Bizbits

The total income from sale of power of the three companies, Tata Power, Andhra Valley Power Supply and Tata Hydro-Electric, has decreased during the half yearly period under review from Rs 1228.22 crore to Rs 1208.36 crore. However, the company has registered a marginal increase in net profit to Rs 183.77 crore from Rs 177.94 crore in the previous year. Total expenditure of the three power companies has reduced from Rs 922.78 crore to Rs 870.81 crore leading to an improved gross profit profit after interest at Rs 353. 96 crore as against Rs 345.95 crore, last year.

IDBI reports increase in profit

MUMBAI: Industrial Development Bank of India IDBI has reported increased net profit of Rs 705 crore in the first half of 1998-99, against Rs 689 crore in the same period lastyear.

IDBI8217;S net profit for the second quarter ended September 30, 1998 was, however, down to Rs 343 crore compared to Rs 364 crore in the corresponding quarter of previous year. Income from operations was up to Rs 3,623 crore in April-September 1998 against Rs 3,301 crore in the same period last year.

IDBI8217;s gross profit was also down to Rs 889 crore in the first half compared to Rs 940 crore in the same period of previous year.