Berlin  - Europe's biggest carmaker Volkswagen AG reported Wednesday a 35-per-cent jump in second-quarter earnings as demand for new models helped to offset surging fuel costs and growing economic uncertainty.

Net profit for the German-based auto group rose to 1.643 billion euros (2.58 billion dollars) compared to 1.22 billion euros posted in the same period last year, with key emerging economies expected to power the company's business growth during the rest of the year.

"This shows that we are on the right track," said VW chief Martin Winterkorn, releasing the results. "Our innovative products are meeting with an enthusiastic response from our customers."

Turin, Italy - Italian industrial group Fiat reported Wednesday a 3-per-cent rise in second-quarter profit over the previous year - a performance sustained by an increase of sales in its auto division including strong growth in the Brazilian market.

Net profit before minority interests totalled 646 million euros (1.02 billion dollars) from 627 million euros for the same period last year, the Turin-based company said in a statement.

Sales rose by nearly 12 per cent to 17 billion euros, it said.

The company's main auto division, which makes Fiat branded models - including the Punto, Bravo and Fiat 500 - as well as Alfa Romeo, Lancia, Maserati and Ferrari, recorded a 14-per-cent climb in sales to 8.4 billion euros.

Steel authority of India limited (SAIL), country’s largest steel producer, recently posted a profit of Rs 1,835 crore for the quarter ended June 30.

The company has registered a growth of 20.3 % over corresponding period of the prvious financial year. In the first quarter of fiscal 2007-08, SAIL has a net profit of Rs 1,525.12 crore.

From Rs 8,346.40 crore in the year-ago period, the company’s total income has rose by 36.85 % bringing it up to Rs 11,421.99 crore in the latest quarter.

Despite of the burden of Rs 1,434 crore because of higher costs of coal, freight, ferro-alloys, fuels and maintaining a constant price line during May-June period, the company still showed improvement in its financial performance.

The net profit of Dr. Reddy’s Laboratories fell down by 26 per cent in Q1 of the exiting fiscal. This fall is noticed due to increase in selling and general and administrative expenses suffered by company for the period of Q1.

The net profit of the country's largest carmaker, Maruti Suzuki fell down by 6.75 percent for the first quarter ended June 2008. This fall in the profit is due to rising cost of raw materials, a change in accounting norms and a loss from derivative instruments. Maruti reported a net loss of Rs13.90 crore from derivative instruments.