State Bank of India Net Rises 3%, Bombay Dyeing Net Loss Widens

Mukesh Buch
08 Aug, 2014
New York City

Bombay Dyeing net loss widened. Finolex Cables profit and revenue climbed on higher prices. M&M net jumped 4% despite sluggish sales. Nestle India profit climbed 6% on 10% increase of revenue. SBI net rose 3%. Vardhman Textiles net dropped.

[R]6:00 PM Mumbai – Bombay Dyeing net loss widened. Finolex Cables profit and revenue climbed on higher prices. M&M net jumped 4% despite sluggish sales. Nestle India profit climbed 6% on 10% increase of revenue. SBI net rose 3%. Vardhman Textiles net dropped.[/R]

The Sensex Index dropped 259.87 or 1% to close at 25,329.14 The CNX Nifty fell 22.80 to 7,649.25. For the week, Sensex slipped 0.6%.

Gainers & Losers

Bombay Dyeing & Manufacturing Company plunged 7.8% to Rs 66.85 after the company reported net loss in the first-quarter widened to Rs 53.63 crore compared to Rs 27.57 crore and net sales jumped 5% to Rs 542.09 crore.

Corporation Bank declined 4.8% to Rs 335.45 after net profit in the first-quarter plunged 38.8% to Rs 231.46 crore and total revenue climbed 7.5% to Rs 5,215.02 crore.

As of June, ratio of gross non-performing assets to gross advances jumped to 3.96% compared to 2.37% a year ago period.

Finolex Cables Ltd fell 0.9% to Rs 200.85 after net profit in the first-quarter rose 2.2% to Rs 34.68 crore and sales jumped 3.3% to Rs 567.31 crore.

Gujarat State Petronet Ltd rose 0.2% to Rs 85.60 after net profit in the first-quarter declined 32.7% to Rs 85 crore and net sales plunged 22.2% to Rs 230.44 crore.

Mahindra & Mahindra Limited slipped 1.4% to Rs 1,229.10 after net profit in the first-quarter jumped 4.3% to Rs 896.40 crore and gross revenue increased 2.9% to Rs 19,919 crore.

Nestle India Limited fell 0.8% to Rs 5,360.80 after net profit in the first-quarter climbed 6.07% to Rs 287.86 crore and total revenue soared 9.7% to Rs 2,455.09 crore.

State Bank of India slid 0.9% to Rs 2,415.25 after net profit in the first-quarter rose 3.3% to Rs 3,349.08 crore and total revenue climbed 12.6% to Rs 40,739.21 crore.

Vardhman Textiles Limited plummeted 8.9% to Rs 441.55 after net profit in the first-quarter tumbled 26.4% to Rs 106.27 crore and total sales surged 19.2% to Rs 1,445.07 crore.