| Indian Bank has reported 152.69 per cent growth in net profit to Rs 123.16 crore for the third quarter ending December 31, 2005, compared with Rs 48.74 crore for the same period last year. |
| The bank's operating profit for the reporting quarter registered a dip to Rs 196 crore compared to Rs 212 crore for the corresponding period last year. |
| The increase in salary cost of 24.7 per cent on account of implementation of wage revision and dwindling profits from the sale of investments were cited as the reasons for the fall in operating profits. |
| The net increase income improved by 10.9 per cent to Rs 1,069.36 crore as compared with Rs 963.7 crore for the same period the previous year. |
| Dewan Housing net up 60% |
| Housing finance major, Dewan Housing Finance posted 60.07 per cent rise in its net profit to Rs 9.33 crore for the quarter ended December 2005 as against Rs 5.82 crore reported in the corresponding quarter of the previous financial year. |
| Total income rose by 44.89 per cent to Rs 58.9 crore for the reporting quarter, compared with Rs 40.64 crore, reported a year ago. |
| Loan disbursements for the HFC spiralled by 119.8 per cent to Rs 366.56 crore (Rs 166.76 crore) while the operating income stood at Rs 57.09 crore (Rs 40.32 crore). Total expenditure stood at Rs 47.21 crore as against Rs 33.50 crore a year ago. |
| Kapil Wadhawan managing director, said, "We hope to close the year with approximately Rs 1,100 crore of incremental disbursement and a 56.94 per cent increase in our loan book size to Rs 2,400 crore." |
| The company plans to focus on the semi-urban and rural areas to largely cater to the lower and middle-income groups. |
| ICI India bottomline dips 34% |
| ICI India, manufacturer of paints and chemicals, reported 34.52 per cent decline in net profit at Rs 8.27 crore for the third quarter ended December 31, 2005, as compared with Rs 12.63 crore for the same quarter in 2004-05. |
| However, total income (net of excise) increased to Rs 260.39 crore from Rs 220.48 crore in the year-ago period, the company informed the Bombay Stock Exchange. |
| The operating profits increased to Rs 40.22 crore in the reviewed quarter as against Rs 26.31 crore in same period last fiscal. |
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