Gurgaon Bank, Himalya Intl & IGL Q4 results

CORPORATE SCORECARD

Gurgaon Bank net up 19%

Gurgaon Gramin Bank, sponsored by Syndicate Bank registered a 18.74-per cent growth in net profit, which stood at Rs 33.27 crore for 2005-06.

The bank's gross advances grew by 11.45 per cent, to Rs 451.59 crore from 405.19 crore at the end of March 2005.

The bank, with 129 branches recorded a deposits growth of 48 per cent, to reach Rs 1,311.88 crore, as on March 31, 2006, as against Rs 885.18 crore at the end of previous year. The net NPAs of the bank stood at 0.81 per cent.

Himalya Intl net up 550%

Himalya International (HIL) has posted a 550-per cent increase in net profit, to Rs 6 crore for the financial year ended March 2006, as compared to Rs 92 lakh last year.

The company reported such a staggering performance on a sales growth of Rs 21.98 crore, as against Rs 16.70 crore in the last year.

The largest producer of specialty Mozzarella cheese outside Italy and the second-largest producer of mushrooms in India, reported a phenomenal growth in net profit to Rs 4.05 crore in the fourth quarter of 2005-06, as against a loss of Rs 58 lakh in the same quarter of the previous fiscal.

This has been the best quarter in the history of the company, which saw the exports opportunities from its $25-million cheese project.

The company's EPS stands at Rs 2.72, as compared to 0.52 paise last year. The company expects a robust growth of its existing food processing business, as well as its new dairy business.

IGL net up 14.5%

Indraprastha Gas (IGL) has reported 14.5 per cent increase in net profit to Rs 106.13 crore, for the year ended March 31, 2006.

During the fiscal, the company reported 15.4 per cent increase in its gross turnover at Rs 609.62 crore, against Rs 528.2 crore reported for 2004-05.

A release from the company said that, it expects to maintain its growth rate in the current financial year, with growth opportunities in the conversion of private cars, introduction of compressed natural gas (CNG) in the lights goods vehicles segment and also large scale expansion of piped natural gas in the domestic, commercial and industrial segments.

IGL caters to over 1.06 lakh CNG vehicles, which includes 25000 private cars. The company claimed that 1500-2000 cars are being converted to CNG based vehicles every month.