Shares in News: Jain Irrigation, Corporation Bank, Bank of Baroda

Jain Irrigation posts Rs 9.2 cr profit in Q3 

Jain Irrigation Systems noted merged net revenue of Rs 9.21 crore for the quarter closed on Dec. 31, against a failure of Rs 39.68 crore in the year ago time. Total income improved to Rs 1,384.15 crore for the quarter closed Dec. 31, 2015 from Rs 1,297.46 crore for the quarter closed Dec. 31, 2014, the company informed the BSE.

Corporation Bank Q3 loss at Rs 383 crore 

State-run Corporation Bank noted a failure of Rs 383.37 crore for the Q3 closed Dec. 31, 2015, due to important bound in poor loans. The bank had earned net revenue of Rs 147.20 crore in the same quarter previous year. Total income also dropped to Rs 5,158.52 crore during the quarter from Rs 5,209.54 crore in the last fiscal.

Bank of Baroda Q3 loss at Rs 3342cr; provisions surge 225% 

Bank of Baroda (BOI) posted quarterly set of numbers that unbreakable the story that has been the running theme for banks this earnings period: that the asset quality image is far poorer than formerly thought. The bank posted a quarterly net failure of Rs 3342 crore, contrasted to Rs 124 crore quarter on quarter. The loss was driven by a 225% raise in provisions, which increased from Rs 1,891 crore in the last quarter to Rs 6164 crore. A tax write-back of Rs 1,118.37 crore proved to be a big help in limiting the sufferers.

Max Financial Q3 profit before tax at Rs 127 crore
Max Financial Services the 1th company to be listed tracking the lately completed demerger of erstwhile Max India, posted revenue before tax of Rs 127 crore for the Q3 of 2015-16. It has recorded merged operating profits of Rs 2,248 crore during the quarter. Max Life Insurance, the sole operating subsidiary held by the company, sustained its consistent development trajectory in quarter, with operating profits rising 10% to Rs 2,243 crore and earnings before tax rising 92% to Rs 140 crore over the same time previous year, MFS said in a report.

NMDC Q3 profit drops by 59% to Rs 655 crore

State-run iron ore miner NMDC  noted 58.8% fall in standalone net revenue at Rs 655.04 crore for the quarter closed Dec. 31, 2015, due to drop in iron ore rates. The company had noted net revenue of Rs 1,593.01 crore in the year-ago time. Net sales of the company too droped 48.5% to Rs 1,517.19 crore during the quarter contrasted to Rs 2,944.39 crore in the year ago time, NMDC said in a filing to the BSE.

RattanIndia Power Q3 loss narrows to Rs 29.51 crore
RattanIndia Power noted tapering of merged loss to Rs 29.51 crore for the quarter closed Dec. 31, 2015. "The group has posted a net failure after taxes & minority interest of Rs 29.51 crore for the quarter closed Dec. 31, 2015 as compared to net failure of Rs 141.19 crore for the quarter closed Dec. 31, 2014," RattanIndia Power said in a BSE filing.

MRPL back in black with Rs 298 crore profit in Dec quarter 

Mangalore Refinery and Petrochemicals Ltd (MRPL) returned to black with net revenue of Rs 298 crore in the Dec. quarter on the back of healthy refining margins. MRPL, a subsidiary of Oil and Natural Gas Corp (ONGC), had a net failure of Rs 1,894 crore in (Oct-Dec) 2014, the company said in a report. The firm earned USD 8.4 on turning each barrel of crude oil into fuel in Q3 of present fiscal as compared to USD 6.74 a barrel gross refining margin in the year-ago time.

PI Industries Q3 net profit up 16% at Rs 72.53 crore 

Agro-chemicals firm PI Industries noted 16% increase in its net revenue at Rs 72.53 crore for the quarter closed Dec. 31, on account of lesser tax expenses and increase in income. The company had noted net revenue of Rs 62.22 crore in the year-ago time. Total income from operations increased to Rs 510.98 crore during the quarter-under review, from Rs 504.92 crore in the same quarter of the last fiscal, the company said in a regulatory filing.

Nandan Denim posts 24% rise in Q3 net; eyes top spot in Asia 

Denim fabric maker Nandan Denim noted a 23.8% increase in net revenue for the Q3 at Rs 15.65 crore. It had listed net revenue of Rs 12.63 crore in the corresponding time of last fiscal. Net sales for the (Oct-Dec) time stood at Rs 287.37 crore, upper by 3.5% from Rs 277.60 crore in the Q3 of FY15, said the company which has unveiled a plan to become the leading denim manufacturer in Asia.

SKF India Q4 net profit rises 42% at Rs 58 crore 

Bearings maker SKF India noted a 42.22% raise in its net revenue at Rs 58.14 crore for the Q4 closed Dec. 31. The company had posted net revenue of Rs 40.88 crore during the year-ago time. Net sales of the company fallen to Rs 601.87 crore during the quarter, as compared to Rs 605.9 crore during the same time of the last fiscal, SKF India Ltd said in a regulatory filing.(Posted by swastika investmart stock trading companies)