DCB, GV Films, Kansai quaterly results

CORPORATE SCORECARD

Private sector lender Development Credit Bank (DCB) made a turnaround after a gap of two years by clocking a net profit of Rs 7.37 crore in FY07 against a net loss of Rs 85.26 crore in FY06. Its operating profit stood at Rs 40.25 crore against an operating loss of Rs 19.66 crore for the same period."DCB has turned around. By industry standards, it has been a spectacular progress and remarkable in the speed of execution," Managing Director and CEO Gautam Vir said in a statement here today.

The bank's deposits and advances grew by 41 per cent and 42 per cent at Rs 4,415.20 crore and Rs 2,658.52 crore, respectively, while its interest income increased 25 per cent at Rs 346.93 crore in FY07 against Rs 277.14 crore in FY06. Its net interest income (NII) climbed 59 per cent to Rs 119.55 crore against Rs 75.19 crore. Retail advances expanded 50 per cent to cross the Rs 1,000 crore mark at Rs 1,016 crore. The bank's CASA deposits grew 29 per cent at Rs 1,252 crore. On the non performing asset (NPA) front, the bank has performed well with its net NPA percentage along with standard asset provision falling to 0.86 per cent in FY07 against 4.13 per cent the previous year, while net NPA percentage without standard assets provision reduced to 1.64 per cent from 4.50 per cent last year.

GV Films profit rises to Rs 5 cr

Chennai-based GV Films posted a net profit growth of 159.60 per cent at Rs 5.14 crore in the fourth quarter ended March 31, 2007, compared with Rs 1.98 crore in the corresponding period last year. Income from operations rose 389.47 per cent to Rs 18.60 crore compared with Rs 3.80 crore in the period under review. For the full year ended March 31, 2007, GV Films net profit reached Rs 17.60 crore compared with Rs 5.16 crore in the previous year, clocking a growth of 241.09 per cent.

The company's income from operations for FY07 was Rs 42.74 crore compared with Rs 18.60 crore a year ago, recording a growth of 129.78 per cent.

Kansai net up 11% to Rs 23 cr

Kansai Nerolac Paints reported a net profit of Rs 23.30 crore for the quarter ended 31 March, 2007, 11.05 per cent higher compared with Rs 20.98 in the year-ago period. Net sales for the quarter were Rs 285.21 crore, 20.25 per cent higher compared with Rs 237.17 crore last year. Net profit for the whole financial year was Rs 107.66 crore, 22.31 per cent lower compared with Rs 138.59 crore in the previous financial year. The previous year's profit included an extraordinary gain on sale of shares of Rs 50.39 crore. Excluding this, the profit after tax increased by 7.7 per cent for the year. Net sales for the year were higher by 21.07 per cent at Rs 1,222.38 crore compared with Rs 1009.58 crore in FY06. During the quarter, the Bombay High Court approved the amalgamation of Polycoat Powders with the company, effective April 1, 2006.