|
|
|
Home
>>
Media Room >> News Clippings
| Business Standard |
25th July 07
|
PNB Gilts net up at 14.28 cr
New Delhi: PNB Gilts has reported a Rs. 14.28 crore net profit in the first quarter of the current financial year compared with Rs. 15.50 crore loss in the same quarter of the previous financial year. The total secondary market turnover of the company during the quarter doubled to Rs. 11,544 crore against Rs. 5,400 core in the same quarter last year |
| Mint |
22nd April 2008
|
PNB Gilts Ltd profits zooms by 309%
New Delhi: PNB Gilts Limited, a leading primary dealer in the government securities market has posted excellent results for the financial year 2007-08. As per the published results profit before tax has zoomed from Rs. 16.38 crore in the previous financial year to Rs. 67.01 crore, an increase of 309%.
Due to higher tax incidence, profit after tax has increased from Rs. 15.96 crore in FY 2006-07 to Rs. 45.16 crore in FY 2007-08. The increase in profits comes in the face of tough conditions in the debt market, wherein benchmark yields pulled up by almost 38 basis points in the last month of the financial year itself, on the back of higher inflationary concerns. The company has also continued to fulfill all its obligations as a primary dealer both in the primary and secondary market.
The Board has recommended a final dividend of 15% or Rs. 1.50 per share with face value of Rs. 10 subject to approval by shareholders in the Annual General Meeting.
The excellent performance of the company during the year was made possible by increase in income while reducing overall expenses. The company achieved a 37% growth in total income at Rs. 172.63 crore (Rs. 126.14 crore last year), while the total expenses declined by 4% to Rs. 105.62 crore (Rs. 109.76 crore last year).
The company’s good performance has been a result of reorientation of the trading strategy and risk management systems to respond optimally to the emerging environment. The total turnover of the company during the year amounted to Rs. 59,868 crore compared to Rs. 33,745 crore last year.
The company also strengthened its fee-based business like, Project appraisal, Loan syndication and Mutual Fund distribution.
|
|
|
|
|
|
|
|
|
Press
Releases 
News
Clippings 
