GAIL (India) Limited has accounted a fall of 27% in its net profit at Rs 656 crore for the first quarter ending June 30, 2009.

However, its turnover rose by 5% to Rs 6,021 crore from Rs 5,731 crore in the same period last fiscal.

Mr. UD Choubey, GAIL CMD told that there was some good and bad news in the quarter passed by.

There was an increase of around 14% in gas transmission.

CEAT Ltd, leading tyre manufacturer, has come out with its net profit for the first quarter ended June 30, 2009. The company posted a net profit of Rs 60.2 crore in the latest quarter.

The company today announced that its net sales stood at Rs 674 crore.

Its operating profit before tax to net sales ratio of 13.5% in the first quarter is the highest in the industry.

CEAT's Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of 16.3% is again the industry-best for the first quarter.

Private carrier Jet Airways India posted a net loss of Rs 225.33 crore in the first quarter ended June 30, 2009.

The airline had a net profit of approximately Rs 143.38 crore in the same quarter last fiscal.

The private carrier declared in a filing to the BSE that total income went down to Rs 2,371.21 crore in the quarter ended June 30, 2009 from Rs 2,867.16 crore in the same quarter in the last fiscal.

Wipro Ltd, India’s third largest software services exporter, reported a growth of 12% in its net profits to Rs 1,016 crore beating the analyst’s expectations for the quarter ended June 30, 2009, as compared to the same period of the last year. The topline of the company, which also deals with soaps, furniture and heavy engineering equipment, climbed up by 5% to Rs 6,274 crore.

Revenue from the flagship IT services stood at Rs 4,825 crore — a 10 per cent growth YoY and a sequential dip of 2 per cent.

Bharti Airtel, the country's largest GSM mobile phone operator, on Thursday announced its results for the quarter ended June 30, 2009.

The company reported a growth of 24.3% in its net profit at Rs 2,517 crore for the first quarter

According to the company, the rise in net profit is due to the growth in the number of rural subscribers and foreign currency benefits.

But the revenue growth of the company was impacted by the fall in mobile termination charge to 10 paise and stiff competition.

Infrastructure Development Finance Company (IDFC) has posted 25.7% growth in its consolidated net profit, which stood at Rs 272.44 crore for the first quarter of current fiscal, as compared to Rs 216.71 crore in the same quarter of last year.

The company's total income grew by 14.26% to Rs 994.61 crore for the first quarter, as against Rs 870.51 crore in the same period last year.

IDFC registered a profit of Rs 243.50 crore, up 19%, in the quarter ended June 30, 2009, as compared to Rs 204.73 crore in the same quarter last year.

HDFC Bank has announced the esults for the first quarter ended June 30, 2009.

The country's second major private sector lender has posted a growth of 31% in its net profit, which stood at Rs 606 crore, assisted by a significant growth in non-interest income.

The bank had posted a net profit of Rs 464 crore in the same period of the last year.

The non-interest income increased 76% to Rs 1,044 crore from Rs 593 crore in the last year.

The Punjab National Bank, country’s second major public sector lender, recorded 86% surge in net profit for the three month period ended December 31, 2008 

The bank has posted a net profit at Rs 1,006 crore for the quarter ended December 31, 2008 against Rs 541 crore for the same quarter previous year.

According to sources, the bank has registered a 51% surge in total income at Rs 6,240 crore for the quarter as compared to Rs 4,119 crore in the corresponding quarter a year ago.

Chennai-based state-run lender Indian Overseas Bank (IOB) has announced that it has entered into a joint venture with Bank of Baroda and Andhra Bank with the aim to start operations in Malyasia.

The new joint venture is expected to start operations by end of fiscal 2009.
 
In the new joint venture IOB will own 30% stake while Bank of Baroda and Andhra Bank will acquire 40 and 30 per cent respectively.

Tata Power Company, a leading power major, has clocked phenomenal decline in standalone net profit for the three month period ended December 2008.

During the quarter, the profit of the company slashed 48.76% to Rs 1,010.80 million against Rs 1,972.80 million in the same quarter of previous fiscal.

Net sales grew 25.18% to Rs 17,768.70 million, while total income rose 24.78% to Rs 18,228.70 million for the quarter ended December 2008 against with the prior year period.