Apollo Tyres, Shree Cement & Vijaya Bank Q4 results

CORPORATE SCORECARD

Apollo Tyres net up 30.07% at Rs 26.38 cr

Apollo Tyres posted 30.07 per cent increase in net profit of Rs 26.38 crore for the fourth quarter ended March 31, 2006 as compared with Rs 20.28 crore for the quarter ended March 31, 2005.

The company's total income (net of excise) for the quarter ended March 31, 2006 grew 17.13 per cent to Rs 746.17 crore from Rs 637.01 crore for the corresponding period in 2004-05. The board has recommended dividend of Rs 4.50 on shares of Rs 10 each amounting to Rs 17.25 crore.

For the year ended March 31, 2006 the net profit stood at Rs 78.17 crore as compared with Rs 67.63 crore for the year ended March 31, 2005. For 2005-06 the total income (net of excise) was Rs 2626.70 crore from Rs 2245.30 crore in 2004-05.

The group's consolidated net profit after minority interest stood at Rs 88.94 crore for 2005-06 as against Rs 61.7 8 crore for the year ended March 31, 2005. Total income of the group was Rs 2632.05 crore for 2005-06 as against Rs 2251.35 crore in 2004-05.

Shree Cement net up 191% at Rs 60.71 cr

Shree Cement has witnessed 191 per cent jump in net profit for the quarter ended March 31, 2006 at Rs 60.71 crore from Rs 20.84 crore in the quarter ended March 31, 2005.

The turnover of the outfit rose by 38 per cent from Rs 163 crore in the quarter ended March 31, 2005 to Rs 225.5 crore in corresponding period of 2006.

However, the net profit for the whole year declined to Rs 18.41 crore from Rs 29.07 crore in 2004-05. The turnover in 2005-06 rose by 29% to Rs 667.69 crore from Rs 582 crore in 2004-05.

Vijaya Bank Q4 net loss at Rs 34 crore

Vijaya Bank has posted net loss at Rs 34.53 crore during the fourh quarter of the fiscal 2005-06, as against net profit of Rs 155.92 crore during the corresponding period last fiscal.

The total income of the bank for the quarter was at Rs 689.1 crore, 8.87 per cent higher than Rs 632.9 crore posted during the same period in the previous fiscal. Net NPA stood at Rs 142.32 crore with net NPA ratio of 0.85 per cent.

In the previous fiscal, the net NPA ratio was 0.59 per cent. The bank held floating provisions of Rs 178.83 crore required for NPAs as per the RBI norms. CAR for the quarter was at 11.94 per cent.

The net profit of the year fell by 66.66 per cent to Rs 126.88 crore as against Rs 380.67 crore during the fiscal 2004-05.

"Depreciation in the value of investments at Rs 257.36 crore owing to hardening of yield levels for securities, amortisation cost in respect of premium paid in permanent category investments at Rs 85.71 crore, provision of NPAs at Rs 126.75 crore, additional provisioning of Rs 26.51 crore towards standard assets and provision of deferred taxes at Rs 32.23 crore, have pulled down the net profit," the bank said.

Total business of the bank at Rs 44,771 crore as on 31 March 2006 saw growth of 11.09 per cent as against Rs 40,301 crore during the corresponding period in the previous fiscal. Total deposits increased 8.16 per cent from Rs 25617.98 crore to Rs 27709.29 crore.

Interest income from advances recorded a growth of 16.80 per cent during the year to Rs 1149 crore as against Rs 1342.41 crore during the previous fiscal.

The bank has announced a dividend of 10 per cent for the financial year. Total cash recovery during the year was Rs 205.56 crore, including cash recovery of Rs 128.19 crore towards non-performing assets (NPA).

While the gross non-performing assets was Rs 540.15 crore, the gross NPA ratio increased to 3.17 per cent from 2.94 per cent as on 31st March, 2005.