Asian Electronics, Federal Bank, HMT Q3 results

CORPORATE SCORECARD

Asian Electronics bottom line rises 3-fold

Asian Electronics (AEL), manufacturer of energy conservation and lighting products, posted a three-fold rise in net profit for the quarter ended in December 31, 2006, on a yearly basis.

The company reported a net profit of Rs 18.88 crore vis-a-vis Rs 6.38 crore in the corresponding period last year. During the nine months ended December 2006, the company clocked total revenues of Rs 228.54 crore against Rs 104.15 crore a year ago.

Federal Bank profit rises 17% to Rs 84 cr

Federal Bank posted 17.03 per cent year-on-year rise in net profit to Rs 83.84 crore for the third quarter ended December 2006.

For the first nine months ended December 2006, the Kerala-based registered a net profit of Rs 193.48 crore, up Rs 19 crore y-o-y, according to a press release issued by the bank. The bank's operating profit rose 25.46 per cent to Rs 388.26 crore.

HMT posts net loss of Rs 4.5 cr

HMT losses for the third quarter has widened to Rs 4.5 crore for the third quarter ended December 31, 2006 against a net loss of Rs 1.5 crore for the corresponding quarter of last fiscal.

Total income for the quarter grew by about 7 per cent to Rs 70.13 crore, against Rs 65.6 crore in the corresponding period in the previous fiscal. Operating loss has come down to Rs 3.17 crore in the third quarter against Rs 4.56 crore reported in the third quarter of 2005-06.