Indian Bank has reported a 23.45% growth in its net profit for the fiscal ended March 31, 2009. The bank had reported a 63.06% growth in its Q4 net profit. The overall business during the year under review grew 22.85%.

The net profit for the year rose to Rs 1,245.32 crore against Rs 1,008.74 crore while the Q4 net profit went up to Rs 394.07 crore from Rs 241.67 crore during the same quarter last fiscal. The total business touched Rs 124,413 crore as compared to Rs 101,274 crore, said M S Sundara Rajan, chairman and managing director, Indian Bank. The operating were higher at Rs 2,228.83 crore (Rs 1,659.30 crore), a growth of 34.32%, he added.

He said, the bank has ended the fiscal with a CAR of 13.27% under Basel I and 13.98% under Basel II. The net NPA was better at 0.18% of net credit. The total income during the year grew 26.49% to Rs 7,865.77 crore as against Rs 6,218.66 crore.

Bosch profit dives 69%

Auto components major Bosch Ltd witnessed a 69.3% plunge in profit after tax for the first quarter ended March 31, 2009, falling to Rs 49.38 crore from Rs 161.7 crore in the corresponding quarter of the previous fiscal. According to a filing in the BSE, profits from operations before other income, interest, and exceptional items fell 82% to Rs 33.5 crore from Rs 188.7 crore. Net sales and income from operations of the company also took a hit, falling 18% to Rs 991.6 crore from Rs 1205 crore. Revenue in the automotive products segment spiraled downwards to Rs 854.4 crore, falling 21% from Rs 1081 in the first quarter of the last fiscal.

Pennar Ind profit at Rs 39 cr

Pennar Industries Ltd has made a net profit of Rs 39.4 crore during the year ended March 31, 2009, as against Rs 30.80 crore in the previous year. Net sales of the company stood at Rs 653.52 crore against the previous figure of Rs 560.22 crore.

Interest and depreciation during the year were at Rs 13.82 crore and Rs 9.45 crore against Rs 17.95 crore and Rs 8.04 crore in the previous corresponding period respectively.

During the quarter ended March 31, 2009, net profit of the company was Rs 10.18 crore on a net sales of Rs 154.46 crore. According to Nrupender Rao, chairman and managing director of the company, the company was able to strengthen its position and managed to increase its profit margins because of its diversified product portfolio. The company has value-added products like engineering components, road safety systems, rail wagons and coach profiles.

Castrol India Q1 net up 5%

Castrol India Limited has posted a net profit increase of 5% at Rs 76 crore for the quarter ended March 31, 2009 as compared to Rs 73 crore in the corresponding quarter a year ago. Sales for the quarter under review were up by 3% to Rs 506 crore compared Rs 493 crore during the same period last year. Commenting on the first quarter results, Kshatriya, managing director at Castrol, said, ?Considering the acutely adverse economic environment in January-March 2009, with slowdown across industries, the company?s financial results are satisfying, especially in view of the fact that Q1 of FY08 as a reference base was a record first quarter. In spite of significantly reduced volumes, we maintained profits and improved cash flow.? Castrol India is acknowledged as the technology leader in the Indian lubricant industry. Meanwhile, shares of the company plummeted 0.88% to close at Rs 316.95 on the Bombay Stock Exchange on Monday.

Exide net profit up 9%

Battery manufacturer Exide Industries reported an 8.52% increase in net profit at Rs 68.20 crore for the fourth quarter ended March 31, 2009 compared to Rs 62.82 crore in the corresponding quarter of the last financial year. The total income rose marginally to Rs 801.13 crore during the March quarter as against Rs 796.36 crore in the same period a year ago.

Atlas Copco net dips 42%

Construction and mining equipment maker Atlas Copco India on Monday said its net profit dipped by 42.04% to Rs 14.46 crore for the quarter ended March 31, 2009, over the same quarter last year.

The company had a net profit of Rs 24.95 crore for the same quarter ended March 2008, Atlas Copco India said in a filing to the Bombay Stock Exchange.

Sundaram Clayton posts loss

Auto parts major Sundaram Clayton on Monday reported a net loss of Rs 4.82 crore for the fourth quarter ended March 31, 2009.

The company had a net profit of Rs 5.99 crore for the same quarter ended March 2008, Sundaram Clayton said in a filing to the BSE.

Total income of the company declined to Rs 119.85 crore for the quarter under review from Rs 126.64 crore in the same quarter last fiscal.