Bizbits

However, interest rates in the interbank call money market remained high. Call rates opened at 40 to 45 per cent level, eased to 35 per cent, hovered between 35 to 50 per cent for some part of the day and immediately firmed up to settle higher at 50 to 60 per cent at the close. Few deals were even quoted at a high of 65 to 70 per cent, a dealer said.

ICICI profit up 71 in 9 months

MUMBAI: Industrial Credit amp; Investment Corporation of India ICICI recorded a 71 per cent rise in its net profit at Rs 831 crore in the first three quarters April-December of 1997-98. The net profit includes capital gains after tax of Rs 98 crore, through sale of ICICI Bank shares and some real estate. Excluding this income, the net stood at Rs 733 crore, posting a growth of 51 per cent.

Its non-performing assets the net of provisioning and write-offs stood at 7.6 per cent in December 1997, a shade better than 7.7 per cent as on September 30. ICICI recorded a 46 per cent rise in disbursals from Rs 7,471 crore to Rs 10,929 crore. With the inclusion of guarantee assistance, the dibursal growth rate works out to 48 per cent. Institutional approvals stood at Rs 18,223 crore, a 112 per cent growth. The fully diluted EPS rose by 40 per cent from 13.7 to 19.2 during the period.

Delta, Air France join fare war

MUMBAI: Two more international airlines, Delta and Air France have offered discounted fares to UK, Europe or the US. An Air France spokesperson said the airline has offered a 32 per cent discount on its economy fares ex-India, if tickets are bought by February 14. The offer is valid for travel between February 1 and March 31.

A Delta spokesperson said that they have a flat rate of discount to most of the US destinations an economy ticket to New York would now be about Rs 29,000.