Tata Power Company has reported a consolidated net profit of Rs.198 crore for the third quarter ended December 31, 2014, against net loss of Rs.75 crore in the same period last year.
The growth in profitability was mainly contributed by forex gains of approximately Rs.500 crore including Rs.410 crore due to VAT settlement in the coal companies; favourable impact of tariff order in Maithon Power Ltd. and Coastal Gujarat Power Ltd.’s higher contribution due to higher availability coupled with higher generation, the company said. Total income increased to Rs.8,806 crore (Rs.8,700 crore).
On a standalone basis, the company posted a net profit of Rs.235 crore for the quarter ended December 31, 2014, against Rs.251 crore. Total income increased to Rs.2,109 crore from Rs.2,007 crore.
Wockhardt Wockhardt reported a better than expected performance in the third quarter of 2014-15 thanks to a strong showing by its international business. Its consolidated net profit for the quarter rose 14 per cent to Rs.347 crore on 12 per cent higher sales of Rs.1,382 crore. Wockhardt’s operating profit jumped 92 per cent to Rs.463 crore and operating margin was at 33.5 per cent (19.5 per cent), according to a company statement. The India business grew 15 per cent while the Emerging Markets business grew 28 per cent.
Karur Vysya Bank Karur Vysya Bank has surpassed the Rs.80,000 crore mark in respect of total business which stood at Rs.80,862 crore as at December 31, 2014, an increase of 5.24 per cent from Rs.76,833 crore as on December 31, 2013.
While deposits were up by 3.18 per cent at Rs.45,116 crore, total advances rose by 7.07 per cent to Rs.35,746 crore, the bank said in a release. The bank reported 28.2 per cent rise in its net interest income for the third quarter at Rs.391 crore against Rs.305 crore in the year-ago period. The net profit for the quarter registered a rise of 6.61 per cent on year-on-year basis to Rs.114 crore from Rs.107 crore. Other income rose by 39.3 per cent to Rs.147 crore from Rs.106 crore.
The gross NPA stood at 1.91 per cent (1.47 per cent) and the net NPA at 0.73 per cent (0.48 per cent) with a provision coverage ratio of 75.09 per cent (same).
