Marg, Take Solutions & ING Vysya Bank Q1 result

Marg net profit up marginally

Chennai-based infrastructure company Marg Limited has reported a marginal 6 per cent growth in net profit for the quarter ended June 30, 2009 to Rs 11.07 crore as against Rs 10.35 crore in the same quarter last year. Net income increased to Rs 122.67 crore as against Rs 80.72 crore in the year-ago period. Total expenditure also increased to Rs 102.45 crore as against Rs 63.53 crore.

Take Solutions suffers Rs 2-crore loss

Chennai-based business solutions firm Take Solutions Limited has reported net loss of Rs 2.07 crore for the quarter ended June 30, 2009 as against Rs 7.37 crore in the same quarter last year. Income from software operations has reduced to Rs 6.25 crore as against Rs 22.07 crore in the year-ago period. Net sales of the company decreased to Rs 6.98 crore as against Rs 23.66 crore in the year-ago period.

ING Vysya Bank to raise funds

ING Vysya Bank Ltd is planning to raise funds by way of issuing further capital or through global depository receipts, foreign currency convertible bonds, qualified institutions placement, preferential issue or rights issue. The bank’s board of directors meeting is convened on August 5, 2009 to take a decision in this regard. For the quarter ended June 30, 2009, the bank’s capital adequacy ratio stood at 12.55 per cent up from 10.38 per cent in the corresponding quarter last year. Its gross non performing assets for the quarter rose by 44.4 per cent to Rs 329.4 crore compared to the corresponding quarter. Net NPA increased to 1.27 per cent from 0.84 per cent last year.