Results corner: Biocon Q3 net up 9% to Rs 93 crore

Biocon Q3 net up 9% to Rs 93 crore

New Delhi: Biocon has reported a 9.38 per cent increase in its net profit at Rs 92.81 crore for the third quarter ended December 31, 2012. The firm had posted a net profit of Rs 84.85 crore during the same period of previous fiscal. Net sales of the company rose to Rs 634.22 crore for the third quarter, as against Rs 516.59 crore during the same period of 2011-12 fiscal. Commenting on the results, Biocon chairman and managing director Kiran Mazumdar-Shaw said the company's revenues grew on back of volume expansions, price increases and improved export realisations. "We have performed well across all our business verticals. We continue to gain market share for Biosimilar Insulins in rest of world (ROW) markets which now accounts for a significant part of our business," Shaw added.

OBC Q3 net dips by 8% to R326 cr

New Delhi: State-owned Oriental Bank of Commerce (OBC) on Friday posted 7.8 per cent decline in net profit at Rs 326.40 crore for the October-December quarter due to increase in provisioning. The bank had posted a net profit of Rs 354.22 crore for the October-December quarter of the previous fiscal. "The decline in net profit is due to the increased provisioning for restructured advances and Rs 30 crore provisions for expected wage revision," OBC chairman and managing director SL Bansal said here. The bank has made a provision of Rs 78 crore towards restructured assets, he added. The total provision during the quarter increased to Rs 603.83 crore compared to Rs 380.86 crore in the same quarter a year ago. The bank's gross NPAs increased to 2.98 per cent at the end of the third quarter from 2.92 per cent in December, 2011.

Shriram Transport Fin Q3 net up 19%

Chennai: Shriram Transport Finance, part of the Shriram Group, has reported 19.43 per cent growth in its consolidated net profit at Rs 375.49 crore for the third quarter ended December 31, 2012. The Chennai-based company had reported consolidated net profit of Rs 314.39 crore during the corresponding period of the previous financial year. Consolidated total income for the third quarter ended December 31, 2012 rose to Rs 1,796.16 crore as against Rs 1,549.49 crore registered during the same period a year ago. For the nine-month period ending December 31, 2012 the consolidated net profit of the company grew by 10.2 per cent to reach Rs 1,080.21 crore from Rs 980.07 crore registered during the corresponding period of previous fiscal year. Its earnings per share (basic) surged by 18.99 per cent to Rs 16.54.

McLeod Russel Q3 net profit up by over 5%

New Delhi: McLeod Russel Ltd (MCLR) has posted a little over 5 per cent rise in net profit at Rs 123.15 crore for the quarter ended December 31, 2012. Its net profit stood Rs 117.11 crore in the corresponding period last year, the company said in a filing to the BSE. Total income rose to Rs 448.13 crore during the third quarter of the current fiscal from Rs 404.75 crore in the corresponding quarter of previous fiscal. The company's net profit grew marginally as expenses remained higher at Rs 319.79 crore during the review period. MCLR produces approximately 100 million kg of high quality tea a year from tea estates in Assam, West Bengal, Vietnam, Uganda and Rwanda.

Tata Coffee third quarter net profit up 54%

New Delhi: Tata Coffee on Friday said its standalone net profit rose 54 per cent to Rs 29.20 crore during its third quarter ended December 31. Its net profit stood at Rs 18.99 crore in the year-ago period, the company said in a statement to the Bombay stock Exchange (BSE). "The company's operations have registered an impressive growth during the current quarter. The instant coffee sales were at a higher unit realisation," Tata Coffee said. The strengthening of the US dollar also reflected positively on the green coffee and instant coffee operations, it added. The company's total income rose by 23 per cent to Rs 152.12 crore during the third quarter of the current fiscal.

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