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Corporate Briefs

Mastek to raise funds

Mastek will raise $40 million through foreign currency convertible bonds (FCCBs) and debt to fund its two pre-announced acquisitions. The company expects to get the legal clearance to raise the funds in 30 days. The firm plans to raise $15 million through FCCBs and $25 million through external commercial borrowings. The acquisitions — in Europe and the US — will be roughly of the size of $20-30 million.

Kale PAT

Kale Consultants Ltd’s profit after tax for the quarter ended December 31 was Rs 1.6 crore against Rs 1.4 crore in the corresponding quarter of the previous fiscal. Consolidated revenues stood at Rs 28.6 crore in the reporting period compared with Rs 20.2 crore a year ago.

Magma Shrachi

Magma Shrachi Finance Ltd has clocked a profit before tax of Rs 51.56 crore in the nine months ended December 31 compared with Rs 29.51 crore a year ago. Revenues for the period increased to Rs 309.65 crore from Rs 155.76 crore in the corresponding period of the previous year.

YES Bank

YES Bank has clocked a net profit of Rs 54.24 crore in the quarter ended December 31 against Rs 25.10 crore in the corresponding quarter of the previous year. Operating profit was Rs 100.94 crore in the reporting period against Rs 47.89 crore a year ago.

Ipca Lab

Ipca Laboratories has reported a net profit of Rs 38.34 crore for the quarter ended December 31 against Rs 34 crore a year ago. Net sales stood at Rs 281.79 crore in the reporting period against Rs 234.35 crore in the corresponding quarter of the previous year.

Kansai net

Kansai Nerolac Paints Ltd has registered a net profit of Rs 30.24 crore in the third quarter ended December 31 against Rs 25.82 crore a year ago, a 17.1 per cent rise. Net sales were at Rs 345.39 crore in the reporting period against Rs 322.56 crore in the year-ago period. Profit before tax stood at Rs 43.93 crore.

SKP profit

SKP Securities Ltd has clocked a profit before tax of Rs 1.73 crore in the third quarter against Rs 65 lakh a year ago. Income rose to Rs 4.81 crore from Rs 2.46 crore in the year-ago period.

SBI pact

The State Bank of India has entered into a business cooperation agreement with Japan's Mizuho Corporate Bank. The Japanese bank has offices in Mumbai and New Delhi.

Voltas PAT

Voltas Ltd has registered a profit after tax (PAT) of Rs 47.22 crore in the quarter ended December 31. Income from operations stood at Rs 676.8 crore. The company's profit before tax was Rs 68.87 crore.


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