Q3 corporate results

Hit by low treasury income and higher provisioning,the net profit of Punjab National Bank remained flat at Rs 1,011 crore for the third quarter ended December.

PNB net up marginally at Rs 1,011 cr

New Delhi: Hit by low treasury income and higher provisioning,the net profit of Punjab National Bank PNB remained flat at Rs 1,011 crore for the third quarter ended December. The countrys second largest public sector lender had reported a net profit of Rs 1,006 crore during the same quarter last fiscal. Although it reported a flat profit,as the market leader State Bank did last week,PNB too proposed 100 per cent interim dividend for its shareholders.

The total income of the bank also remained at the same level as that of the corresponding quarter a year ago at Rs 6,236.55 crore.

During the quarter,the bank booked a treasury income of only Rs 157 crore against Rs 341 crore in the same quarter a year ago,PNB chairman and managing director KR Kamath said. Besides,the bank also made prudent provisioning for the debt relief scheme and expected wage revision,pulling down the profit,he added. PTI

BoB net up 18 pc on fee income

Mumbai: Backed by a healthy growth in core fee income,Bank of Baroda overcame challenging market conditions to post a 17.5 per cent jump in net profit in the third quarter,overshadowing the muted earnings posted by many of its peers. The banks third-quarter net profit grew to Rs 832.49 crore against Rs 708.3 crore in the year-ago period as core fee-based income,which comprises commissions,bank guarantees and various charges,rose to Rs 356 crore in the third quarter compared to Rs 280 crore a year-back.

The good growth was despite a visible decline in its bond investments and lower treasury gains in the reporting quarter. Treasury income slipped to Rs 1,107.9 crore in the quarter from Rs 1,273.7 crore in the year-ago period.

BoB also bettered other banking biggies like SBI and ICICI Bank in loan growth during the period. Its advances grew an impressive 19 per cent in the quarter. Retail loans grew by 18.6 per cent,SME advances by 47 per cent and farm-loans by 20 per cent. PTI

DLF profit declines 30.25 pc

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New Delhi: The countrys largest real estate firm DLF on Wednesday reported a fall of 30.25 in its consolidated net profit for the October-December quarter at Rs 467.89 crore. The company had posted a net profit of Rs 670.79 crore during the same period of 2008-09. The companys consolidated revenue during the period,however,rose 43 at Rs 2,152 crore from Rs 1,503 crore during the same period of last year.

The companys Ebidta rose to Rs 969 crore compared to Rs 908 crore in the corresponding period of last year. DLF said that it realised approximately Rs170 crore during the quarter from sale of non-core assets,taking the total divestment in FY10 to Rs 1,234 crore. The company said that it continues to focus on sales/launch of mid income housing projects on a pan India basis. Rajiv Singh,vice chairman,DLF Ltd,said,With the economy on path of recovery,we witnessed

renewed demand for luxury/high end housing,in addition to stable demand for residential homes. FE