Axis Bank has achieved a total income of Rs. 8,280.29 crore in the second quarter ended September 30, 2012 against Rs. 6,510.89 crore in the same period in the previous year. Other income accounted for Rs. 1,593.06 crore (Rs.1,234.92 crore). Other income also included a gain on partial sale of investment in two wholly owned subsidiaries of the bank. The net profit has risen by 22.1 per cent to Rs. 1,123.54 crore from Rs. 920.32 crore.
It has been stated that the bank was awaiting approvals from regulatory authorities to the scheme of arrangement in respect of the demerger of the financial services businesses from Enam Securities to the bank and simultaneous sale of such businesses to Axis Securities and Sales Limited (now renamed as Axis Capital Limited), a wholly owned subsidiary of the bank with effect from April 1, 2010.
CMC
CMC has reported a 28 per cent growth in its consolidated operating revenue at Rs. 458.25 crore in the second quarter ended September 30, 2012 against Rs. 357.59 crore in the year-ago period.
The net profit rose by 51 per cent to Rs. 49.40 crore from Rs. 32.62 crore.
R. Ramanan, CEO and MD said that the company continued to see good growth potential for its offerings across all business segments and geographies even in a challenging business environment.
GMDC
GMDC (Gujarat Mineral Development Corporation) has achieved a net profit of R s. 168.82 crore for the second quarter ended September 30, 2012 against Rs. 62.62 crore in the year-ago period. The turnover including other income has risen to Rs. 464.34 crore from Rs. 258.81 crore
Rane (Madras)
Rane (Madras) has reported a marginal decline in sales and operating income at Rs. 158.03 crore in the second quarter ended September 30, 2012 against Rs. 163.36 crore in the same period in the previous year. The net profit after tax stood at Rs. 6.42 crore against Rs. 6.97 crore.
