GMR Infrastructure has posted 129% growth in net profit after tax and minority interest at Rs 50.0 crore for the quarter ended March 31, 2008 as compared to Rs 21.9 crore for the quarter ended March 31, 2007. Net Revenues have increased 43% from Rs 619.6 crore for the quarter ended March 31, 2007 to Rs 885.3 crore for the quarter ended March 31, 2008.
For the year ended March 31, 2008, the company has posted a jump of 20% in net profit after tax and minority interest at Rs 210.1 crore for the year ended March 31, 2008 as compared to Rs 174.4 crore for the year ended March 31, 2007. Net Revenues have increased from Rs 1,696.7 crore for the year ended March 31, 2007 to Rs 2,294.8 crore for the year ended March 31, 2008.
GMR Infrastructure plans to invest Rs 2,400 crore this fiscal in various road projects. The company expects to commission four important road projects - two in Andhra Pradesh, one in Tamil Nadu and one in Ambala, by the end of the year.
Further GMR Infrastructure’s unit GMR Energy Ltd has acquired a 5% stake in South Africa’s Homeland Mining and Energy SA (Pty) Ltd, a unit of Canada’s Homeland Energy Group Ltd. It also has an option to buy additional 45% stake in the company.
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Bharti Airtel has signed a $35 million, three-year outsourcing agreement with BPO services provider Firstsource Solutions, which will offer both voice and backoffice services in areas such as customer accounting, VAS provisioning, fraud and credit monitoring, customer service, collections and customer retention to Airtel. While company officials declined to provide financial details, sources said the deal was valued at around $35 million.
In August 2005, Bharti had announced a Rs 1,000-crore deal with BPO firms IBM Daksh, MphasiS, TeleTech and Hinduja TMT to outsource its call centre operations. The Firstsource deal is another instance of the company's strategy to focus on its core areas of product innovation, marketing, brand building. Airtel has already outsourced its IT requirements to IBM and cellular networking operations of Nokia and Ericsson. However, the contract with Firstsource is more comprehensive as it includes mobile collection, welcome calling, VAS provisioning besides other services.
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Dr Reddy’s Laboratories (DRL) suffered a 68% fall in Q4 net profit ended March 2008, after writing down the intangible value of the products of its buyouts in Mexico and Germany, besides products in Spain. Fall in the revenues from generic drugs and pricing pressures from the US and Germany also pulled down revenues for the quarter by 15% year on year.
Net profit fell to Rs 102.8 crore in Q4FY08 from Rs 325.2 crore in the corresponding period of FY07 when it was aided by 180-day exclusivity for the generic version of a drug Zofran. In the period under review, revenues dropped to Rs 1,325.2 crore from Rs 1,557.3 crore. DRL is targeting a revenue growth of 25% in this fiscal. The focus will be to strengthen its global generics business in US and Europe, to build on the momentum in Active Pharma Ingredients and Organic Custom Pharma Services (CPS) business, and accelerate pipeline development and infrastructure in the innovation business.
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