Suzlon Energy, UCO Bank & UGSL Q2 results

CORPORATE SCORECARD

Suzlon Energy net up 218% at Rs 238.95 cr

Suzlon Energy reported 218 per cent jump in net profit at Rs 238.95 crore for the second quarter ended September 30, 2005, as compared with a net profit of Rs 75.12 crore in the same period last fiscal.

Total income has increased 135 per cent to Rs 1,099.28 crore from Rs 467.55 crore in the year-ago period.

UCO Bank H1 net dips 49% to Rs 143 cr

UCO Bank has posted 49.46 per cent decline in net profit to Rs 143 crore in the first half of 2005-06 as compared with corresponding the figure of Rs 283 crore last year. Total business recorded a growth of 24.52 per cent at Rs 80,960 crore as compared with previous corresponding period of Rs 65,013 crore.

Deposit stood at Rs 49,816 crore, 18.01 per cent higher than the previous corresponding figure of Rs 42,210 crore. Gross advance grew by 36.57 per cent to Rs 31,144 crore as against Rs 22,803 crore. NPA, as on September 2005, was Rs 1,399 crore with net NPA at 2.62 per cent.

Net interest income registered 9.36 per cent growth to Rs 770 crore against Rs 704 crore, whereas profit from sale of investment declined significantly by 58.47 per cent to Rs 49 croreas compared with Rs 118 crore last year.

Uttam Galva Steels Q2 net down to Rs 9.89 cr

Uttam Galva Steels (UGSL) has posted lower net profit of Rs 9.89 crore for the second quarter ended September 30, 2005, as compared with Rs 17.31 crore in the corresponding quarter previous fiscal. Sales decreased to Rs 367.85 crore as compared with Rs 503.01 crore in Q2 of FY05. Exports stood at Rs 217.11 crore as against Rs 302.40 crore.

"The drop in turnover and profits during the quarter was due to shutdown of the plant for more than 3 weeks because of the heavy floods in Maharashtra in July 2005," Ankit Miglani, director, said.

The company is, however, adequately covered with insurance for loss of production and has initiated appropriate measures for securing the claim, he added.