| State Bank of Mysore has reported a 6 per cent drop in net profit to Rs 130.39 crore for the three months to December 2004. Total income for the quarter was Rs 13,122.20 crore, up 102 per cent year on year. |
| Earnings per share declined 29 per cent year on year to Rs 95.49. The bank had made a Rs 127 crore provision towards depreciation on shifting government securities from the available for sale category to held to maturity, and Rs 34 crore towards wage arrears of its employees, a company release said. |
| The bank's net non-performing assets ratio has come down to 1.4 per cent at the end of December 2004 compared with 4.18 per cent at the end of December 2003. |
| TVS Elect net dips 37% |
| TVS Electronics' net profit for the quarter ended December of the financial year 2004-05 fell by 36.66 per cent to Rs 0.38 crore from the previous year's Rs 0.60 crore. Net sales for the quarter was Rs 68.44 crore, higher by 5.25 per cent compared with the year-ago period's Rs 67.78 crore. |
| Gopal Srinivasan, director, said the quarter's performance was affected by a drop in the prices of information technology hardware products ahead of a duty free regime in the sector beginning March. |
| The company's accounting year has been changed from January-December to April-March. Consequently, the accounts for the current financial year is to close end March for a period of 15 months from January 1, 2004. |
| Ultratech in the red |
| Ultratech Cement, an Aditya Birla group company has recorded a net loss of Rs 11 crore for the quarter ended December 31, 2004. |
| The company's net sales stood at Rs 687.7 crore, for the quarter under review. The company's financial performance is not comparable with previous year's performance since it was incorporated in the current financial year. |
| VisualSoft net declines 35% |
| VisualSoft Technologies Ltd's net profit for the third quarter ended December 31, 2004 has fallen 34.66 per cent to Rs 6.88 crore compared with Rs 10.53 crore in the corresponding previous quarter. |
| Total income increased 18.84 per cent to Rs 48.06 crore (Rs 40.44 crore). Total income for the nine months ended December 31, 2004 rose to Rs 141.42 crore (Rs 113.53 crore). Profit before tax in the third quarter stood at Rs 7.18 crore (Rs 10.98 crore). |
| A company press release, however, noted that on a sequential basis the company's net profit in the third quarter has increased by 5.57 per cent. |
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