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Monday, 15 February 2016

TOP CORPORATE NEWS - 15 FEB 2016

03:44  , , , , , , ,  No comments

NMDC Q3 profit drops by 59% to Rs655 crore
NMDC has announced the following Q3 Un-Audited Standalone results for the quarter ended December 31, 2015 (YoY):
The Company has posted a net profit of Rs655.04 crore Vs Rs1593.01 crore.
Total Income has decreased to Rs1938.42 crore Vs Rs3471.19 crore.

FM indicates reforms push in PSU Banks
The government will soon initiate a series of reforms to improve governance in public sector banks (PSBs), which have reported losses in excess of Rs10,000 crore in an effort to get rid of bad loans.
The finance minister's statement on bank reforms comes ahead of the second edition of the Gyan Sangam — a retreat of PSU banks likely to be held on March 4 and 5 in Gurgaon.

Bank of Baroda rallies post Q3FY16 results
Shares of Bank of Baroda rallied over 24% to Rs140 on NSE post Q3FY16 results despite NPA stress being up fronted, dives into losses
Bank of Baroda reported a loss of Rs3342 crore, highest among the PSU Banks so far, led by sharp increase in NPAs and provisions (up 388% YoY). Unlike most PSU Banks which preferred to spread the hit on asset quality (based on RBI directive) over 2 quarters (Q3 &Q4); BOB took it head-on.

UCO Bank Q3: Net Loss at Rs1, 497 Cr Vs Profit of Rs303.6 Cr (YoY)
UCO Bank Q3: Net Loss at Rs1, 497 Cr Vs Profit of Rs303.6 Cr (YoY)
Gross NPA at 10.98% Vs 8.51% (QoQ)
Gross NPA at Rs14, 931 Cr Vs Rs12, 226.6 Cr (QoQ)
Net NPA at 6.51% Vs 5.15% (QoQ)
Net NPA at Rs8, 409.5 Cr Vs Rs7, 123.1 Cr (QoQ)

PI Inds Q3 net profit up 17% (YoY)
PI Industries has announced the following Q3 Unaudited Standalone results for the quarter ended December 31, 2015 (YoY)
The Company has posted a net profit of Rs72.53 crore Vs Rs62.22 crore.
Total Income has increased to Rs516.05 crore Vs Rs510.85 crore.

                                                      







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