PNB’s Q3 net up 26% at Rs 541 cr

Public sector lender Punjab National Bank on Thursday reported a 26 per cent rise in net profit at Rs 541.46 crore for the third quarter ended December 31, 2007 as compared to Rs 429.87 crore in the same period previous fiscal. The total income of the bank stood at Rs 4,120 crore for the quarter under review as against Rs 3,271.36 crore during the corresponding quarter last year, up by 26 per cent, the bank’s release said.

Tata Steel shows huge sales jump

Tata Steel on Thursday announced consolidated financial results for the six months ended on 30th September 2007 after adding the figures of its UK-based company Corus.  Profit before exceptional items and taxes for the six months ended 30th September 2007 was Rs 5,483 crore against Rs 3,227 crore for the same period of the last financial year. Company’s total income for six months ended 30th September 2007, amounted to Rs 63,872 cr against Rs 12,020 cr in the same period previous year. The increase comprise mainly of Rs.49,809 cr of Corus income and increases of Rs 866 cr in Indian operations, Rs 1,237 cr in Nat Steel (Singapore and Rs 512 cr in Tata Steel, Thailand. Exceptional items: results for the six months ending 30 September 2007 include gain from exceptional items of Rs 6,354 crore mainly comprised of actuarial gain on funds for employee benefits of Rs 5,971 crores. The PAT amounted to Rs 9,703 crore for the six months, compared to Rs 2,158 cr for the corresponding period of the previous year.

Reliance Capital Q3 net up 86 pc

Reliance Capital on Thursday reported a 86.36 per cent jump in net profit at Rs 135.24 crore for the third quarter ended December 31, 2007 as compared to Rs 72.57 crore in the corresponding quarter of the previous fiscal. During the period under review, the company posted a total income of Rs 375.46 crore as compared with Rs 121.24 crore in the same period last fiscal, registering a growth of 209.68 per cent, reports DHNS from Mumbai.

GMR Infra sees Q3 net up 20 pc

GMR Infrastructure on Thursday posted a 20 per cent increase in its net profit at Rs 64.07 crore for Q3 ended December 2007, compared to Rs 53.26 crore for the same period last year. The net income of the firm stood increased at Rs 563.20 crore for the quarter under review as against Rs 367.56 crore for the same period last year, up 53.23 per cent. 

ING Vysya Life’s  expansion plans

ING Vysya Life, with a current network of 308 branches across 246 cities is looking at aggressive expansion in north and central India as part of its growth strategy, T K Uthappa, Director Sales-Tied Agency, ING Vysya Life Insurance told on Thursday.  ING Vysya Life also launched its new unit-linked product, ‘ING Guaranteed Growth Plan.’ The plan offers 5 per cent guaranteed return on premium invested with a potential of investing in equity markets. Customers can choose either 10-15 years term. 

Cipla’s net profit up by 14.7 pc

Cipla on Thursday posted a 14.7 per cent rise in its net profit after tax at Rs 211 crore for the quarter ended December 31, 2007 as compared to Rs 184 crore for corresponding quarter last year. Total income of the company increased from Rs 913.33 crore for the quarter ended December, 2006 to Rs 1129 crore for the quarter ended December 2007, up by 24 pc.