Syndicate Bank posts 21% rise in net profit

Syndicate Bank posts 21% rise in net profit
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First Published: Tue, Jan 29 2008. 11 51 PM IST
Updated: Tue, Jan 29 2008. 11 51 PM IST
Bangalore: Bangalore-based Syndicate Bank reported a rise of 21% in its third quarter profit on higher interest income.
The bank posted a net profit of Rs273.20 crore, compared with Rs226.11 crore in the year-ago period. Its interest income rose 21.5% to Rs1,987 crore, while total income went up to Rs2,266 crore, compared with Rs1,776 crore a year ago. As of 31 December, the bank’s net interest income fell to Rs1,510 crore from Rs1,546 crore a year ago, while net interest margin fell 2.62% from 2.69%. Its capital adequacy ratio (CAR) stood at 11.99%. The bank’s stock closed at Rs102.85, down 2.93%, or Rs3.10, on Tuesday on the Bombay Stock Exchange.
Jagran Prakashan net profit up 46%
New Delhi: Publishers of Hindi daily ‘Dainik Jagran’, Jagran Prakashan Ltd (JPL), said on Tuesday net operating revenue in the quarter ended 31 December rose to Rs199.03 crore, up 28.77% from the corresponding year-ago quarter. Net profit rose 46.47% year-on-year to Rs25.93 crore.
The publisher said in a statement advertising and circulation revenue grew 29.03% and 11.33%, respectively. According to the Indian Readership Survey released in October, Dainik Jagran was India’s largest read daily. The publisher launched three new editions of its daily “bilingual compact” I-Next in this quarter. JPL’s chairman and managing director Mahendra Mohan Gupta said he was most pleased with the popularity of I-Next. Staff Writer
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First Published: Tue, Jan 29 2008. 11 51 PM IST