Banks do well despite slowdown

Banks do well despite slowdown
PTI
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First Published: Thu, Jan 29 2009. 09 33 PM IST
Updated: Thu, Jan 29 2009. 09 33 PM IST
Andhra Bank beats forecast, Dec quarter net at Rs213 cr
Mumbai: State-run lender Andhra Bank on Thursday said that its October-December net profit rose to Rs213 crore from Rs159 crore a year-ago.
A Reuters poll of brokerages had forecast net profit of Rs196 crore for the quarter.
Reuters
Dena Bank third quarter net up 39% to Rs140.36 cr
Mumbai: Public-sector lender Dena Bank said that its net profit in the third quarter grew 38.87% to Rs140.36 crore, against Rs101.07 crore in the corresponding period a year ago.
Total income rose to Rs1,093.54 crore in the December quarter from Rs804.13 crore a year ago.
PTI
Bank of Baroda Q3 net rises 41% to Rs708.37 cr
Mumbai:Bank of Baroda said on Thursday its stand-alone net profit for the third quarter ended 31 December rose 41.37% to Rs708.37 crore, against Rs501.05 crore in the corresponding period last fiscal.
Total income rose to Rs4,954.49 crore for the quarter under review, against Rs3,620.18 crore in the year-ago period.
PTI
Cairn India posts net profit of Rs236.42 crore
New Delhi:Cairn India Ltd on Thursday reported a consolidated net profit of Rs236.42 crore in the quarter ended 31 December, compared to a loss of Rs13.91 crore in the year-ago period. The net profit included one-time reversal of deferred tax liability amounting to Rs123.60 crore, the company said in a statement here.
The consolidated profit before tax for the fourth quarter of 2008 was Rs169.37 crore against Rs20.52 crore in the corresponding quarter of 2007.
Cairn India chief executive officer Rahul Dhir said that the cash flow from operations were down 20% at Rs95.2 crore on lower realization on crude oil that it had sold in the quarter.
PTI
ABG Shipyard’s Q3 profit dips 2.3% as costs escalate
Mumbai:ABG Shipyard Ltd reported third-quarter profit dropped 2.3% because of higher raw material and interest costs.
Net income in the three months ended 31 December fell to Rs46 crore from Rs47.12 crore a year earlier, the company said in a release to the Bombay Stock Exchange. Sales climbed 78% to Rs489 crore.
Interest payments surged sevenfold to Rs51.3 crore from a year earlier, while raw material costs more than doubled to Rs367 crore.
Bloomberg
Lupin’s Dec quarter net falls 35.58% to Rs116.50 cr
Mumbai:Pharmaceutical company Lupin Ltd on Thursday said its consolidated net profit for the third quarter ended 31 December, declined 35.58% to Rs116.50 crore.
The firm had a net profit of Rs180.86 crore in the year-ago period, Lupin said in a filing to the Bombay Stock Exchange. Total income rose to Rs983.68 crore for the quarter under review, against Rs856.25 crore in the same period last fiscal.
PTI
BPCL’s net profit rises to Rs799.84 crore in Q3
Mumbai: State-run oil company Bharat Petroleum Corp. Ltd said on Thursday its stand-alone net profit for the December quarter jumped at least twofold to Rs799.84 crore against Rs291.3 crore in the year-ago period. Total income rose to Rs32,184.63 crore for the quarter under review, against Rs29,258.48 crore in the same period last fiscal.
PTI
Indian Hotels Q3 net profit down 38% to Rs83.85 cr
Mumbai:The Tata group firm Indian Hotels Co. Ltd on Thursday said its net profit in third quarter ended 31 December plummeted 37.69% to Rs83.85 crore.
The company had a net profit of Rs134.58 crore in the year-ago period.
Total income also fell to Rs478.61 crore in the quarter under review, from Rs525 crore last fiscal.
PTI
Bajaj Hindusthan posts net loss of Rs56 crore
Mumbai: Bajaj Hindusthan Ltd, India’s largest sugar manufacturer, reported on Thursday a net loss of Rs55.94 crore for the first quarter ended 31 December due to a slump in profitability from the sugar and distillery businesses.
It had posted a net profit of Rs29.67 crore for the corresponding quarter last year.
Bajaj Hindusthan’s sugar business suffered a loss before tax of Rs25.41 crore, compared with a profit before tax of Rs6.22 crore in the same period the previous year, the company said in a filing to the Bombay Stock Exchange.
The firm’s financial results are for the sugar year that runs from October to September.
Its distillery business, too, remained out of sync with the previous year’s performance and posted a loss of Rs6.72 crore against a profit before tax of Rs20.31 crore, Bajaj Hindusthan said in the filing.
PTI
Aditya Birla Nuvo reports Q3 net loss at Rs156 cr
Mumbai: Diversified conglomerate Aditya Birla Nuvo Ltd reported on Thursday a consolidated net loss of Rs156.4 crore in the third quarter ended 31 December, against a net profit of Rs30.2 crore a year ago.
However, the company’s net sales rose 17% to Rs3,429 crore in the quarter under review from Rs2,931.1 crore in the year-ago period, Aditya Birla Nuvo said in a filing to the Bombay Stock Exchange.
On a standalone basis, the firm registered a net profit of Rs4.10 crore in the December quarter as against Rs84 crore in the same quarter last fiscal on account of lower demand from tyre customers.
The company’s standalone net sales in the quarter grew 9% to Rs1,172.5 crore from Rs1,075.4 crore.
PTI
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First Published: Thu, Jan 29 2009. 09 33 PM IST