HDFC Bank has registered a 45.23% rise in its net profit at Rs 429.36 crore for the quarter ended December 31, 2007 as against Rs 295.64 crore profit earned during the corresponding period of the last year. The total income during the quarter was Rs 3,405.79 crore, net interest income Rs 1,437.60 crore and the net interest margin remained at 4.3%. As on December 31, 2007, the net non-performing assets ratio of the bank was 0.4% and the capital adequacy ratio was 13.8%. With savings account deposits of Rs 24,961 crore and current account deposits of Rs 25,602 crore, HDFC Bank?s CASA mix remained at around 50.9% of the total deposits as on December 31, 2007.
HDFC Bank executive director Paresh Sukthankar said, ?Although, our total advances grew by around 48% for the quarter, the retail loan portfolio witnessed 45% growth at Rs 37,800 crore due to lesser credit offtake in commercial vehicles and two-wheeler automobile loan segments. The corporate advances rose by 49% at Rs 33,500 crore.?
?Before June 2008, we plan to open the international business branches of HDFC Bank in the cities of Hong Kong and Bahrain,? he added.
Finolex net dips 6%
Finolex Industries posted a marginal decline of 5.72% in net profit at Rs 21.57 crore for the quarter ended December 31, 2007 as compared to Rs 22.88 crore for the quarter ended December 31, 2006. Total income has increased 32.26% to Rs 484.53 crore for quarter ended December 31, 2007.
BFL sales up
Bharat Forge Ltd has posted a 7.6% drop a net profit after tax to Rs 58.17 crore for the quarter ended December 31, 2007 from Rs 62.97 crore for the quarter ended December 31, 2006. Profit before tax during Q3 was down at Rs 87.19 crore from Rs 93.30 crore in the same quarter previous year. Total income during Q3 has increased by 16% to Rs 572.29 crore from Rs 493.31 crore for the quarter ended December 31, 2006.
Jindal net dips 55%
Jindal Stainless reported 55.24% decline in net profit at Rs 50.60 crore for the quarter ended December 31, 2007 compared to Rs 113.05 crore in the year-ago period. Total income fell 5.86% to Rs 1,366.30 crore for the third quarter in the current fiscal from Rs 1,451.38 crore in the corresponding quarter in the previous fiscal.
Binani net zooms 209%
Binani Cement Ltd announced that the company has posted a growth of 209% in its net profit to Rs 53.95 crore for the quarter ended December 31, 2007 against Rs 17.45 crore in the corresponding quarter last year. During the quarter, the company sold 88,295 mt of clinker and 6,67,873 mt of cement.
Guj NRE net up 3-fold
Metallurgical coke manufacturer Gujarat NRE Coke posted over three-fold jump in net profit at Rs 49.97 crore for the quarter ended December 31, 2007, compared to Rs 13.77 crore in the same quarter in 2006. The company’s net sales from operations rose by 39.02% to Rs 242.80 crore for the December quarter from Rs 174.64 crore in the corresponding period a year ago.
Glenmark net up 48%
Glenmark Pharmaceuticals’ consolidated profits for the third quarter of FY08 increased to Rs 280 crore from Rs 188.98 crore for the previous year, an increase of 48.17%. It recorded consolidated revenues of Rs 685 crore in Q3 FY08, against Rs 446.12 crore.
Edelweiss net at Rs 92 cr
Broking firm Edelweiss Capital posted nearly three-fold jump in consolidated net profit at Rs 92.43 crore for the quarter ended December 31, 2007, compared to Rs 30.92 crore for the same quarter in 2006.
NLL Q3 net up 34%
Neyveli Lignite Ltd (NLL) reported 33.94% increase in net profit at Rs 204.48 crore for the quarter ended December 31, 2007 as compared to Rs 152.66 crore during the same quarter in 2006. Total income of the company rose by 26.94 per cent to Rs 816.09 crore for the third quarter ended December 31, 2007 from Rs 642.82 crore in the corresponding quarter a year ago.
NIIT net grows 30%
NIIT Ltd registered a 30% rise in its net profit year-on-year for the quarter ended December 31, 2007 at Rs 13.9 crore, against Rs 10.7 crore in the corresponding quarter last year. The net revenues for the company during the quarter grew 6% at Rs 238.8 crore.
Shasun topline up 32%
Shasun Chemicals and Drugs Ltd posted a 32% growth in consolidated revenue at Rs 255.46 crore for the third quarter of FY08 as compared to Rs 194.06 crore in the same period of the last fiscal and a consolidated Profit after tax of Rs 11.88 crore for the third quarter of FY08 as compared to Rs 11.65 crores in the year-ago quarter of FY07.
Titan Q3 net up 11%
Titan Industries Ltd posted 11% growth in its net profit for the third quarter ended December 2007 to record Rs 30.84 crore, while its sales registered an increase of 50% to Rs 813.45 crore as against the previous corresponding period. Both its watch and jewellery business showed growth but the precision engineering and international business divisions felt the impact of the rising rupee against the US dollar, the company said.
Everest Kanto net up
Everest Kanto Cylinder Ltd, manufacturer of high pressure cylinders, reported an increase of 44% in net profit at Rs 29.42 crore for the third quarter ended December 31, 2007 as compared to Rs 20.38 crore in the corresponding quarter of the last year. Net sales during the quarter grew by 12% to Rs 125.54 crore as compared to the corresponding quarter ended December 2006.
For the nine months ended December 2007, the company reported 76 per cent rise in net profit at Rs 80.06 crore compared to Rs 45.45 crore in the corresponding period last year. Net sales rose 25 per cent at Rs 364.59 crore compared to Rs 291.44 crore in the year-ago corresponding period.