UTI Bank pays 15 p.c.

UTI Bank has registered a 69 per cent rise in its net profit at Rs. 86.12 crores for the financial year ended March 31, 2001 against Rs. 51.06 crores posted in the previous fiscal.

The board has recommended a dividend of 15 per cent in the reporting year as against 12 per cent in the 1999-2000. Total income stood at Rs. 1052.62 crores against Rs. 574.42 crores, a rise of 83 per cent. Interest income was up by 84 per cent at Rs. 889.62 crores against Rs. 483.25 crores). Other income also increased by 78 per cent at Rs. 163 crores (Rs. 91.17 crores).

Deposits have grown by 59 per cent at Rs. 9,092.19 crores against Rs. 5,733.13 crores while advances rose by 36 per cent at Rs. 4,888.15 crores against Rs. 3,586.23 crores). In the fourth quarter ended March 31, 2001, the net profit was flat at Rs. 27.92 crores against Rs. 27.42 crores. Total income in Q4 was Rs. 348.73 crores against Rs. 188.74 crores.

The accounts reflect a marked-to-market depreciation in value of Rs. 28.06 crores of bank's equity portfolio during Q4. The portfolio consists of liquid stocks of fundamentally strong companies. The bank expects to write off this depreciation in large measure as and when the equity market revives.

Videocon Intl.

Videocon International has achieved a net profit of Rs. 151.44 crores for the financial year ended March 31, 2001 against Rs. 141.03 crores in the same period of previous fiscal.

Total income was also higher at Rs. 3,253.7 crores in the reporting year against Rs. 3,004.83 crores in the same period, the company said in a notice to Bombay stock exchange here

For the fourth quarter ended March 2001, the net profit was up 66.98 per cent at Rs. 42.48 crores against Rs. 25.44 crores. The total income in Q4 stood at Rs. 906.67 crores against Rs. 723.82 crores, the notice added.

Soffia Software

Soffia Software has reported a total revenue of Rs. 12.06 crores in the third quarter ended March 31, 2001 against Rs. 4.09 crores in the same period last year. Exports accounted for 72.5 per cent of the total revenue. The gross profit before depreciation and interest charges has risen sharply to Rs. 4.92 crores from Rs. 1.62 crores. Interest charges claimed Rs. 7.49 lakhs (nil) and depreciation Rs. 1.06 crores (Rs. 39.91 lakhs). There is no provision towards taxation against Rs. 7.50 crores in the year ago period.The net profit has increased to Rs. 3.78 crores from Rs. 1.14 crores.

In the nine months ended March 31, 2001 the turnover was Rs. 33.16 crores and the net profit after taxation Rs. 10.45 crores.

The company has added prestigious clients like AT&T, USA Travel Agency, Simutest, City of Tracy in high-end technologies in embedded software for chip sets operation support systems on global packet radio service & 3G. It is exploring avenues for maintenance software in the Europe and the Middle East as also in the process of developing e-governance projects in the same area.

Samtel Colour

Colour picture tube maker, Samtel Colour has achieved a 11 per cent increase in net profit at Rs. 41.56 crores in the 12 months ended March 31, 2001. The turnover has declined marginally to Rs. 666.54 crores. The company had achieved a net profit of Rs. 37.31 crores on a turnover of Rs. 669.90 crores in the previous year.

On an annual basis, the market was more or less at the same level as in the previous year. While the slowdown in consumer demand is persisting, it is expected that the market will show only nominal growth even in this financial year, according to a release.

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