Greaves’ FY08 net up 44%

Mumbai, May 23: Electrical equipment manufacturer Crompton Greaves on Friday announced a consolidated net profit of Rs 143 crore for the fourth quarter ended March 31.

For the year ended March 31, the company said a consolidated net profit of Rs 406 crore, against a net profit of Rs 281 crore in the year-ago period, Crompton Greaves said in a filing to the Bombay Stock Exchange.

The total income rose to Rs 6,900 crore, from Rs 5,744 crore in the year-ago period.

The figures of the current year include the results of the subsidiaries acquired by the company during the year. (PTI)

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Neuland Lab net up 25%

By OUR CORRESPONDENT

Hyderabad, May 23: Hyderabad-based Neuland Laboratories’ annual net profit jumped 25 per cent on the back of increased focus on contract research services. The active pharmaceutical ingredients (API) provider posted net profit of Rs.11.35 crore as against Rs.9 crore last year.

"The dollar appreciation really hit our profits. Had the dollar remained stable, we would have had a profit of Rs.20 crore," chief operation officer Mr Sucheth Rao said.

Neuland’s topline went up about 13 per cent annually to Rs.230 crore. 43 per cent of the revenue came from Europe.

The company has invested Rs.100 crore over the last 3 years in contract and clinical research. It has a capex budget of Rs.40 crore for FY 09. "We have lined up plans for emerging as a formidable player in the clinical trial segment. Our JV with US-based Cato Research for undertaking their clinical trials in India is a step towards this direction," Rao said.