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Market Update

India Movers: RPower Net Climbs; BOB, BOI, Dena Bank Net Decline


Author: Mukesh Buch
ticker.com
Last Update: 9:25 AM ET May 13 2013

6:00 PM Mumbai – Bank of Baroda fourth quarter net declined 32%, Bank of India net declined 21% and Dena Bank net plunged 51%. J.K. Cement net dropped 30%. Nestle India net was nearly flat and RPower net climbed 15%. Sobha Developers net declined 28%.

The Sensex Index declined 450.54 or 2.2% to close at 19,671.78 The CNX Nifty dropped 126.80 or 2.1% to close at 5,980.45.

Gainers & Losers

Bank of Baroda slid 1.8% to Rs 691 after fourth quarter net profit declined 32.2% to Rs 1,028.85 crore and total income climbed 13.8% to Rs 10,262.50 crore.

For the year, net profit dropped 10.5% to Rs 4,480.72 crore and total income soared 17.3% to Rs 38,827.28 crore.

Bank of India declined 4.4% to Rs 324.25 after net profit in the fourth quarter declined 20.6% to Rs 756.57 crore and total income climbed 5.6% to Rs 9,265.55 crore.

Non-interest income for the quarter surged 13% to Rs 1,094 crore and for the year, global business soared to Rs 6,74,808 crore from Rs 5,69,710 crore.

For the year, net profit increased 2.7% to Rs 2,749.35 crore and total income jumped 12.2%to Rs 35,674.96 crore.

Dena Bank dropped 3.6% to Rs 90.55 after net profit in the fourth quarter plunged 50.7% to Rs 125.67 crore and total income jumped 17.2% to Rs 2,539.74 crore.

During the quarter, net interest income slumped 6% to Rs 562 crore.

For the year, net profit rose 0.9% to Rs 810.38 crore and total income surged 29.5% to Rs 9,554.85 crore.

The ratio of gross non-performing assets increased to 2.19% at the end of March from 2.09% and provisions and contingencies soared 17.5% to Rs 341.95 crore.

J.K. Cement Limited plunged 5.8% to Rs 276.50 after net profit in the fourth quarter dropped 30.1% to Rs 56.20 crore and net sales rose 4.6% to Rs 768.81 crore.

For the year, net profit climbed 31.7% to Rs 233.55 crore and revenues jumped 14.4% to Rs 2,904.04 crore.

Nestle India Limited slipped 1.2% to Rs 4,850 after net profit in the first quarter grew 1.2% to Rs 279.10 crore and net sales advanced 9.7% to Rs 2,248.10 crore. Net domestic sales jumped 7.7%.

Reliance Power Limited dropped 3.1% to Rs 77.50 after consolidated net profit in the fourth quarter climbed 15% to Rs 266 crore and total income surged 94% to Rs 1,265 crore.

For the year, consolidated net profit jumped 17% to Rs 1,011 crore and total income soared 91% to Rs 5,284 crore.

J.P. Chalasani, chief executive officer said “for the year, our operating revenues surged 144% and net profit climbed by 17%.”

Sobha Developers Limited gained 1.4% to Rs 403.95 after fourth quarter consolidated net profit declined 28% to Rs 69.60 crore and revenues jumped 12.1% to Rs 585.40 crore.

Unichem Laboratories Limited fell 0.9% to Rs 181.55 after net profit in the fourth quarter jumped 33.5% to Rs 31.03 crore and net sales surged 26.7% to Rs 241.23 crore.

For the year, net profit soared 57.2% to Rs 129.60 crore and net sales climbed 25.6% to Rs 996.86 crore.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc