IDBI Bank Q4 net dips 28% to Rs554 cr
State-owned IDBI Bank on Thursday posted 28 per cent decline in net profit at Rs 554.45 crore for the fourth quarter ended March 31, 2013 on account of rise in bad loans. The bank had net profit of Rs 770.79 crore in the same period last year, IDBI Bank said in a filing to the Bombay Stock Exchange (BSE). Gross non-performing assets (NPAs), as a proportion of advances, rose to 3.22 per cent at the end of March 2013, as against 2.49 per cent in the previous fiscal. Net NPAs also rose to 1.58 per cent during the year from 1.61 per cent at the end of March 2012.
Idea Q4 Net up 29% at Rs 308.18 cr
Mobile operator Idea Cellular on Thursday reported jump of nearly 29 per cent in consolidated net profit at Rs308.18 crore for the fourth quarter ended March 31, driven by growth in voice minutes and high data usage. The company's net profit stood at Rs238.98 crore net profit in the same period last fiscal. Total revenues for the company during the January-March 2013 quarter rose by 12.88 per cent atRs6,061.38 crore from Rs 5,369.69 crore in the corresponding period last fiscal. For the year ended March 31, net profit of the company rose by 39.82 per cent at Rs 1,010.93 crore as compared to Rs 722.99 crore in the last year. "The high revenue growth is led by sharp expansion of voice minutes at 8.5 per cent to 143.4 billion, on sequential quarterly basis, indicating consumer demand for mobile telephony is robust," the company said in a statement.
Bata Q1 net profit rises 7 %
Footwear retailer Bata India on Thursday reported nearly 7 per cent increase in its standalone net profit for the quarter ended March 31 at Rs38.46 crore. The company had posted a net profit of Rs 36 crore in the corresponding period last year, Bata India said in a release. The standalone net income during the first quarter also went up by 11.80 per cent to Rs453.87 crore from Rs405.95 crore in the year-ago period, it added.
JSPl Q4 net down 35 pc at Rs760.27 cr on rising interest cost
Hit hard by rising interest burden and lower sales realisations, Jindal Steel and Power's (JSPl) consolidated net profit fell by nearly 35 per cent to Rs 760.27 crore for the quarter ended March 31, 2013.
The company, headed by Naveen Jindal, had reported a net profit of Rs1,167 crore in same quarter of FY'12.Net sales during the fourth quarter of 2012-13 reported a meagre growth of 2.16 per cent at Rs 5,583.33 crore. The company had reported a net sales of Rs5,465.26crore in the January-March quarter of 2011-12.JSPl is also looking to double the capacity of both of its businesses -- steel and power-- during the current fiscal, said company's Managing Director Ravi Uppal.
Idea served I-T notice; terms it "erroneous"
Mobile operator Idea Cellular on Thursda said it has been served a notice by the Income Tax Department, which the company believes is "erroneous" and it has approached appropriate forums."On the last day of the financial year we received a tax demand on idea cellular and its subsidiaries. We believe the demand is not in line with current tax practices and the demand is erroneous," Idea Cellular Managing Director Himanshu Kapania told reporters here.