UTI bank Q3 net up 30.21%

UTI Bank Ltd today posted a 30.21 per cent increase in net profit at Rs 131.71 crore for the quarter ended December 31, 2005 as compared to Rs 101.15 crore for the quarter ended December 31, 2004. Total income grew 45.08 per cent to Rs 920.12 crore for the third quarter this fiscal as against Rs 634.21 crore in the third quarter of 2005, the bank informed the Bombay Stock Exchange.

The board at its meeting held today also approved the issuance of unsecured redeemable non-convertible debentures on private placement basis amounting to Rs 1,000 crore. The debentures would be issued in one or more tranches to institutional investors for a period of upto 72 months or 96 months or 120 months.

Car sales show 8.8 per cent growth in Dec 05

NEW DELHI: Led by Maruti Udyog and Tata Motors, domestic passenger car sales managed to beat the year-end blues in December 2005 registering 8.8 per cent growth as compared to the same month a year ago. According to figures released by society of Indian automobile manufacturers (SIAM), the two wheeler segment however remained flat with 1.7 per cent growth while the commercial vehicles segment registered a negative growth of 6 per cent.

— ENS & PTI