TOP CORPORATE NEWS-31 january

TOP CORPORATE NEWS

·        PNB Q3 net falls 42% to Rs 755 cr but asset quality better

Punjab National Bank reported 42 percent degrowth (higher-than-expected) in net profit in the third quarter year-on-year, but the asset quality of the bank improved sequentially. Net profit fell to Rs 755.41 crore from Rs 1,305.62 crore on account of higher provisions and tax expenses, and lowers other income.

·        Syndicate Bank Q3 profit slips 25%, asset quality stable

Syndicate Bank's third quarter net profit fell 25.2 percent year-on-year to Rs 380 crore on low net interest income but asset quality was stable.  Operating profit of the bank declined 6.71 percent on yearly basis to Rs 806 crore during December quarter as the net interest income during the quarter is less by Rs 52 crore.

·        IRB Infrastructure Q3 net profit at Rs1085.218 mn

IRB Infrastructure Developers Ltd has posted a net profit after taxes and Minority Interest of Rs. 1085.218 mn for the quarter ended December 31, 2013 as compared to Rs. 1427.194 mn for the quarter ended December 31, 2012. Total Income has decreased from Rs. 9465.741 million for the quarter ended December 31, 2012 to Rs. 9059.098 million for the quarter ended December 31, 2013.

·        Arvind Q3 net profit up 36%

Arvind Limited posted strong revenue growth of 26% to Rs. 1774 crores and Net Profit After Tax growth of 36% to Rs. 102 crores for the quarter ending 31 December 2013, as against Revenue of Rs. 1405 crores and Net Profit After tax of Rs. 75 crores for the same quarter last year, that ended on 31 December 2012.

·        Colgate-Palmolive Q4 net sales at $4,361 mn

Colgate-Palmolive Company reported worldwide Net sales of $4,361 million in fourth quarter 2013, an increase of 2.0% versus fourth quarter 2012. Global unit volume grew 6.5%, pricing was even with the year ago quarter and foreign exchange was negative 4.5%.