Kotak Mahindra Bank net profit rises Rs364.1 crore for September quarter

Kotak Mahindra Bank Ltd said it has registered consolidated net profit of Rs364.1 crore for the quarter ended 30 September 2010 against Rs299.8 crore for the corresponding quarter of 2009.

Interest earned was Rs1,449.3 crore compared with Rs1,106 crore for the quarter ended September 2009. Interest expended was Rs606 crore against Rs426.4 crore for the previous year.

On Thursday, Kotak Mahindra shares gained 0.2% to Rs501 on the Bombay Stock Exchange, while the benchmark Sensex closed 2% higher at 20,260 points.

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Ashok Leyland reports net profit Rs167.1 crore in Q2

Automobile manufacturer Ashok Leyland Ltd said its net profit for the second quarter ended September 2010 stood at Rs167.1 crore as against Rs88.6 crore in the same quarter last year.

Net sales rose 72% to Rs2,714 crore from Rs1,577.7 crore, said the company in a statement.

The company's increase in both profits and revenue rode on a record sale of 45,989 vehicles for the first half of 2010-11.

On Thursday, Ashok Leyland shares gained 1.5% to Rs76 on the Bombay Stock Exchange, while the benchmark Sensex closed 2% higher at 20,260 points.

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Canara Bank Q2 net profit up 10% to Rs1,008 crore

State-owned Canara Bank Ltd reported a 10% rise in net profit at Rs1,007.8 crore for the second quarter ended 30 September 2010.

The Bank had a net profit of Rs910.5 crore in the same quarter of the last fiscal, Canara Bank said in a filing to the Bombay Stock Exchange (BSE).

The lender also reported an increase of 8.4% in total revenues for the quarter at Rs6,077 crore, against Rs5,602 crore in the year-ago period.

Further, the Bank earned an interest of Rs5,577 crore during the quarter, compared to Rs4,709 crore during the same period last fiscal.

During the first half ended 30 September 2010, the Bank clocked a 38% rise in net profit to Rs2,021 crore, compared to Rs1,466 crore in the same period a year ago.

The Bank reported total revenues of Rs11,972 crore in the first six months, compared to Rs10,634 crore in the previous financial year.

On Thursday, Canara Bank shares ended 7.1% up at Rs703 on the BSE, while the benchmark Sensex closed 2% higher at 20,260 points.
 

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