BoI net profit doubles in 3rd quarter (Business Standard 23th Jan 2008)
The improvement in interest margins, sale of equity, recoveries and commissions helped Bank of India (BoI)to post a 101 per cent growth in is net profit for the third quarter ended December 2007 at Rs 512 crore as against Rs 255 crore in same period last year.
Total income in the quarter grew to Rs 3,705.2 crore from Rs 2,641 crore a year ago. Net interest income rose by 26 per cent from Rs 859 crore to Rs 1,079 crore during the period. Net interest margins moved up from 2.97 per cent to 3.14 per cent. More
Vijaya Bank net jumps to Rs 127 cr (Business Standard 23th Jan 2008)
Bangalore-based public sector Vijaya Bank today reported a 36.82 per cent rise in net profit to Rs 126.88 crore during the third quarter ended December 31, 2007, on a y-o-y basis.
The additional profit of Rs 34.1 crore was partially enabled by a writeback of Rs 22.5 crore on account of provisions and contingencies.
Treasury operations yielded an additional Rs 41 crore, compared to the same period last year. The net impact of operations, operating profits, rose marginally by 4 per cent to Rs 158 crore. Total income for the period went up by 45.14 per cent to Rs 1,139.19 crore mainly due to higher other income. More
I-flex profit slides on a strong rupee (Live mint.com 23th Jan 2008)Officials from Indian banking software maker i-flex Solutions said on Tuesday that the firm’s quarterly profit fell 3.6% because of a stronger rupee and other expenses, but the information technology company saw no slowdown on account of the global financial turmoil.
The firm, majority owned by US business software firm Oracle Corp., sees strong business momentum as new international banking standards boost investments on technology, i-flex’s chief financial officer Makarand Padalkar said.
“We need to be cautiously optimistic,” Padalkar told Reuters. “Clearly, the situation is not something that people have kind of figured out. They are still saying that people are finalizing their budgets. We have not seen any clear impact of people cancelling projects or anything like that sort...so far we have not seen any impact, but at the same time, I wouldn’t say that we have seen the full picture unravelling.” More
Grasim profit rises 34% on fibre prices (Live mint.com 23th Jan 2008) India’s third biggest cement maker that also produces viscose-staple fibre Grasim Industries Ltd posted a bigger than-expected 34% gain in its fiscal third quarter profit, helped by higher yarn prices.Net income rose to Rs554 crore ($140 million) in the three months ended 31 December from Rs412 crore a year earlier, the company said in a statement on Tuesday. Seven analysts surveyed by Bloomberg had a median profit estimate of Rs513 crore. Sales rose 15% to Rs2,630 crore. Rising international prices of viscose-staple fibre helped Grasim to counter high fuel and freight costs at its cement division. More
The improvement in interest margins, sale of equity, recoveries and commissions helped Bank of India (BoI)to post a 101 per cent growth in is net profit for the third quarter ended December 2007 at Rs 512 crore as against Rs 255 crore in same period last year.
Total income in the quarter grew to Rs 3,705.2 crore from Rs 2,641 crore a year ago. Net interest income rose by 26 per cent from Rs 859 crore to Rs 1,079 crore during the period. Net interest margins moved up from 2.97 per cent to 3.14 per cent. More
Vijaya Bank net jumps to Rs 127 cr (Business Standard 23th Jan 2008)
Bangalore-based public sector Vijaya Bank today reported a 36.82 per cent rise in net profit to Rs 126.88 crore during the third quarter ended December 31, 2007, on a y-o-y basis.
The additional profit of Rs 34.1 crore was partially enabled by a writeback of Rs 22.5 crore on account of provisions and contingencies.
Treasury operations yielded an additional Rs 41 crore, compared to the same period last year. The net impact of operations, operating profits, rose marginally by 4 per cent to Rs 158 crore. Total income for the period went up by 45.14 per cent to Rs 1,139.19 crore mainly due to higher other income. More
I-flex profit slides on a strong rupee (Live mint.com 23th Jan 2008)Officials from Indian banking software maker i-flex Solutions said on Tuesday that the firm’s quarterly profit fell 3.6% because of a stronger rupee and other expenses, but the information technology company saw no slowdown on account of the global financial turmoil.
The firm, majority owned by US business software firm Oracle Corp., sees strong business momentum as new international banking standards boost investments on technology, i-flex’s chief financial officer Makarand Padalkar said.
“We need to be cautiously optimistic,” Padalkar told Reuters. “Clearly, the situation is not something that people have kind of figured out. They are still saying that people are finalizing their budgets. We have not seen any clear impact of people cancelling projects or anything like that sort...so far we have not seen any impact, but at the same time, I wouldn’t say that we have seen the full picture unravelling.” More
Grasim profit rises 34% on fibre prices (Live mint.com 23th Jan 2008) India’s third biggest cement maker that also produces viscose-staple fibre Grasim Industries Ltd posted a bigger than-expected 34% gain in its fiscal third quarter profit, helped by higher yarn prices.Net income rose to Rs554 crore ($140 million) in the three months ended 31 December from Rs412 crore a year earlier, the company said in a statement on Tuesday. Seven analysts surveyed by Bloomberg had a median profit estimate of Rs513 crore. Sales rose 15% to Rs2,630 crore. Rising international prices of viscose-staple fibre helped Grasim to counter high fuel and freight costs at its cement division. More
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