Jan. 22: Tata Motors Ltd has posted a 179 per cent jump in net profit at Rs 210.88 crore for the third quarter ended December 31 compared with Rs 75.71 crore in the year-ago period.

The board has declared a 40 per cent (Rs 4 per share) interim dividend for 2003-04.

Net sales for the October-December quarter was Rs 3,944.59 crore against Rs 2,586.68 crore in the same period last year.

The total revenue at Rs 3,398.26 crore (Rs 2,194.13 crore) showed a growth of 55 per cent.

In the nine-month period from April to December, the company’s revenue net of excise stood at Rs 9075.78 crore (Rs 6101.02 crore), an increase of 49 per cent. Net profits on the other hand shot up to Rs 517.87 crore against Rs 162.54 crore in the same period last year.

Tisco net surges 61%

Tata Iron and Steel Co Ltd has posted a 60.64 per cent rise in net profit at Rs 447.17 crore for the third quarter ended December 31, 2003, compared with Rs 278.36 crore in the same period last fiscal. Net sales increased to Rs 2,632.03 crore as against Rs 2,212.81 crore year-on-year, the company said in a release here today.

Satyam beats forecast

Satyam Computer Services Limited has outperformed its own forecast during the third quarter ended December 31, 2003. The IT major has posted a net profit of Rs 145.87 crore, up 25 per cent from Rs 116.73 crore in the corresponding quarter last fiscal.

Total income has increased to Rs 691.14 crore from Rs 521.50 crore year-on-year.

Satyam chairman B. Ramalinga Raju said the company had achieved an overall 10.7 per cent growth during the quarter.

Indal reports lower net

Indian Aluminium Company (Indal), an Aditya Birla group company, has suffered a marginal dip in its net profit at Rs 27.7 crore in the third quarter ended December 31 compared with Rs 28.7 crore reported in the corresponding period last year.

The company’s turnover has, however, grown by 26 per cent to Rs 398 crore over Rs 315 crore in the year-ago period.

Hindalco net up

Hindalco Industries Ltd has posted a net profit of Rs 196 crore for the quarter ended December 31, 2003 compared with Rs 177.4 crore reported in the corresponding previous quarter. Net sales of the company has increased to Rs 1,707.2 crore in the reporting quarter from Rs 1,309.5 crore in the corresponding previous quarter.

GTL profit rises

GTL Ltd today reported a 61.7 per cent rise in its consolidated net profit for the third quarter ended December 31, 2003 at Rs 31.84 crore as against Rs 19.68 crore during the corresponding period last year.

Consolidated net sales for the reporting quarter dropped to Rs 143.37 crore compared with Rs 156.76 crore in October-December 2002, the company said in a release today.

Vijaya Bank net surges

Vijaya Bank today reported a net profit of Rs 110.11 crore for the third quarter ended December 31, 2003, more than double over Rs 52.60 crore during the corresponding period last year.

The bank, which raised Rs 240 crore in a public issue during the quarter, declared an interim dividend of 10 per cent on the post issue capital of Rs 433.52 crore, an official statement said.