Corporate News Updates 01-Feb

• Net profit of Parenteral Drugs India rose 140.00% to Rs 15.00 crore in the quarter ended December 2010 as against Rs 6.25 crore during the previous quarter ended December 2009. Sales rose 58.95% to Rs 127.54 crore in the quarter ended December 2010 as against Rs 80.24 crore during the previous quarter ended December 2009.
• Net profit of Suryalata Spinning Mills rose 286.81% to Rs 5.57 crore in the quarter ended December 2010 as against Rs 1.44 crore during the previous quarter ended December 2009. Sales rose 54.57% to Rs 66.34 crore in the quarter ended December 2010 as against Rs 42.92 crore during the previous quarter ended December 2009.
• Net profit of HSIL rose 176.63% to Rs 27.58 crore in the quarter ended December 2010 as against Rs 9.97 crore during the previous quarter ended December 2009. Sales rose 35.59% to Rs 276.88 crore in the quarter ended December 2010 as against Rs 204.20 crore during the previous quarter ended December 2009.
• Net profit of Nidhi Polyester rose 1300.00% to Rs 0.42 crore in the quarter ended December 2010 as against Rs 0.03 crore during the previous quarter ended December 2009. There were no sales reported in the quarter ended December 2010 and during the previous quarter ended December 2009.
• The US-based GE Energy today said it would supply gas turbines to Sravanthi Energy for its 450 MW power project at Kashipur in Uttarakhand. GE will supply four gas turbines and associated generators for the Sravanthi project, which is expected to be developed in two 225 MW phases.
• Aditya Birla Group has reached an agreement to buy US-based Columbian Chemicals for about $800 million, a business daily reported on Monday, citing unnamed sources with direct knowledge of the deal.
• Global energy demand will jump by 35 per cent by 2030 vis-a-vis 2005 levels amid rapid economic growth and an improvement in living standards in developing nations, an Exxon Mobil Corp forecast shows.
• State-run explorer Oil and Natural Gas Corporation (ONGC) may take part in development of Russia's Trebs and Titov Arctic oilfields together with mid-size Russian group Bashneft.