Briefly Business

Hinduja Group flagship company Ashok Leyland on Sunday reported 455 per cent jump in net profit for the quarter ended December at Rs 104.63 crore on the back of robust sales growth....

Ashok Leyland Q3 net jumps 455 pc

New Delhi: Hinduja Group flagship company Ashok Leyland on Sunday reported 455 per cent jump in net profit for the quarter ended December at Rs 104.63 crore on the back of robust sales growth. The automobile manufacturer had registered a net profit of Rs 18.86 crore in the same quarter a year ago. Sales revenue was up 81 per cent at Rs 1,815.53 crore against Rs 1,004.49 crore in the corresponding period the previous fiscal.

Good sales power Suzlon Energy to profit

Mumbai: Good sales,a cut in working capital costs and 370 million from a stake sale in Germanys Hansen,helped wind turbine maker Suzlon Energy post a

Rs 14.1 crore net profit in the third quarter,a senior company official said. Suzlon Energy had posted a loss of Rs 64.87 crore in the year-ago period. Our sales numbers went up. We were also aided by the 370 million we got from our stake-sale in Hansen Transmissions and savings of Rs 1,000 crore in working capital costs, said Suzlon Energys COO Sumant Sinha.

Gammon India Q3 PAT at Rs 20.87 crore

New Delhi: Construction company Gammon India on Sunday reported a profit after tax PAT of Rs 20.87 crore for the third quarter ended December 2009,whereas the same was at Rs 510 crore a year earlier. Figures of the current period are not comparable with the results of corresponding period a year earlier due to merger of Associated Tranrail Structures Ltd ATSL with the company,Gammon India said in a filing to the Bombay Stock Exchange.

Parsvnath Developers Q3 profit up fourfold

New Delhi: Realty firm Parsvnath Developers has reported a robust jump of over fourfold in consolidated net profit at Rs 24.90 crore for third quarter ended December. The city-based real estate developer had a consolidated net profit of Rs 5.42 crore during October-December quarter a year earlier,it said in a filing to the BSE. Consolidated total revenue of the firm rose to Rs 305.28 crore during the third quarter of current financial year from Rs 92.77 crore of the corresponding period last fiscal.

Mitra takes over as Revenue Secretary

New Delhi: After implementing the UPA governments disinvestment plans for the past six months,Sunil Mitra on Sunday took over as the Revenue Secretary,less than a month before the Budget presentation in Parliament. Mitra today assumed charge of the Revenue Secretary, an official in the Revenue Department of the Finance Ministry said.

SBI concerned about excess liquidity

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Behrampur: State Bank of India chairman O P Bhatt on Sunday said that excess liquidity available with the bank would be a matter of concern for the next two quarters. Going forward excess liquidity will be a matter of concern for the next two quarters and this would put pressure on the margins. However,that pressure is declining, Bhatt said at a press conference. Excess liquidity is a problem because if banks receive more in deposits than they are giving out as credit,their earnings come under pressure.