Oct. 24: Castrol India Ltd registered an 84 per cent growth in net profits in the quarter ended September 30 — the third in its financial year.
The company posted a net profit of Rs 39.17 crore during the quarter, compared with Rs 21.3 crore in the corresponding period of the last financial year. Turnover (net of taxes) was at Rs 276.12 crore during the quarter.
Castrol’s managing director Naveen Kshatriya said in a release to the stock exchanges: “The company has been able to make good progress and maintain its leadership position through a number of customer-focused marketing initiatives, brand-building activities and strategic alliances.”
Tata Telecom profit
Tata Telecom has recorded a modest 14.95 per cent growth in its net profit and 28 per cent growth in revenue for the first half of the financial year ended September 2002.
According to the unaudited results released by the company, it registered a new profit of Rs 4.92 crore during the first half of the financial year against Rs 4.28 last year. The company had reported a turnover of Rs 129.65 crore during fiscal 2002 as compared with Rs 101.36 crore in the corresponding period last year.
In the second quarter of 2002-03, the company recorded a revenue of Rs 70.05 crore as against Rs 59.73 crore same period last year, a rise of 17.28 per cent.
UTI Bank net up 43%
UTI Bank has recorded a 43 per cent jump in its net profit at Rs 44.17 crore in the quarter ending September 2002 as against Rs 30.95 crore a year ago. Total income rose 32.62 per cent to Rs 485.73 crore as against Rs 366.25 crore in the second quarter last year. Interest earned by the bank grew 34.02 per cent to Rs 367.36 crore, from Rs 274.10 crore.
For the six months ending September, net profit rose by 42 per cent to Rs 80.15 crore (Rs 56.32 crore), total income to Rs 880.02 crore (Rs 733.53 crore) and interest earned was Rs 701.79 crore (Rs 540.48 crore).
Colgate H1 net up 17%
Colgate Palmolive (India) Ltd has posted a 17 per cent rise in net profit for the first half ended September 30, 2002 at Rs 37.8 crore. In the second quarter, net profit grew 15 per cent to Rs 19 crore from Rs 16.5 crore for the same quarter last year.
Continued sluggish consumer demand has resulted in a 10 per cent decline in sales from Rs 293 crore in the second quarter of 2001-02 to Rs 264 crore.
SKF net at Rs 7.37 cr
SKF Bearings India has posted a net profit of Rs 7.37 crore for the quarter ended September 30, 2002 against a net loss of Rs 2.76 crore in the same period last year. Net sales went up by 5.2 per cent to 94.8 crore from 90.16 crore a year earlier. Net profit for the first nine months of this year jumped by 56 per cent to 13.35 crore from 8.56 crore a year ago.
Net sales during this period also rose 13 per cent to 294 crore from 260 crore.
Union Bank net soars
Union Bank of India has registered a 136.35 per cent jump in its net profit at Rs 93.36 crore for the second quarter ended September 2002 as compared with Rs 39.50 crore in the corresponding period last year mainly due to growth in savings bank deposits.