Dena Bank Q3 net profit UP at Rs 35 cr
State-run Dena Bank has reported a profit of Rs 35.3 crore for the third quarter ended December on lower provisioning for bad loans. The bank had a loss of Rs 662.8 crore in the same quarter last year. Total income also rose to Rs 2,999.5 crore during the quarter, from Rs 2,722.2 crore in the previous fiscal. However, gross NPAs as a percentage to total advances rose significantly to 14.79%, from 9.85% in the same quarter a year before. Net NPAs went up to 9.52%, from 6.68% at the end of December 2015. Total provisions, excluding income tax, declined to Rs 484.4 crore as against Rs 966.97 crore in the year-ago period.
PowerGrid Q3 net profit up at Rs 1,930 cr
State-run Power Grid Corp has posted a 20% jump in standalone net profit at Rs 1,930.02 crore for the third quarter ended December 31, 2016, on the back of higher income. "The company has posted a net profit of Rs 1,930.02 crore for the quarter ended December 31, 2016 as compared to Rs 1,606.25 crore for the quarter ended December 31, 2015," Power Grid Corp said in a BSE filing. According to statement, its total income has increased from Rs 5,476.37 crore in the year-ago quarter to Rs 6,787.51 crore in the quarter ended December 31, 2016. In a separate filing, the company said its board, at a meeting has, declared an interim dividend of 10% of share capital i.e. Re 1 per share of Rs 10 each which shall be paid/dispatched on March 2, 2017.
Bank of Baroda Q3 net profit UP at Rs 253 cr
State-run Bank of Baroda has reported a net profit of Rs 253 crore in the quarter ended December led by lower cost of deposits and higher treasury income. The bank had reported a net loss of Rs 3,342 crore in the same period last year. "The growth in profit was due to the fall in cost of deposit to 5.8% from 6% a year ago, treasury gains and various cost control measures taken by the bank," bank's managing director and CEO P S Jayakumar told reporters here. The bank' treasury non-interest income stood at the level of Rs 1,094 crore in quarter ended December 31,2016. Its total expenses declined by 4.36% to Rs 9,586 crore in the quarter.
Idea Cellular Q3 net loss at Rs 384 cr
Telecom operator Idea Cellular has logged a consolidated net loss of Rs 383.87 crore for the December 2016 quarter compared to a net profit of Rs 659.35 crore in the year-ago period, hurt by newcomer Reliance Jio's free voice and data promotions. Total income also has decreased to Rs 8,706.36 crore for the quarter, from Rs 9,032.43 crore in the same period in the previous year, as per a BSE filing. "The Indian mobile industry witnessed an unprecedented disruption in the quarter of October to December 2016, primarily due to free voice and mobile data promotions by the new entrant in the sector," Idea Cellular said in a statement.
Compuage Infocom Q3 net rises 15.97%
Compuage Infocom, one of the India’s leading IT distribution company has announced its Q3 & Nine Month result for the FY16-17. On a consolidated year-to-year basis, the profit increased by 15.97% from Rs. 12.21 cr to Rs. 14.16 cr. The sales for the quarter ended December 31st, 2016 increased by 21.39% from Rs. 726.53 cr to Rs. 881.97cr. The company recorded net sales of Rs. 2509.54 crore for the Nine Month ended 31st December, 2016, while Net Sales increased around 19.16% for the Nine Month period ended 31st December, 2016 from Rs. 2105.86 crore for the period ended 31st December, 2015. EBITDA stood at Rs. 55.06 crore for the nine month ended 31st December 2016 against Rs. 46.57 crore in the period ended 31st December 2015 which is increased of 18.23%.
Balaji Amines PAT up by 78.46%
Balaji Amines Ltd, World’s largest producer of DMA-HCL and India’s largest manufacturer of Aliphatic Amines announced its Q3 result for the FY16-17. On a year-to-year basis, the profit increased by 78.46% from Rs. 37.94 cr. to Rs. 67.70 cr. The Sales for the nine months ended December 31st 2016 increased by 4.93% from Rs. 509.06 cr to Rs. 534.16 cr. The company recorded Profit Before Tax ( PBT) of Rs. 30.21 crore for the Quarter ended 31st December 2016 against Rs. 21.65 crore in the period ended 31st December 2015 which is increased of 39.53%. “Our Performance is improving continuously on regular basis, Improvement in our PBT and PAT Margins is a clear result of our Sustainable growth strategy and cost cutting from our team & wide customer base and diverse geographical markets. We are sure that in the coming quarters our results will be better than expected” said D Ram Reddy, Joint MD, Balaji Amines.