Canara Bank net up five percent in third quarter

Leading state-run Canara Bank Monday reported net profit of Rs.1,106 crore for the third quarter of the current fiscal (2010-11), registering a marginal five percent increase year-on-year (YoY) over Rs.1,053 crore posted last year.

UCO Bank’s net up 22.35 percent in Q3

Public sector UCO Bank Friday declared a 22.35 percent year-on-year (YoY) growth in its net profit to Rs.301 crore in the third quarter of the current fiscal compared to Rs.246 crore in the corresponding period the previous year. Declaring the third quarter results, UCO Bank chairman and managing director Arun Kaul said: “Operating profit for the quarter posted a growth of 65.58 percent to Rs.765 crore.” “Bank deposit registered 16.05 percent YoY growth to Rs.1.21 lakh crore for the quarter, while advances of the bank stood at Rs.0.89 lakh crore registering 20.43 percent YoY growth,” he added. Net interest income grew by 89.94 percent in nine months of FY11 to Rs.3,001 crore backed by an impressive 20.43 percent growth in advances, Kaul added.

Wipro forecasts $1.4 billion IT revenue in Q4

Software major Wipro Ltd Friday said revenue from its global IT business for the Jan-March fourth quarter of this fiscal would be $1.4 billion, projecting a sequential growth of four percent over the Oct-Dec third quarter.

Biocon net profit up 20 percent in second quarter

India’s leading biotech firm Biocon Ltd posted net profit of Rs.89 crore for the second quarter (July-Sep) of this fiscal (2010-11), registering a 20 percent year-on-year (YoY) growth. In a regulatory filing Friday, the company said its total income for the quarter under review (Q2) was Rs.688 crore posting 16 percent YoY. Operating margin is 22 percent, while earnings before interest, tax, depreciation and amortization is at Rs.153 crore, an increase of 21 percent