Shasun, Patel Engg & BoR Q3 results

CORPORATE SCORECARD

Shasun net profit up 43% at Rs 12.9 cr

Shasun Chemicals and Drugs has reported 43 per cent growth in its net profit at Rs 12.90 crore (Rs 9.01 crore in the corresponding period of the previous fiscal) for the quarter ended December 31, 2005.

Net sales were higher by 31 per cent to Rs 102.39 crore from Rs 78.11 crore. For nine months ended December 31, 2005, net profit grew by 25 per cent to Rs 23.35 crore (Rs 18.63 crore in the year-ago period). Net sales posted a growth of 15 per cent at Rs 266.98 crore (Rs 231.53 crore).

Patel Engg net up 124%

Patel Engineering has reported 123.5 per cent rise in net profit at Rs 25.32 crore (Rs 11.32 crore in the corresponding quarter previous year) for the third quarter ended December 2005. Total income grew by 16.4 per cent to Rs 237.32 crore (Rs 203.87 crore).

The board of directors of the company, at its meeting held today, has declared a second interim dividend of 50 per cent (Re 0.50 paise per share).

Meanwhile, the company posted a 95.42 per cent rise in net profit at Rs 49.66 crore (Rs 25.41 crore) for the nine-month period ended December 2005. Earnings per share stood at Rs 9.93 (Rs 5.08).

BoR net profit up 37% at Rs 9.6 crore

Bank of Rajasthan has reported 36.69 per cent rise in net profit at Rs 9.61 crore (Rs 5.51 crore during the year-ago quarter) during the third quarter of this financial year.

Bank chairman P K Tayal said the profit for the period could have been higher by Rs 30.70 crore but for the excess expenditure incurred on account of wages to employees. The bank also said its board has approved issuance of one rights issue to the shareholders against five shares held by them at a price of Rs 50.

The bank's board approved the rights issue for the premium of Rs 40 for each share, but at a discount of over Rs 3 against the ruling price of the share on BSE.

Each rights share will be attached with 5 warrants, entitling the warrant holders to subscribe for the share at a discount of 15 per cent of the average market price of last one month subject to a minimum of Rs 50 per share.

Total income of the bank grew 9.59 per cent at Rs 150.95 crore. Interest income of Rs 130.14 crore during the quarter was higher by 5.51 per cent than Rs 123.34 crore during the year-ago quarter.