State Bank of Travancore (SBT) has logged Rs 415.81 crore net profit (for the nine months ended December 2008), marking a 75.51% increase over the corresponding period in the previous year. During December 2007, net profit was Rs 236.91 crore.
The increase in net profit, deposits and advances were taken on record at a meeting of the board of directors of the Kerala-based bank on Monday, a release announced. There was a 215% increase in net profit at Rs 260.86 crore during the third quarter of this year against Rs 82.82 crore during the corresponding quarter last year.
Total income of the bank went up 22.30% year-on-year (y-o-y) to reach Rs 3,439 crore. While interest income showed a y-o-y 20.96% growth to reach Rs 3,050.63 crore, non-interest income grew 34.12% on a y-o-y basis to reach Rs 389 crore from last year’s level of Rs 290 crore. Net interest income grew 34.93% to touch Rs 954 crore and the net interest margin rose by 44 bps to reach 2.84. The capital adequacy went up to 14.38% from 13.53% in March ’08.
SBM Q3 PAT at Rs 182 cr
State Bank of Mysore (SBM) has announced a 157% year-on-year growth in profit after tax for the third quarter ended December 31, 2008, surging from Rs 70 crore in the same quarter of the last fiscal, to Rs 182 crore this year.
The bank’s total income went up 44% y-o-y from Rs 728 crore in Q3 2007 to Rs 1,050 crore in Q3 2008. It also registered a 44% growth in interest earned, up from Rs 608 crore for the corresponding quarter last fiscal to Rs 877 crore. Operating profit showed a 71% rise from Rs 138 crore to Rs 237 crore this year. Its capital adequacy ratio stood at 13.35%, while net NPA to net advances ratio stood at 0.62% as compared to 0.36% last fiscal.
Rolta India net up at Rs 60 cr
Rolta India reported a consolidated net profit of Rs 60.56 crore for the second quarter ended December 31, 2008, against Rs 60.22 crore in the same quarter of FY’08.
The total consolidated income rose by 32.17% at Rs 371.45 crore for the quarter under review from Rs 251.94 crore a year ago, Rolta India said in a filing to the Bombay Stock Exchange. Meanwhile, the company said it will buy-back foreign currency convertible bonds (FCCB) issued by it and in this regard, it has appointed BNP Paribas Capital as its advisor.
On a standalone basis, Rolta India registered a 11.68% rise in its net profit at Rs 60.07 crore in the December quarter, compared to a net profit of Rs 68.02 crore in the corresponding year-ago period.
Total income rose to Rs 234.90 crore in the quarter ended December 31, 2008 from Rs 222.22 crore in the same period last year.
All Bank profit at Rs 369 cr
Kolkata-based Allahabad Bank posted a marginal increase in its profit for the third quarter of the current fiscal, owing to provisioning for income tax, wage revision and investment depreciation.
The bank’s net profit for the quarter ended December 31, 2008, grew by 1% at Rs 369.46 crore, as against Rs 365.05 crore during the corresponding period of 2007-08.
While the operating profit went up to Rs 666 crore from Rs 521 crore in the corresponding period last fiscal, net profit registered a slight increase. “Income tax liabilities for the third quarter and the nine-month period were Rs 193 crore and Rs 210 crore respectively,” said KR Kamath, the bank’s chairman and managing director.
Allahabad Bank registered a net profit of Rs 504 crore for the nine-month period ended December 31, 2008, compared to Rs 805 crore for the same period last fiscal. Total income of the bank increased to Rs 2,306 crore for the quarter under review from Rs 1,956 crore in the year-ago period.
Gujarat NRE net slips 74%
Metallurgical coking coal manufacturer Gujarat NRE Coke said its net profit has declined 73.58% at Rs 13.2 crore, for the third quarter ended December 31, 2008. The company had a net profit of Rs 49.97 crore for the same quarter in FY’08, Gujarat NRE Coke said in a filing to the Bombay Stock Exchange. However, the company’s total income rose to Rs 439.3 crore for the quarter under review, against Rs 252.5 crore for the same period a year ago. For the nine months ended December 31, the company posted a net profit of Rs 210.41 crore, up 97.86% from Rs 106.34 crore for the same period last fiscal.
