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The state-owned lender will be in focus on receipt of board approval to raise Rs 12 billion via follow-on public offer (FPO) or qualified institutional placement (QIP) issue of equity shares. Meanwhile, the lender's net profit slipped 31.9% on higher provisioning and operating expenses.
Net profit dropped to Rs 351.4 million in the three months ended Mar 31 from Rs 516 million in the corresponding period a year ago, Andhra Bank said in a statement to the stock exchanges on Tuesday after market hours.
Capital First Ltd:
PE giant Warburg Pincus is expected to sell around 10% stake in consumer lender Capital First via block deal on Wednesday, according to reports. Warburg owned 61.1% in Capital First as on December 31, 2016.
Central Bank of India:
Central Bank of India, the state-owned lender, will be in focus after it trimmed net loss to Rs 5.92 billion during the fiscal-fourth quarter ended March 2017 on improved recovery, even though bad loans soared. The lender had reported a net loss of Rs 8.98 billion for the same quarter ended March 2016.
Dhanlaxmi Bank Ltd:
Dhanlaxmi Bank Ltd., private sector lender, will be in focus after it reported a profit of Rs 90 million for the Jan-Mar quarter of last fiscal as it managed to rein in non-performing assets. The lender registered a loss of Rs 1.32 billion for the fourth quarter of the previous fiscal, 2015-16.
JK Paper Ltd:
The company on Tuesday posted an over three-fold increase in net profit at Rs 563.2 million for the fourth quarter ended March 31, 2017 on back of highest sales. The company had posted a net profit of Rs 148.9 million in the corresponding quarter of last year.
Polaris Consulting Ltd:
The company on Tuesday said it posted a consolidated net profit of Rs 329.2 million for the fourth quarter ended March 2017. The Chennai-based company had posted a net loss of Rs 184.8 million in the year-ago period.
Sobha Ltd., the real-estate developer, will be in focus after it reported 70% increase in consolidated net profit at Rs 470 million for the quarter ended March. Its net profit stood at Rs 276 million in the year-ago period, the Bengaluru-based firm said in a statement to exchanges on Tuesday after market hours.
Tata Steel Ltd:
Tata Steel Ltd., the privately owned largest integrated steel maker, will be in focus after its losses narrowed in the quarter ended March 31, to Rs 11.68 billion down from Rs 30.42 billion in the corresponding quarter last year on the back of a one-time non-cash pension curtailment charge.
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