Bizbits

Interest cost dropped to Rs 2.35 crore from Rs 5.25 crore. Other income moved up to Rs 28.53 crore (Rs 23.03 crore). Total expenditure increased to Rs 1199.37 crore.

Oriental Bank net profit up 12.32 pc

MUMBAI: Oriental Bank of Commerce (OBC) has reported a 12.32 per cent rise in net profit to Rs 74.10 crore during April-June 1999 from Rs 64.97 crore in the corresponding period last year. Interest earned during the first quarter of 1999-2000 increased to Rs 567.44 crore from Rs 431.72 crore in the same quarter of 1998-99. OBC chairman Dalbir Singh said the working results for the 1999-2000first quarter have been derived after considering all provisions. The net NPAs is the lowest in the banking industry at 4.5 per cent.

MRF Q1 profit slides to Rs 22.03 cr

CHENNAI: Tyre major MRF Ltd has suffered a substantial decline of 26 per cent in net profit at Rs 22.03 crore in the first quarter of current fiscal as compared to Rs 29.70 crore recorded in the corresponding quarter in the previous year. The turnover, however, grew by 3.5 per cent to Rs 577.41 crore from Rs 557.87 crore in the corresponding quarter of last year. The company’s expenditure has gone up by 5.15 per cent to Rs 495.14 crore from Rs 470.89 crore.

WWICS improves immigration business

MUMBAI: Worldwide Immigration Consultancy Services Ltd (WWICS), specialising in Canadian Immigration & Settlement has helped over 2000 professionals to immigrate and settle down in Canada. There are 3,000 cases of immigration in process. The company provides a comprehensive package, which differs from other small operators workingin this field as it not only helps in immigration but also helps in getting a job to make sure that the immigrant gets job in Canada through its subsidiary, Global Placement Services.