K’taka Bank’s net up 41 pc
Karnataka Bank’s net profit for the quarter ended June 2007 was 41 per cent higher at Rs 51.79 crore compared to Rs 36.78 crore in the corresponding period of last year. The total business turnover of the bank stands at Rs 23,866 crore. On y-o-y basis the deposits grew by 11.27 per cent  to reach Rs 14,448 crore from Rs 12,984 cr and advances grew by 20.72 per cent to touch Rs 9,419 crore from Rs 7,802 crore. Compared to the Q1 of the previous year, the gross income of the bank rose from Rs 330.64 cr to Rs 403.67 cr.

Tata Power Q1 up at Rs 190 cr
Tata Power on Thursday in Mumbai announced a 56.09 per cent rise in the net profit for the quarter ended June 30, 2007 at Rs 190.20 crore for the quarter ended June 30, 2007 as compared to Rs 121.85 crore for the quarter ended June 30, 2006. 

The company’s press release said its total income has increased from Rs 1409.37 crore for the quarter ended June 30, 2006 to Rs 1579.94 crore for the quarter ended June 30, 2007. Further, the company pointed out it had a foreign exchange gain of Rs 37.87 crore arising out of exchange differences on borrowed funds and liabilities in foreign currencies due to a strong rupee.

MRF’s net profit at Rs 42.50 crore
MRF Ltd’s net profit for the quarter ended June 30 stood at Rs 42.50 crore compared to Rs 8.17 crore during the corresponding period last year. Net sales rose to Rs 1,133.43 crore from Rs 994.77 crore in the first quarter last year. Operating profit rose from Rs 65.09 crore to Rs 117.66 crore, the company reported on Friday in Chennai.

Strides Arcolab PAT up 110 pc
Strides Arcolab announced on Friday in Mumbai that in quarter ended 30 Jun 2007 the company reported 110 per cent rise in the consolidated Net Profit at Rs 11.58 crore compared to Rs 5.49 crore in the corresponding quarter last year. The consolidated net sales grew 7.2 per cent to Rs180 crore compared to Rs.168 crore in the corresponding quarter last year.

Carlyle invests in Great Offshore
US-based private equity firm Carlyle on Friday in Mumbai said it has invested $ 41 million in Great Offshore, a service provider for players in the oil and gas sector. Great Offshore provides services for oil and gas players to support their exploration and production activities. Carlyle Asia Growth Fund invests in “high-growth companies” in India, China, Japan and South Korea. It has a fleet of 40 vessels, including drilling rigs, platform supply vessels, multi-support vessels, anchor handling tugs and harbour tugs. It works with ONGC, Reliance, Cairn, British Gas, Shell, British Petroleum, Exxon Mobil and Saudi Aramco in India and Gulf.

Mitsubishi, VST  form another JV
Mitsubishi Heavy Industries, Tokyo, Japan and VST Tillers Tractors, have jointly announced on Friday in Bangalore another joint venture in India. The JV, MHI-VST Diesel Engines  will have its plant located in Mysore, to manufacture  small size diesel engines (up to 50 HP). The first phase is estimated to cost Rs 41.50 cr, with plant capacity of 30,000 units. The JV, the company said, is to create a gateway into India’s rapidly growing small size diesel engine market.

NIIT Tech Q1 net up 61 pc
NIIT on Friday in New Delhi said its net profit for the first quarter ended June 30, 2007 increased by 61 pc to Rs 35.1 crore as compared to Rs 21.8 crore in the corresponding quarter last year. Its consolidated total income for the first quarter ended June 30, 2007 increased by 20 pc to Rs 229 cr as compared to Rs 191 cr in the coressponding quarter last year.

Tata Elxsi’s PAT  up 46 per cent
Bangalore-based Tata Elxsi Limited announced on Friday that it has registered a profit after tax of Rs 12.10 crore
for the quarter ended June 30, 2007, an increase of 18 per cent over the same quarter last year. Total income for the quarter ended June 30, 2007, rose by 46 per cent to Rs 92.72 crore on a y-o-y basis.