Dena Bank, Indo Rama, Zensar Q3 results

CORPORATE SCORECARD

Dena Bank posted a 15.21 per cent drop in its net profit for the third quarter ended December 2006 at Rs 70.53 crore as against Rs 83.18 crore in the same quarter last year following higher provision for taxes. Its total income for the reporting quarter rose by 15.14 per cent to Rs 693.46 crore from Rs 602.27 a year ago.

The net interest income showed a small growth (3.05 per cent) at Rs 209.79 crore. The provision and contingencies increased by 21.29 per cent to Rs 145.34 crore from Rs 119.83 crore a year ago. The deposits grew by 18.18 per cent to Rs 25,529 crore from Rs 21,600 crore in the December 2006 quarter.

The cost of deposits was up at 4.82 per cent from 4.57 per cent for the nine months ended December 2006. The gross advances rose by 27.87 per cent to Rs 17,206 crore. The yield on advances improved to 8.48 per cent from 7.90 per cent a year ago.

Indo Rama profit down 34%

Polyester manufacturer Indo Rama Synthetics' net profit declined 34.34 per cent to Rs 3.04 crore for the quarter ended December 2006, from Rs 4.63 crore in the previous corresponding quarter.

The company's net sales grew 34.76 per cent to Rs 536.9 crore during the quarter against Rs 398.4 crore last year. The profit fell as the company was not able to pass on the full impact of the raw material cost increases to its customers during the quarter.

In a release, the company attributed the fall in profit to the rise during the quarter in interest cost "� from Rs 5 crore to Rs 12.67 crore "� and depreciation change "� from Rs 25 crore to Rs 28 crore.

Indo Rama's operating profit grew 20.75 per cent y-o-y to Rs 45.57 crore during the quarter, from Rs 37.74 crore. Its EPS (earnings per share) for the quarter stood at Rs 0.23 compared with Rs 0.35.

The company is in the process of doubling its polyester capacity by putting up an additional capacity of 3 lakh tonne a year at its plant at Butibori in Maharashtra. I

Zensar net grows 7%

Zensar Technologies, a global software and BPO services provider, posted a net profit of Rs 7.99 crore, a 7 per cent increase over the last year's corresponding quarter figure of Rs 7.47 crore.

Its revenues increased 11.73 per cent to touch Rs 67.08 crore for the quarter ended December 2006. The company added 18 customers to its portfolio.

The key wins have been in the enterprise application services businesses, especially SAP implementation, Oracle Apps and Business Intelligence and Datawarehousing (BIDW).