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Agricultural, Pharma companies most profitable in H1 2008
By siliconindia
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Friday, 02 January 2009, 21:50 IST
New Delhi: The organizations that have recorded the highest profit growth in the first half of fiscal 2008-09 (H1) are TTK Healthcare, NIIT, Bannari Amman, Punjab Alkalies and Whirlpool, according to an analysis by the Economic Times. Profits of these companies had increased by more than 500 percent in this period.
Coromandel Fertiliser, RCF, Excel Industries, Punjab Tractors, Excel Crop Care, Liberty Phosphate, Swaraj Engines and Nagarjuna Agrichem are the companies from the farm and agricultural sector, that have reported a higher growth rate for the first half, owing to a robust rural demand for farm inputs and machinery.
However, larger organizations such as Tata Steel, Sterlite, Punj Lloyd, Dr Reddys lab and Piramal Healthcare have been able to record net profit growth rates as stand alone companies, but not after factoring in the financials of their subsidiaries.
A rise in consolidated profits due to overseas acquisitions was also witnessed last year. For instance, UK-steel maker, Corus recorded a four-fold jump in its consolidated numbers after becoming a Tata subsidiary last year as compared to its results in H1, 2006-07.