SBM, Vivimed & Zen Tech Q4 results

CORPORATE SCORECARD

SBM net up 3.83%

State Bank of Mysore (SBM) has posted 3.83 per cent increase in net profit at Rs 78.87 crore for the fourth quarter ended March 31, 2006 as compared with Rs 75.96 crore for the Q4 ended March 31, 2005.

Total income rose by 9.11 per cent to Rs 455.14 crore for Q4 FY 05-06 from Rs 417.11 crore in Q4 last year. Net non performing assets (NPAs) stood at 0.74 per cent for the quarter against 0.92 per cent for Q4 FY 2004-05.

Capital adequacy ratio (CAR) of the bank also improved to 11.37 per cent for Q4 as against 12.08 per cent for Q4 of last year. The bank's board of directors have declared a dividend of 90 per cent for the year ended March 31, 2006.

Addressing a press conference to announce bank's annual results, Y Vijayanand, managing director of SBM, said they plan to infuse capital of Rs 400-500 crore through both tier I and tier II capital either through a rights issuer public offer or combination of both.

For the whole year, State Bank of Mysore's net profit grew by 5.07 per cent grew to Rs 216.71 crore for the year ended March 31, 2006 as compared with Rs 206.25 crore for the year ended March 31, 2005.

Total income of the bank increased by 8.98 per cent to Rs 1693.32 crore for FY 05-06 from Rs 1553.78 crore in FY 04-05. Aggregate deposits of the bank grew by 21.33 per cent to touch Rs 16,188.53 crore for FY 05-06 as against Rs 13,342.98 crore registered during FY 04-05.

Total advances of the bank also recorded a growth of 32.21 per cent to touch Rs 12,063.16 crore as against Rs 9,124.50 crore recorded during FY 04-05.

As of March 2006, bank's retail advances to housing was Rs 1,323.43 crore (growth of 52.02 per cent over the previous year), educational loans Rs 123.67 crore (56.80 per cent rise), advances to small scale industries at Rs 808.21 crore (up 25.38 per cent), small business finance at Rs 406.43 crore (up 8.54 per cent).

Vivimed net up 119%

Vivimed Labs registered 119 per cent increase in net profit for the quarter ended March 31, 2006, at Rs 2.81 crore as compared with Rs 1.28 crore in the previous corresponding quarter.

Its total revenues during the period increased by 14 per cent to Rs 21.91 crore as compared with Rs 19.19 crore earlier.

For the year ended 2005-06, the company registered 93 per cent increase in net profit at Rs 9.3 crore as compared with Rs 4.81 crore in FY05. Its total revenues surged by 52 per cent to Rs 79.74 crore as compared with Rs 52.43 crore in FY05.

Zen Tech net up 111%

Zen Technologies registered 111 per cent increase in net profit at Rs 7.37 crore for the quarter ended March 2006 as compared with Rs 3.49 crore in the previous corresponding quarter. Net sales increased to Rs 14.48 crore for the quarter from Rs 9.68 crore in the year-ago period, growing 49.5 per cent.

EPS increased to Rs 9.66 from Rs 4.59. For the full year ended March 2006, the company's net profit increased by 11.5 per cent to Rs 7.16 crore as compared with Rs 6.42 crore for 2004-05.

Net sales rose 6.4 per cent to Rs 20.23 crore from Rs 19.01 crore last year. EPS increased to Rs 9.39 from Rs 8.42. The board has recommended a dividend of 20 per cent on equity shares of face value of Rs 10 each for the year ended March 2006.