State-run Power Finance Corporation reported a net profit at Rs 338.98 crore for the third quarter ended December 31, 2008, a growth of 5.77% over the corresponding period last year.

The company had a net profit of Rs 320.49 crore in the third quarter of FY08, PFC said in a filing to the BSE.

Total income of the company rose 32.33% to Rs 1,720.05 crore during the quarter under review, from Rs 1,299.79 crore in the corresponding period a year ago.

For the nine months ended December 31, 2008, PFC reported a 5.84% growth in its net profit at Rs 964.60 crore. The total income rose 29.38% to Rs 4,740.43 crore during the period.

Shares of PFC closed at Rs 132.05, up 0.19% on the BSE.

GTL net declines 18%

Telecom equipment manufacturer GTL Ltd reported a 18.11% decline in its consolidated net profit at Rs 32.14 crore for the third quarter ended December 31, 2008.

The company had a net profit of Rs 39.25 crore in the third quarter of FY08, GTL Ltd said in a filing to the Bombay Stock Exchange.

The total income of the company rose nearly 4% to Rs 467.81 crore during the quarter under review, from Rs 450.31 crore in the year-ago period.

On a standalone basis, GTL reported a 31% fall in its net profit at Rs 22.28 crore. However, the standalone total income stood at Rs 341.83 crore, against Rs 362.23 crore in the corresponding period a year ago.

Further, the board has approved a buyback of shares to the tune of Rs 225 crore. The maximum buyback price has been fixed at Rs 260 per share.

Under the share buyback programme, the company will buy back equity shares up to 25% of the net worth of the company as on March 31, 2008, and up to 25% of the paid-up equity capital subject to requisite approval.

Bajaj Finserv net at Rs 12 cr

Bajaj Finserv Ltd?s consolidated numbers have turned positive with a net profit of Rs 12 crore during Q3 of 2008-09, compared to a loss of Rs 51 crore in the same quarter last year. PBT was at Rs 21 crore this quarter compared to a loss of Rs 44 crore during the year ago period.

Bajaj Finserv holds 74% in Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance and 40.53% in Bajaj Auto Finance Ltd.

Bajaj Allianz Life?s new business premium showed a negative growth of 7% as compared to a negative growth of 20% during the year-ago period. Premium was down at Rs 2,670 crore in Q3 of 2008-09, compared to Rs 3,101 crore during the same period last year.

Bajaj Allianz?s general insurance gross written premium in Q3 grew 5% to Rs 581 crore, while PAT was at Rs 17 crore, down 41%.

Net premium in life insurance was at Rs 2,414 crore, while in general insurance, it was Rs 437 crore. The life insurance business posted losses of Rs 22 crore during the quarter, down 81.19%. Profits from general insurance was at Rs 24 crore.

Bajaj Finserv?s standalone profits were down 8.3% to Rs 11 crore while income from operations and other income was up 3.4% to Rs 30 crore for Q3 of 2008-09.

Bajaj Auto Fin net rises 39%

Bajaj Auto Finance Limited (BAFL) saw a 19% growth in income at Rs 158 crore and a 39% growth in PAT to Rs 11.28 crore for the third quarter of 2008-09. Profit before tax was up 57% at Rs 16.28 crore. However, deployments for the quarter was down to Rs 612 crore as against Rs 835 crore during the same quarter of the previous year.

To attract more two-wheeler loans, the company has started offering a free extended warranty on all Bajaj two wheelers that it finances. This benefit will not be available to other customers of Bajaj bikes.

Infotech Ent net dips 32%

IT services provider Infotech Enterprises said its consolidated net profit for the third quarter ended December 31, 2008 declined 32.16% at Rs 14.47 crore over the corresponding period a year ago.

The firm had a consolidated net profit of Rs 21.33 crore in the third quarter last financial year, Infotech Enterprises said in a filing to the Bombay Stock Exchange.

Consolidated sales of the company rose to Rs 232.75 crore for the quarter under review from Rs 176.85 crore during the same quarter a year ago. For the nine months ended December 31, Infotech registered a consolidated net profit of Rs 73.94 crore, a growth of 24.14% against Rs 59.56 crore for the same period a year ago.

Rallis India PAT at Rs 16 cr

Rallis India, a Tata enterprise, recorded a net profit of Rs 16 crore for the third quarter of 2008-09, up 11% over the year ago period. Net sales grew by 15% to Rs 208 crore (Rs 180 crore in the previous year). PBT before exceptional items stood at Rs 26 crore during the third quarter, registering a growth of 52% from last year?s figure of Rs 17 crore during the same period.

Net sales of the company during the first nine months grew by 23% to Rs 659 crore. The company?s board has appointed V Shankar, the current executive director and CEO, as the managing director with effect from January 15, 2009.

Sonata Soft net rises 27%

IT consulting and software services company Sonata Software announced that its net profit rose by 26.84% at Rs 19.89 crore, for the quarter ended December 31, 2008. The company had a net profit of Rs 15.68 crore for the same quarter last year, Sonata Software informed the BSE.

Total operating income of the company rose to Rs 389.34 crore, against Rs 360.34 crore for the same quarter year ago.

HOEC net profit at Rs 10 cr

Hindustan Oil Exploration Company announced a net profit at Rs 10.06 crore for the quarter ended December 31, 2008. In a filing to the Bombay Stock Exchange, Hindustan Oil Exploration Company informed that it had a net loss of Rs 4.47 crore for the same quarter in FY08.

Net sales of the company stood at Rs 11.74 crore for the quarter under review, against Rs 3.34 crore for the same period a year ago.