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ust 28% growth in credit off take for FY07 took banks to new heights. Interestingly, public sector banks outperformed the private sector banks for the first time after a gap of five quarters. The 30 public and private sector banks, which declared their results for the quarter ended March 2007 have posted 37% growth in net profit. Companies in the metals segment too came up with impressive numbers on the back of higher domestic and international metal prices. In 2006, copper prices increased by over 80%, while nickel prices rose by more than 65%, so was the case with other metals. Vedanta Resources met forecasts with a 145% rise in annual core earnings. Ebitda rose to $2.703 billion for FY07, while revenues jumped 76% to $6.5 billion. Tata Steel also posted vigorous set of numbers, as net profit was at Rs.11.03 billion in Q4 versus Rs.7.83 billion, up 40.91% on YoY basis. For FY07, the company has posted a profit of Rs 42.22 billion for the year ended March, 2007, as compared to Rs.35.063 billion in the previous years. The mining and metals sector profited handsomely from a prolonged boom in commodity prices. According to 4Ps B&M calculations, 1,148 companies have published their results so far and have raked in total income worth a staggering Rs.7.7 trillion and eye-popping net profits of Rs.2.4 trillion, an increase of 31% and 40%, respectively over last year.
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ust 28% growth in credit off take for FY07 took banks to new heights. Interestingly, public sector banks outperformed the private sector banks for the first time after a gap of five quarters. The 30 public and private sector banks, which declared their results for the quarter ended March 2007 have posted 37% growth in net profit. Companies in the metals segment too came up with impressive numbers on the back of higher domestic and international metal prices. In 2006, copper prices increased by over 80%, while nickel prices rose by more than 65%, so was the case with other metals. Vedanta Resources met forecasts with a 145% rise in annual core earnings. Ebitda rose to $2.703 billion for FY07, while revenues jumped 76% to $6.5 billion. Tata Steel also posted vigorous set of numbers, as net profit was at Rs.11.03 billion in Q4 versus Rs.7.83 billion, up 40.91% on YoY basis. For FY07, the company has posted a profit of Rs 42.22 billion for the year ended March, 2007, as compared to Rs.35.063 billion in the previous years. The mining and metals sector profited handsomely from a prolonged boom in commodity prices. According to 4Ps B&M calculations, 1,148 companies have published their results so far and have raked in total income worth a staggering Rs.7.7 trillion and eye-popping net profits of Rs.2.4 trillion, an increase of 31% and 40%, respectively over last year.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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