The Hindu : Business : UTI Bank net up 44 p.c.

Online edition of India's National Newspaper
Friday, Apr 30, 2004

Business

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UTI Bank net up 44 p.c.

UTI Bank has reported a 44.8 per cent growth in its net profit at Rs. 278.31 crores in the year ended March 31, 2004 against Rs. 192.18 crores in the previous year. Total operating income was Rs. 1,105.41 crores an increase of 51 per cent over Rs. 732.87 crores in the previous year. Deposits registered a rise of 24 per cent at Rs. 20,954 crores against Rs. 16,965 crores, with an increase of 82 per cent in savings bank deposits at Rs. 2,585 crores (Rs. 1,423 crores). Net advances rose by 30 per cent to Rs. 9,363 crores from Rs. 7,180 crores. The bank has ended the year with a capital adequacy ratio of 11.21 per cent. The bank has proposed a dividend of 25 per cent.

IMPAL

India Motor Parts and Accessories (IMPAL), has increased its net sales to Rs. 192.79 crores (unaudited) in the year ended March 31, 2004 from Rs. 179.75 crores in the previous year. The net profit before tax was Rs. 13.58 crores against Rs. 12.87 crores. Taxation claimed Rs. 4.76 crores (Rs. 4.66 crores). The net profit stood at Rs. 8.82 crores against Rs. 8.21 crores.

In the three months ended March 31, 2004 net sales stood at Rs. 48.56 crores against Rs. 42.09 crores and the net profit after tax Rs. 2.15 crores (Rs. 1.31 crores).

Andhra Bank

Andhra Bank has posted a 19.9 per cent rise in its consolidated net profit at Rs. 459.12 crores for the year ended March 31, 2004 against Rs. 382.70 crores in 2002-03. The board has recommended a final dividend of 14 per cent for 2003-04, taking the total dividend to 28 per cent, the bank's Chairman and Managing Director, T. S. Narayanasami, told reporters.

The total consolidated income for the reporting year rose to Rs. 2,911.82 crores from Rs. 2,800.93 crores. Deposits grew to Rs. 22,940 crores as on March 31, 2004 from Rs. 21,061 crores and advances to Rs, 13,384 crores from Rs, 11,899 crores. The bank's capital adequacy ratio improved to 13.71 per cent from 13.62 per cent. The net NPAs were down to 0.93 per cent (1.79 per cent).

Mangalore Chemicals

The fourth quarter net profit of Mangalore Chemicals and Fertiliser has gone up by 38 per cent to Rs. 9.08 crores on a turnover of Rs. 151.47 crores, which is up 8.6 per cent over the previous year. The turnover was higher by 9.22 per cent at Rs. 614.57 crores while the net profit was up by 7.4 per cent at Rs. 22.32 crores, a press release from S. Kannan, Company Secretary, here stated.

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