Supported by a healthy growth in interest income, LIC Housing Finance, which was hit by bribery-for-loan scam in November last year, posted a 39% year-on-year rise in net profit at Rs 213 crore for the quarter ended December 2010.
Net interest income grew 55% during the quarter to Rs 352 crore against Rs 228 crore year-ago. Total income rose 59% to Rs 1,354 crore in the quarter from Rs 880 crore in the year-ago period.
Mindtree net dips 43.7%
Press Trust of India
New Delhi: IT and product engineering services firm MindTree on Wednesday reported a 43.7% year-on year decline in net profit at R30.5 crore for the quarter ended December 31, 2010 against R53.77 crore last year.
Profit was hit due to restructuring cost incurred by the company during the quarter.
The company sees margins improving in the March quarter as it completes its restructuring process.
Orchid swings to profit
New Delhi: Orchid Chemicals & Pharmaceuticals on Wednesday posted a consolidated net profit of Rs 56.6 crore for the October-December quarter on steady growth across segments and expects to exceed the guidance for fiscal year 2010-11.
The company had reported a net loss of Rs 18.91 crore in the year-ago period. The Chennai-based firm aims to double its total US business in the next 2-3 years.