FINANCIAL SERVICES INDUSTRY PAT DOWN 60%
Article Abstract:
Association of Leasing & Financial Services Companies (ALFS) has conducted a study on 220 financial services companies of India for three years from 1995 to 1997. The study was compiled by the Centre for Monitoring Indian Economy (CMIE). The study has stated that the net profit of the financial services industry has declined by 60 percent in 1996-97. The share of revenue from leasing and hire purchase has increased from 53 percent in 1995- 96 to 58 percent in 1996-97. The share of the securities and investments have decreased to 4 percent of total income from 8 percent in this same period. The revenue from services has moved up by 50 percent from 0.8 percent of the total income to 1.2 percent in 1996-97. The interest charges have moved up by 25 percent in 1996-97 and tax provisions have increased by 72 percent. The average earnings per share has declined by 66 percent in 1996-97 to Rs1.60 from Rs4.80 in 1995-96. (rk)
Comment:
India: Net profit of the financial services ind declines by 60% in 1996-97, says Leasing & Financial Svcs Assn
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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LGF'S PAT RISES 30%, DIVIDEND UP BY 5%
Article Abstract:
Lakshmi General Finance Ltd, a part of Sundaram Finance, posted 30 percent rise in its net profit at Rs13.68 crore in 1997-98 (Rs10.52 crore in 1996-97). It has declared a dividend of 45 percent (40 percent in 1996-97). Its gross disbursements were Rs206.75 crore (Rs197.46 crore). Its gross receivables were Rs385.87 crore (Rs352.67 crore). Its gross income was Rs83.68 crore (Rs71.23 crore). Its other income was Rs3.58 crore (Rs2.66 crore). (gs)
Comment:
Posts 30% rise in its net profit at Rs13.68 crore in 1997-98 vs Rs10.52 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICICI NET DIPS BY 6.3%
Article Abstract:
ICICI Limited has posted a 6.3 percent fall in its net profit to Rs208 crore during the third quarter of 1998-99 (Rs222 crore during the third quarter of 1997-98). The net profit was stagnant after excluding an extraordinary income of Rs14 crore earned during the third quarter of 1997-98. During the period, the total advances fell by 7.7 percent to Rs6,157 crore (Rs6,676 crore). The total disbursals grew by 25.74 percent to Rs5,299 crore.(ag) (m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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