UCO Bank Net Up marginally

UCO Bank posted a marginal increase of 0.42 percent in net profit during the first quarter of the current fiscal at Rs.1.33 billion, against Rs.1.32 billion over the same period last year.

Announcing the first quarter results Saturday, bank chairman-cum-managing director S.K. Goel said: "Deposits increased by 24.07 percent and advances by 29.26 percent. The total business of the bank stood at Rs.1.34 trillion with deposits at Rs.782.35 billion and advances at Rs.557.25 billion at the end of June, 2008."

The total business of UCO Bank grew by 26.18 percent in the April-June quarter compared to the corresponding period of the previous fiscal.

The board of directors of the bank approved the proposal to float a subsidiary within the next six months for its fee-based operations.

TCS Q1 net rises to Rs 1,290.61 crore

Tata Consultancy Services reported a very good growth in its net profit for the first quarter ( TCS Q1 )results ended June 2008. During this first quarter, the profit of the company rose to 12.12% which was in rupees 12,040.10 million from Rs 10,738.50 million in the same quarter, previous year.
The company posted earnings of Rs 12.30 for a share during the first quarter, which is 12.12% growth rate over last year period.
Net sales for the first quarter of Tata consultancy services rose 24.69% to Rs 52,120.00 million, while total income for the quarter rose 22.74% to Rs 53,218.80 million, when compared with the prior year period prices.