Bizbits

Indo Gulf profit up 3.5

MUMBAI: Indo Gulf Corporation has posted a mere 3.49 jump in profit after tax for the third quarter of the current fiscal at Rs 46.5 crore as compared with Rs 44.93 crore in the same period last year. For the nine months, PAT has gone up marginally to Rs 13.73 crore from Rs 13.38 crore last year.

The company8217;s turnover more than doubled to Rs 379.49 crore from Rs 175.22 crore during the period with additional revenues being generated by the copper division which was commissioned during the first quarter.

Dena Bank net profit up 2.74

MUMBAI: Dena Bank has recorded a 2.74 growth in net profit during the nine-month period ended December 31, 1998. Net profit, which stood at Rs 87.94 crore during the corresponding period lastyear, has risen to Rs 90.35 crore.

The bank8217;s total income increased from Rs 1,019 crore as on December 31, 1997 to Rs 1,191 crore, reflecting a growth of 16.8. The growth in advances has helped the bank increase its interest income by 20.6 to Rs 1,089 crore from Rs 903 crore in the year-ago period. Dena Bank managed to increase its net advances during the nine-month period ended December 31, 1998, by 25.6 to Rs 6,237.03 crore Rs 4,966.28 crore. The bank8217;s other income, excluding profit on sale of investments, has increased by 8.3 per cent to Rs 91 crore Rs 84 crore.