Dena Bank net profit halves to Rs 125.67 crore in Jan-Mar qtr
Public sector lender Dena Bank's profit more than halved to Rs 125.67 crore in the quarter ended March 31 of 2012-13 due to higher provisioning and contingencies.
The bank had reported net profit of Rs 254.79 crore over the same period (January-March) of the previous fiscal 2011-12.Bank's provisioning and contingencies rose to Rs 341.95 crore in the quarter ended March 2013 from Rs 291.11 crore over the previous quarter a year ago.
Total income of the bank during the quarter under review (January-March) rose to Rs 2,539.74 crore from Rs 2,166.36 crore a year earlier. For the full fiscal 2012-13, the net profit of the bank rose marginally to Rs 810.38 crore from Rs 803.14 crore in 2011-12.
Total income during the year rose to Rs 9,554.85 crore from Rs 7,376.30 crore.Shares of the bank closed at Rs 93.90 apiece on the BSE on Friday, up 0.91 per cent from their previous close.
JK Cement March quarter net profit down 30 pc at Rs 56 cr
lower sales and higher outgo on freight have eroded JK Cement's net profit by 30 per cent for the quarter ended March 31 at Rs 56.19 crore.
The Kanpur-based maker of building material had clocked Rs 80.34 crore net profit after taxes, minority interest and share of profit of associates in the corresponding quarter of the previous fiscal, it said in a BSE filing.Net sales of the company dipped to Rs 768.81 crore from Rs 805.86 crore a year ago.
Total expenses, on the other hand, went up to 669.68 crore compared to Rs 639.35 crore, mainly on higher outgo on freight.Freight charges rose to Rs 171.19 crore during the quarter from Rs 148.47 crore, it said.
For the full year 2012-13, JK Cement's net profit, however, increased to Rs 233.54 crore from Rs 177.33 crore in 2011-12. The company's board of directors has recommended dividend of Rs 6.50 per share for 2012-13