Private sector lender Kotak Mahindra Bank on Tuesday reported a 33.5% year-on-year increase in net profit for the quarter ended September 30, 2011, to R260 crore. The banks operating profit came in at R380 crore, up by 16 % year-on-year and the net interest income was R605 crore, up 18% from a year ago. Total income rose 45% year-on-year to R1,677 crore. The bank's net non-performing assets (NPAs) decreased from 0.66 % to 0.56% sequentially. Low cost Casa deposits made up 26% of total deposits for the lender, and were up by 100 basis points sequentially. The bank's capital adequacy ratio (CAR) stood at 17.80% while deposits were up 29% to R36,390 crore.
NTPC Q2 net profit up 15% at R2,424 crore
Countrys largest power producer NTPC on Tuesday reported 15% rise in net profit at R2,424 crore for the quarter ended September 30. The company had reported a net profit of R2,107 crore in the same quarter of the last financial year, NTPC informed the BSE. Total income for the second quarter of 2011-12 went up to R16,387 crore from R13,612 crore during the corresponding period of the previous year, it said. For the first half of the financial year 2011-12, NTPCs total income was R31,555 crore and profit after tax (PAT) at R4,500 crore. Its total income was at R27,128 crore and PAT at R3,949 crore for the corresponding period last year.
EIL Sept quarter net rises 22% to R146.64 crore
Engineers India on Tuesday reported a 22% rise in net profit to R146.64 crore for the quarter ended September 30. The company, which provides design and engineering consultancy to oil and gas business, had posted a net profit of R119.94 crore in the July-September quarter of previous year, EIL said. Turnover soared 39% to R827.42 crore. EIL CMD AK Purwaha attributed the performance to improved efficiency and effective cost management and hoped to continue the same in the coming quarters.
Alstom Projects Q2 net down 22.84%
Alstom Projects India has posted a net profit of R28.58 crore for the quarter ended Sept 30, 2011, compared to R37.04 crore for the quarter ended Sept 30, 2010, registering a decrease of 22.84%. Total income has increased from R3,22.11 crore for the quarter ended September 30, 2010 to R6,10.77 crore for the quarter ended September 30, 2011, representing an increase of 89.62%.
KEC International Q2 net slides 50.36%
KEC International has posted consolidated net profit of R21.21 crore for the quarter ended Sept 30, 2011 compared to R42.73 crore for the quarter ended Sept 30, 2010, registering a decrease of 50.36%. Consolidated total income has increased from R1,000 crore for the quarter ended September 30, 2010 to R1,263 crore for the quarter ended September 30, 2011, representing an increase of 26.30%.
EID Parry Q2 net zooms to R49.48 crore
EID Parry (India), part of the Murugappa group and one of the leading sugar manufacturer, has reported a sharp jump in its net profit to R49.48 crore for the quarter ended September 30 compared to R9.94 crore during the same quarter last financial year. The net sales and income from operations grew sharply to R415 crore compared to R286 crore during the same quarter of previous financial year.