Sundaram Brake & State Bank of Indore Q4 results

Sundaram Brake net up 45% at Rs 3.19 cr

Sundaram Brake Linings has reported 45 per cent growth in net profit to Rs 3.19 crore for the quarter ended March 2006 compared with Rs 2.19 crore for the same period last year.

The company registered increase of 19.6 per cent in total turnover to Rs 38.66 crore for the quarter compared with Rs 32.31 crore.

The board declared a second interim dividend of 50 per cent (Rs 5 per equity share) for the year based on record date of May 10, 2006. For the full year ended March 2006, the company reported marginal growth of 2.3 per cent in net profit to Rs 10.39 crore compared with Rs 10.15 crore. Total turnover registered a growth of 9 per cent increase to Rs 144.4 crore during the year compared with Rs 132.7 crore for the previous year.

State Bank of Indore net up 4% at Rs 139 cr

State Bank of Indore has reported 4 per cent increase in net profit to Rs 139.11 crore in the financial year ended March 2006 compared with the corresponding quarter last year.

The State Bank of Indore has been concentrating on growth in income from its core operations. During the year, total interest income of the bank increased by 19 per cent to Rs 1,322.69 crore from Rs 1,109.83 crore. In a statement the bank said that it also made a profit of Rs 78.32 crore from domestic treasury operations.

Overall business of the bank grew by 24 per cent during the year and total business crossed Rs 28,000 crore. Total deposits increased to Rs 16,660 crore from Rs 13,807 crore during the year, thereby registering more than 20 per cent growth and gross advances increased from Rs 9,253.45 crore to Rs 12,022.10 crore during the year, registering growth of 30 per cent.

The bank has so far installed 214 ATMs, with all branches networked to more than 5,500 State Bank group ATMs throughout the country.

Six new branches were opened during the year including four in Madhya Pradesh taking the total number of branches to 440. The bank plans to install 86 more networked ATMs taking the total number of ATMs to 300 by the end of current financial year.