NIIT Technologies consolidated net profit rises to Rs43.5 crore in Q2

IT solutions provider NIIT Technologies Ltd said its second quarter consolidated net profit stood at Rs43.5 crore compared to Rs40.9 crore in the same quarter last year.
In the September quarter, its consolidated revenues increased to Rs325 crore from Rs291.4 crore, said the company in a statement.

NIIT Technologies operating profit was up 9.7% at Rs59.3 crore.

"We experienced all round sequential growth from all geographies and in every industry segment of focus," said Arvind Thakur, CEO, NIIT Technologies, in a regulatory filing.

On Monday, NIIT Technologies shares gained 1.8% to Rs227 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% higher at 20,168 points.
 

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HDFC net profit jumps 22% to Rs807.5 crore in Q2

Mortgage lender Housing Development Finance Corporation (HDFC) Ltd said its net profit in September 2010 quarter increased to Rs807.5 crore, an increase of 22%, from Rs663.9 crore in the same quarter last year.

For the September 2010 quarter, HDFC's net interest income was Rs1,189 crore, a rise of 26%, as against Rs947 crore in the corresponding quarter of the previous year.

On Monday, HDFC shares ended 0.3% down at Rs724 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% higher at 20,168 points.
 

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ICICI Bank launches cross-border remittance service — I Express

Mumbai: Private sector lender ICICI Bank today launched I-Express, an instant cross-border money transfer option for Non-Resident Indians (NRIs), reports PTI.

This service will be available through the ICICI Bank's select partners in Gulf Cooperation Council (GCC) — political and economic union involving the six Arab states of the Persian Gulf, a press release issued here said.

I-Express facility offers the remitter, the option of visiting any partner outlet for instant credit into the beneficiary account maintained with ICICI Bank in India, at no extra cost.

Under this service, the funds will be instantly remitted and the beneficiary can withdraw the money immediately.

An ICICI Bank spokesperson said, "ICICI Bank not only offers funds transfer facility into the accounts of beneficiaries held in its own branches in India, but also helps in crediting funds into accounts of beneficiaries held in over 65,000 branches of other Indian banks."

With funds being accessible through the network of over 2,500 branches and 5,600 ATMs, apart from the over 55,000 Visa-enabled ATMs, the facility significantly enhances the value-proposition of ICICI Bank's cross-border remittance offerings to both the partners and NRIs in the GCC, the release added.

ICICI Bank has been a leading remittance player in the Indian remittance market, enabling remittances from across 40 countries worldwide.

The bank has relationships with over 80 correspondent banks and 23 exchange houses across GCC.

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