Chola DBS Finance & DCM Shriram Q4 Results

CORPORATE SCORECARD

Chola DBS Finance net declines 38%

Cholamandalam DBS Finance Ltd has reported 37.9 per cent drop in net profits to Rs 5.13 crore for the quarter ended March 2006 as compared with Rs 8.27 crore for the same quarter the previous year.

Income from operations improved by 4 per cent to Rs 54.78 crore for the quarter from Rs 52.60 crore last year. During the quarter, the Singapore-headquartered DBS Bank completed the acquisition of 37.48 per cent of the equity share capital of the company.

For the full year ended March 2006, the company registered dip of 3.3 per cent in net profits to Rs 35.21 crore compared with Rs 34.07 crore the previous year.

DCM Shriram net dips 34%

DCM Shriram's consolidated net profit for the fourth quarter ended March 2006 was lower by 34.02 per cent at Rs 26.02 crore compared with Rs 39.44 crore recorded in the same period last year. The reduction in quarterly net profit is attributed to exceptional items and non-recurring tax credit.

However, net revenues for the quarter of rose 11.7 per cent to Rs 515.41 crore, compared with Rs 461.35 crore in the year-ago period. Profit before tax rose 13.04 per cent to Rs 38.57 crore.

The group's net profit for the full year ended march 2006 rose 10 per cent to Rs 115.19 crore, compared with last year's Rs 104.43 crore.