Magma Finance PAT declines to Rs 6.70 cr
Magma Fincorp recorded a profit after tax of Rs 6.70 crore in the quarter ended December 2008, as against Rs 17.12 crore in the corresponding previous quarter. However, due to change in accounting practice, figures are not comparable, said the company. Revenues at Rs 155.28 crore were higher by 26 per cent. Disbursals during the quarter were at Rs 883.49 crore, an increase of four per cent.
Texmaco net up 6.16%
K K Birla group company Texmaco recorded a net profit of Rs 15.5 crore in the quarter ended December 2008, an increase of 6.16 per cent over the same period last year. Turnover at Rs 240 crore was higher by 8.6 per cent. The railway order placed in October 2007 has become operational and this would reflect in improved working in 2009. The company is planning to step up its production due to large railway order book.