ING Vysya profit grows by 27 pc
ING Vysya Bank, on Saturday, reported that it has posted a 27 per cent increase in net profit at Rs 71.30 crore for the half year ended September 2007 compared to Rs 56.18 crore for the corresponding period last fiscal, reports DHNS from Bangalore.

The Gross NPA ratio of the bank improved to 2.06 per cent as on September 30 2007 from 3.90 per cent on September 30 2006. The net NPA ratio improved to 0.77 per cent from 1.57 per cent. As on September 30 2007, the net worth of the bank stood at Rs 1,065.22 crores and Capital Adequacy Ratio stood at 10.51 per cent. To augment the capital funds, the bank proposes to raise Tier I capital through private placement of equity shares to Qualified Institutional Buyers (QIB) and through Preferential allotment to the ING Group.

TNPL posts 43% growth in profit 
State-run Tamil Nadu Newsprint & Papers, on Saturday, posted a 43 per cent rise in net profit to Rs 33.24 crore for the quarter ended September 30, compared to Rs 23.23 crore a year ago.

Total income of the company increased marginally to Rs 245.51 crore during the quarter as against Rs 241.26 crore last year, the company said. The board of directors has declared a 20 per cent interim dividend for the financial year 2007-08.

Corporation Bank net up 27%
Corporation bank, on Saturady, announced that it has posted a 27 per cent jump in net profit at Rs 161.38 crore for the second quarter ended September 30, 2007 compared to Rs 127.01 crore for the corresponding period last fiscal, reports DHNS from Mangalore.

The bank’s total income for the reported quarter marked a growth rate of 34 per cent and stood at Rs 1246.93 crore against Rs 930.64 for the same period in the previous fiscal. The net interest income for the reported quarter also increased by 17.5 per cent at Rs 354.56 crore against Rs 301.78 crore in the same quarter last year.

Chairman & Managing Director B Sambamurthy said that the bank recorded consistent performance in major parameters during the quarter.

BEML net falls 33.49 per cent
Bharat Earth Movers Ltd, on Saturday, posted a 33.49 per cent fall in net profit at Rs 24.32 crore for the quarter ended September 30, 2007 as compared to Rs 36.57 crore for the corresponding period last year.

Total income of the company decreased 21.25 per cent to Rs 487.28 crore for the second quarter as against Rs 618.78 crore for the same period last fiscal, the company said.