110 per cent year-on-year increase in net profit in the second quarter ended September 30 to Rs20.2 crore.

The revenues of the company during the quarter were up 68 per cent to Rs185.21 crore.

H S Bedi, chairman and managing director of Tulip said the company growth was driven by greater customer acceptance of the company's offerings. He added that companies were gradually shifting to wireless for last mile connectivity.

Tulip received a National Long Distance licence in the September quarter, will now use it to offer its services in cities all over India. Earlier, it was using the license for internet service providers only for connectivity between cities.

The company currently offers services at 550 locations and by the end of this year the number would go up to 800, Bedi said.

The company has also applied for International Long Distance telephony license to help it provide data connectivity services globally.
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Century Textiles Q2 net rises 10-times to Rs75-cr
Mumbai: Century Textiles & Industries profit rose ten times to Rs74.79 crore for the second quarter ended September 2006 as against Rs7.41 crore in Q2FY06.

The company's revenue rose by 27.72 pc to Rs760.05 crore as against Rs595.08 crore Q2FY06.

The income from other operations like salt, chemicals and floriculture increased to Rs17.94 crore registering an increase of 48.02 pc during Q2FY07 as against Rs12.12 crore in Q2FY06.

The cement operations of the company increased by 44.20 pc in sales at Rs397.11 crore as against Rs275.39 crore Q2FY06 while textile sales increased by 12.17 pc to Rs200.96 crore from Rs179.22 crore.
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Gavel looks at expansion: plans to open 60 stores
New Delhi: Essel Group's retail arm Gavel Fashions is planning to open 60 stores in various cities and is targeting a turnover of Rs 300 crore in the next three years.

The company would operate in the luxury retail segment and focus on international apparel and fashion accessories brands.

Essel Group will make the initial investments required for opening the retail outlets.

The company plans to bring about 20 global brands to India. It has signed agreements with two Italian menswear apparel brands.

The stores would either mono-brand or multi-brand. The company would open its second store in Mumbai by July 2007. Other cities on the company's list are Bangalore, Kolkata, Hyderabad, Chandigarh and Ludhiana.
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BHEL Q2 net rises 38 per cent
Mumbai: Bharat Heavy Electricals(BHEL) has reported a 38.38 pc increase in net profit at Rs360.01 crore for the second quarter ended September 2006 (Q2FY07) when compared with Rs260.16 crore in Q2FY06.

The company's total income grew 34.21 pc to Rs3,511.04 crore from Rs2,615.95 crore in Q2FY06.
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Dr Reddy's reports Q2 consolidated net at Rs292-cr
Mumbai: Dr Reddy's Laboratories has posted a consolidated net profit of Rs292.50 crore for the quarter ended September 30, 2006 against Rs90.91 crore for Q2 last year.

According to the release issued by Dr Reddy's to the BSE today, total income is Rs1982.60 crore for the quarter ended September 30, 2006 whereas the same was Rs584.68 crore for the quarter ended September 30, 2005.

The company has posted a standalone net profit of Rs272.66 crore for the quarter ended September 30, 2006 as compared to Rs107.54 crore for Q2FY06. Total income has increased to Rs948.96 crore for the quarter ended September 30, 2006 from Rs543.05 crore for Q2FY06.

The consolidated results of the current quarter include the results of acquisitions by the company and are therefore not comparable with the previous period, the release added.
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Patni Q3 consolidated net rises 37 pc
Mumbai: Patni Computer Systems has posted a 37.2 pc rise in consolidated net profit at Rs102.4 crore in its third quarter ended September 2006 as compared with Rs71.4 crore in Q3FY06.

The company has recorded a 6.1 pc increase in revenues at Rs697.1 crore against Rs646.2 crore Q3FY06. Operating income rose 40.8 pc to Rs115.3 crore compared with Rs78.3 crore recorded during Q3FY06.
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MTNL offers `One India' plan country wide
New Delhi: Mahanagar Telephone Nigam has announced STD tariffs of Re1 per minute for calls made to any part of the country under the One India plan. Earlier, MTNL had introduced One India tariffs for calls between Delhi and Mumbai only. The move comes after a similar tariff cut by the other state-owned telecom major Bharat Sanchar Nigam Ltd.

Unlike the BSNL tariff plan, MTNL is not offering any free calls under the scheme. While BSNL had made the plan available for all its subscribers having the Rs180 monthly rental plan, MTNL subscribers will have to apply separately to avail themselves of the new tariff. Under the MTNL One India plan, subscribers making local calls to another MTNL or BSNL subscriber will be able to make local calls at Re 1 for a three minute call compared to Rs1.20 for a three minute call at present. However, local calls to a private operators' subscriber has got dearer under this scheme at Re1 per minute compared to Re1.20 for three minutes under the exiting schemes.

Releasing its unaudited financial results for the second quarter ended on September 30, MTNL has posted a net profit of Rs121 crore as compared to Rs162.5 crore during the corresponding quarter of the previous year. The company's income from services dipped to Rs1,220 crore during the second quarter of 2006-07 as compared to Rs1,276 crore during the corresponding quarter of previous year. Income from mobile services went up from Rs128 crore to Rs182 crore, which is a 42.02 per cent increase.
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BHEL gets order worth Rs950-cr
Tiruchi: BHEL has received an order worth Rs950 crore for setting up a 99-MW captive power plant on EPC (engineering, procurement and construction) basis. This is the highest-value single order ever won by the BHEL for setting up a captive power plant. The power plant will be equipped with eco-friendly, state-of-the-art circulating Fluidised Bed Combustion (CFBC) boilers, specifically designed to utilise petcoke fuel. Bharat Oman Refinery Limited (BORL) has placed the order on BHEL for setting up a 3x33 MW captive power plant at Bine in Madhya Pradesh.

The order assumes special significance, as it was won against international competitive bidding, and is the first order for Petcoke-fired CFBC boilers on BHEL. The eco-friendly power plant will meet the process steam and power requirement on the upcoming refinery project.
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Tata Tele aims to garner 1 million users in Kolkata
Kolkata: Tata Teleservices has crossed the one million subscribers mark in West Bengal and is now targeting a customer base of one million in the Kolkata Telecom Circle alone by end-March 2007. At present, the company's subscriber base in Kolkata is around 7,50, 000 while the rest of West Bengal has around 2,50,000 Tata Indicom Mobile, Walky and PCO subscribers taken together.
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