Corporate results

Tech Mah Q3 net at Rs 257 cr.

Tech Mah Q3 net at Rs 257 cr

MUMBAI: IT firm Tech Mahindra has reported a growth of 48.81 per cent in its consolidated net profit at Rs 257 crore for the third quarter ended December 31,2010,over the same period last year. The company had a net profit of Rs 172.7 crore in the October-December quarter last year,Tech Mahindra said in a filing to the BSE. We have turned in a satisfactory performance in a period of low discretionary spend by our customers. We have remained steadfast in our pursuit of goals,while maintaining focus on operating and financial metrics, Tech Mahindra MD,CEO and VC VC Vineet Nayyar said.

PNBs Q3 profit at Rs 1,090 cr

new delhi: Countrys second largest nationalised bank,Punjab National Bank reported a 7.8 per cent growth in net profit to Rs 1,090 crore for the third quarter ended December 31,2010 as compared to a profit of Rs 1,011 crore in Q3 FY 2010. The bank8217;s total income rose by 27.9 per cent to Rs 7,976 crore during October-December,2010 from

Rs 6,236 crore in the comparable period of last year. Bank8217;s net profit for nine months of the current fiscal,grew to Rs 3,233 crore,from Rs 2,770 crore last year,registering a Year-on-Year growth of 16.7 per cent.

Pamp;S Bank Q3 profit at Rs 135.3 cr

new delhi: Punjab amp; Sind Bank PSB on Friday reported an 8.6 per cent jump in net profit to Rs 135.3 crore for the third quarter ended December,2010. The state-run lender which got listed on the stock exchanges in December,the last nationalised bank in the country to do so had posted a net profit of Rs 124.6 crore for the same quarter a year ago. The bank8217;s net profit was pulled down somewhat on account of the need to provision Rs 50 crore toward a second pension option scheme benefiting existing and retired employees that had not opted for the original plan.

BHEL net profit at Rs 1,403 cr

new delhi: State-owned power equipment maker BHEL on Friday reported 31 per cent jump in its net profit at Rs 1,403 crore for the quarter ended December 31,2010,on the back of robust growth in sales. The company had reported a net profit of Rs 1,072 crore in the same quarter,previous financial year 2009-10,BHEL said in a filing to the BSE. Income from operations or sales of the company rose 26 per cent from Rs 7,386 crore in the quarter ended December 31,2009 to Rs 9,280 crore in the quarter ended December 31,2010.

BoI Q3 net at Rs 653 cr

mumbai: Public sector lender Bank of India BoI today posted a 60.80 per cent jump in net profit to Rs 653 crore for the December quarter,driven largely by the base effect and other factors like a rise in interest income. The bank8217;s net profit in the October-December period last year was Rs 406 crore. The Mumbai-headquartered bank8217;s Chairman and Managing Director,Alok Misra,attributed the jump in net profit to a 33 per cent rise in net interest income to Rs 1,987 crore. The bank8217;s net non-performing assets NPAs were down to 0.88 per cent of its total loan liability in the reporting quarter.