UTI Bank to raise funds
UTI Bank has proposed to raise Rs 200 crore through an issue of Upper Tier II unsecured redeemable subordinated debentures. The bank said it would raise the funds, with an option for oversubscription, by way of debentures of Rs 10 lakh each at a price of Rs 10 lakh per debenture. The debentures carry a coupon rate of 9.35 per cent per annum and can be redeemed 15 years from the deemed date of allotment, with prior approval from the RBI. The debentures will be listed on the NSE and the BSE.
VIP Industries Ltd’s net profit was down to Rs 0.1 crore in the second quarter ended September 30 from Rs 0.82 crore a year ago. The company’s total income was Rs 82.69 crore against Rs 70.72 crore in the corresponding quarter of the previous year. Exports have increased 68 per cent to Rs 19.53 crore from Rs 11.63 crore.
Infrastructure Development Finance Company Ltd’s (IDFC) net profit in the half-year ended September 30 was Rs 286 crore against Rs 215 crore a year ago, a rise of 33 per cent. Net interest income was Rs 213 crore compared with Rs 147 crore in the corresponding period of the previous fiscal.
Blue Star’s net profit for the quarter ended September 30 was Rs 18.4 crore. Total income was Rs 376.72 crore in the quarter. Earnings per share increased to Rs 2.05 from Rs 1.29 a year ago.
Sterlite Optical Technologies Ltd’s net profit in the quarter ended September 30 was Rs.19.85 crore against Rs 1.17 crore a year ago. Net revenues were Rs 379.65 crore compared with Rs 124.16 crore in the same period of the previous fiscal.
AIA Engineering Ltd’s net profit in the second quarter of this fiscal was Rs 24.4 crore against Rs 10.6 crore a year ago. Profit before tax was Rs 32.5 crore compared with Rs 15.2 crore in the previous year. Net sales was Rs 131.1 crore against Rs 94.8 crore in the corresponding period of the previous fiscal.
Gujarat Fluorochemicals Ltd’s net profit in the second quarter of this fiscal was Rs 53.06 crore against Rs 12.42 crore in the previous fiscal. Revenues increased to Rs 137.95 crore from Rs 42.09 crore a year ago. EBIDTA was Rs 84.65 crore compared with Rs 15.92 crore.
Kansai Nerolac Paints Ltd’s net profit for the quarter ended September 30 was Rs 27.91 crore against Rs 30.04 crore a year ago. Gross sales was Rs 385.6 crore compared with Rs 317.47 crore in the corresponding quarter of the previous fiscal.
Southern Ispat Ltd’s sales stood at Rs 5.57 crore in the quarter ended September 30 against Rs 4.60 crore a year ago.