Canara Bank net jumps fivefold on core growth

Riding on growth in core business activities,public sector lender Canara Bank today posted nearly fivefold jump in its net profit at Rs 555.33 crore for the first quarter ended June 30,2009.

Riding on growth in core business activities,public sector lender Canara Bank today posted nearly fivefold jump in its net profit at Rs 555.33 crore for the first quarter ended June 30,2009. The bank had net profit of Rs 122.68 crore in the corresponding quarter last fiscal. Chairman and MD A C Mahajan said, Interest income had gone up and interest income expenditure contained. Infrastructure has given us good earnings. Priority sector has also done equally well, he added.

BHEL profit rises 22 per cent to Rs 470 crore

New Delhi: State-run Bharat Heavy Electricals Ltd BHEL today reported a jump of over 22 per cent in its net profit at Rs 470.59 crore for the first quarter ended June 30,compared to the same period a year ago. The power utility firm had a net profit of Rs 384.41 crore during the June quarter a year earlier,BHEL said in a statement to the BSE. Total income of the public sector major rose to Rs 5,898.51 crore in the latest quarter of the current fiscal against Rs 4,620.98 crore in the same period last year.

Tech Mahindra Q1 net halves,debt at Rs 2,380 cr

Mumbai: IT firm Tech Mahindra today reported 49.08 per cent plunge in net profit at Rs 131.62 crore for the quarter ended June 30,2009 owing to the interest costs on borrowings the company incurred after acquiring Satyam. The firm,which recently acquired a controlling stake in Mahindra Satyam,had a net profit of Rs 258.52 crore in the June quarter of last fiscal,it said in a filing to the BSE.

Piramal Healthcare net up 25 pc at Rs 85 crore

Mumbai: Drug maker Piramal Healthcare today reported a rise of 25 per cent in its consolidated net profit at Rs 85.10 crore in the first quarter ended June 30,compared to the same period a year ago. The company had a consolidated net profit of Rs 68.09 crore during the first quarter of last financial year. On a standalone basis,Piramal posted a net profit of Rs 74.11 crore during the quarter ended June 30,posting a growth of over 45 per cent compared with Rs 50.94 crore in the same quarter a year ago.

Hindustan Zinc net dips 15 pc to Rs 719 crore

Mumbai: Vedanta Resources Group firm Hindustan Zinc today reported 15.21 per cent decline in its net profit at Rs 718.82 crore for the first quarter ended June 30,2009,over the same period previous fiscal. The company had a net profit of Rs 847.81 crore in the same period last year,metal producer said in a filing to the Bombay Stock Exchange. Total income declined to Rs 1,706.78 crore in the latest quarter,against Rs 1,853 crore in the same quarter previous fiscal.

Spice Communication posts a net loss of Rs 35 crore

Mumbai: Telecom service provider Spice Communications on Wednesday said its net loss stood at Rs 34.91 crore for the quarter ended June 30,2009. The company had a net loss of Rs 136.45 crore in the same period last year,Spice Communications said in a filing to the Bombay Stock Exchange. Total revenue rose to Rs 330.40 crore in the latest quarter from Rs 314.32 crore in the same period last fiscal.