Canara Bank, Triveni & Harrisons Malayalam Q4 results

CORPORATE SCORECARD

Canara Bank net flat at 2.34%

Canara Bank reported a marginal rise of 2.34 per cent in its net profit to Rs 505.09 crore for the fourth quarter ended March 31, 2007 compared with the corresponding quarter of last year.

Return on assets declined to 0.98 per cent during the fiscal compared to 1.13 per cent, indicating a fall in margins. Operating profit for the quarter went up by 39.76 per cent to Rs 1,052.12 crore compared to the corresponding quarter.

The large difference between net and operating margins is the result of additional provision for taxes of Rs 90 crore and more provisioning other than for NPAs. The bank posted a rise of 38 per cent in its total income to Rs 3,836.71 crore during the fourth quarter.

Triveni net down to Rs 5.4 crore

Triveni Engineering and Industries today reported a six-fold dip in net profit for the quarter ended March 31 at Rs 5.4 crore against Rs 39.13 crore in the corresponding quarter of the previous year.

The company's net sales in the quarter under review grew by seven per cent at Rs 364.48 crore compared with Rs 341.92 crore in the same quarter last year, the company said in a statement.

For the 12-month period ended March 31, the company reported a 31 per cent dip in its net profit at Rs 90.4 crore against Rs 131.5 crore last year.

Harrisons Malayalam profit dips

RPG group company, Harrisons Malayalam, has registered a net profit of Rs 14.11 crore for the year ended March 31, 2007, down by 79.84 per cent.

However, the previous year's net profit included exceptional items. The company's profit before exceptional items of was at Rs 15.06 crore, which was higher by 283 per cent for the year ended March 31, 2007.

The company has attributed profits for the year to higher volumes and steady prices of tea and rubber. Sales at Rs 209 crore for 2006-07 was higher by 38 per cent over the previous year.

Kanoria Chem net at Rs 19.5 cr

Chemical intermediates manufacturer Kanoria Chemicals & Industries has reported a net profit of Rs 19.5 crore in 2006-07 and declared a 30 per cent dividend. Net sales grew 41 per cent to Rs 430.1 crore compared with Rs 305.1 crore in the year ago period.

The board has declared a dividend of 30 per cent given the sound cash generation by the company, Kanoria said in a release.

"Robust growth in our operating profits demonstrates the successful implementation of the first phase of our expansion plans," Kanoria Chemicals Chairman and Managing Director R V Kanoria said.