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Jan. 27: NTPC — the country’s largest power generator — today reported a 10 per cent decline in net profit at Rs 2,130.39 crore for the quarter ended December against Rs 2,371 crore in the year-ago period because of an increase in coal prices.
Cost of coal witnessed a sharp jump of about 29 per cent at Rs 10,793.29 crore from Rs 8,338.64 crore.
Net sales rose 14 per cent to Rs 15,332 crore from Rs 13,421 crore last fiscal.
Revenues from the power generation business stood at Rs 15,572.38 crore against Rs 13,475.04 crore a year ago.
The firm, which requires around 164 million tonnes of coal annually, is looking at long-term tie-ups for sourcing coal.
Bhel feat
State-run Bharat Heavy Electricals Ltd (Bhel) today posted a net profit of Rs 1,432.6 crore for the quarter ended December against Rs 1,412 crore a year ago.
Sales grew to Rs 11,078.3 crore from Rs 10,757.6 crore last year.
For the nine months ended December, net profit jumped 14 per cent to Rs 3,660.2 crore from Rs 3,213.2 crore a year ago.
Sales rose to Rs 29,269.1 crore from Rs 24,756.5 crore a year earlier.
According to the company statement, Bhel has maintained its track record of earning profits uninterruptedly for nearly four decades without a break.
BoI show
Bank of India (BoI) has posted a 10 per cent rise in net profit at Rs 716.16 crore for the quarter ended December against Rs 653.16 crore in the year-ago period.
Total income rose to Rs 8,002.27 crore from Rs 6,115.76 crore last year.
During the first nine months of 2011-12, net profit fell 14 per cent to Rs 1,724.79 crore from Rs 1,995.07 crore a year ago.
Total income stood at Rs 23,024.11 crore compared with Rs 17,263.43 crore in the comparable period.
Canara Bank
Canara Bank has posted a 21 per cent decline in net profit at Rs 875.56 crore for the third quarter ended December 31 against Rs 1,105.73 crore in the year-ago period on account of a rise in bad assets.
Gross NPAs rose to 1.81 per cent from 1.44 per cent last year. Provisions other than tax and contingencies rose to Rs 501.18 crore from Rs 157.28 crore.
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