Nucleus Software profit dips
Nucleus Software Exports said its net profit has dipped 32.03% to Rs 10.55 crore the December quarter. The company had a net profit of Rs 15.52 crore for the same quarter in FY’08, the company informed the BSE. However, income from software products and services rose to Rs 84.23 crore for the quarter under review, against Rs 73.63 crore for the same period a year ago.
BASF India total income dips
Expandable polystyrene maker BASF India announced its net profit at Rs 41 lakh, for the quarter ended December 31, 2008. The company had a net profit of Rs 11 crore for the same quarter last financial year, BASF India informed Bombay Stock Exchange.
Total income of the company dipped to Rs 206.39 crore for the quarter under review, against Rs 225.11 crore for the same period last fiscal. For the nine months ended December 31, 2008, the company had a net profit of Rs 63.16 crore, against Rs 54.96 crore for the same period a year ago.
Zen Tech Q3 net ratchets 91%
Simulator developer Zen Technologies surged 10% after the company said its net profit for the December quarter grew 90.72% at Rs 4.73 crore.
The company had a net profit of Rs 2.48 crore in the same quarter last financial year, Zen Technologies said in a filing to the BSE.
PI Industries income rises
PI Industries said its net profit for the third quarter ended December 31, 2008, stood at Rs 4.85 crore, while the company had a net loss of Rs 3 crore over the corresponding period a year ago.
Total income rose to Rs 107.78 crore in the quarter under review from Rs 84.19 crore in the same quarter last fiscal, PI Industries said in a filing to the Bombay Stock Exchange.
Sterlite Tech net down 2%
Global provider of optical fibers Sterlite Technologies reported 1.74% decline in its net profit at Rs 36.54 crore for the third quarter ended December 31, 2008. The company had a net profit of Rs 37.19 crore in the December quarter of FY’08, Sterlite Technologies said in a filing to the BSE.
Total income rose to Rs 841.94 crore for the quarter under review from Rs 502.03 crore in the corresponding year-ago period.
Apollo Tyres net dips 89%
On the back of high raw material prices and huge cutbacks in vehicle production, Apollo Tyres registered a dip of 89.1% in consolidated net profit for the third quarter ended December 31, 2008 at Rs 8.9 crore as against Rs 82 crore during the corresponding quarter in the last financial year. The company’s consolidated revenue during the quarter also went down by 12.7% at Rs1,100 crore vis-?-vis 1,240 crore during the third quarter of 2007-08.
MindTree revenue up
IT and R&D services company MindTree Ltd announced a 93.4% year-on-year growth in software revenue at Rs 363 crore for the quarter ended December 31, 2008. EBITDA for the quarter was 30.5% as against 16.8% in the corresponding quarter of the last fiscal, reflecting a 251.6% y-o-y growth, said a statement issued by the company. The company, which registered a 50.6% y-o-y growth in its IT services business, also showed a growth of 34.6% y-o-y in its R&D services.
Electrosteel profit up 168%
Kolkata-based water infrastructure company Electrosteel Castings Ltd (ECL) said it registered a net profit of Rs 37.32 crore for the third quarter ended December, up 168% over the corresponding period last year.
A company statement said net sales during the period stood at Rs 421.84 crore, up 30% year-on-year.
The company said that the board has decided to issue 1.4 crore convertible warrants on preferential basis to promoters and promoter groups with an option to convert each warrant for one equity share of Re 1 at a price not less than Rs 23.
MRO TEK Q3 net dips
Bangalore-based MRO TEK Ltd reported a net profit of Rs 126.77 lakh during the third quarter ended December 31, 2008, registering a dip of about 66% from Rs 371.72 lakh for the corresponding quarter of the last fiscal. The total income for the quarter was at Rs 3,180.24 lakh as compared to Rs 3,729.20 lakh for the same quarter of the previous year. Total expenditure rose to Rs 3,334.64 lakh compared to Rs 3,142.02 lakh in the year-ago period.
KPIT Cummins revenue rises
KPIT Cummins recorded total revenues of $42.36 million (Rs 184.52 crore) for the quarter ended December 31, 2008, a 14.15% growth over the same quarter during the last fiscal. The company registered a net profit of Rs 16.86 crore for Q3 FY09, a y-o-y growth of 19.36%. A press statement issued by the company said that it added three new customers during the quarter; the total number of customers now is 126.
