Big Brands Earn Profit in Q1
The big names in the Indian Industry have reported good profit earned in the first financial quarter of the year 2014. The IndianOil Corporation, which went in loss last year has earned a net profit of 2,523 crore on Income from Operations of Rs. 1,24,957 crore for the quarter ended June 30, 2014. While last year during the corresponding period, the corporation reported a net loss of Rs. 3,093 crore on Income from Operations of Rs. 1,10,467 crore.
The Chairman of IndianOil Corporation, B. Ashok said, ““IndianOil sold 19.772 million tonnes of products, including exports, during April-June 2014. Our refining throughput for Q1 2014-15 was 12.866 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 18.890 million tonnes during the same period”.
One of the leading names in motor industry, Tata Motors has reported a growth of around 38.2% in revenue over Rs.46,796 crores for the corresponding quarter of the previous year. The consolidated revenue has reached to Rs.64,683.
On the other hand, the leading food company Britannia Industries Ltd. reported consolidated revenue growth of 15% at Rs.1,773 crores for the quarter ending June 2014.
Mr. Varun Berry, the Managing Director of Britannia Industries Ltd. Commented, “Our results are a reflection of our focus on driving consumer off-take & leveraging fundamental levers of operations to generate sustainable and profitable growth. Our team of passionate Britannians is creating a solid infrastructure and culture to take the business to new heights. Our approach is to build each element of the business block by block”.
At the inauguration of the two day Annual Conference of Chief Commissioners and Directors General of Customs, Central Excise and Service Tax, the Finance Minister Arun Jaitley said, “The figures relating to manufacturing sector in the months of June and July this year are quite encouraging. If this trend continues for few more months only then it will constitute a pattern.”
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