Mumbai: HDFC Bank Ltd said its net profit for the 2007 first quarter arose 34.3 per cent, hiked up by higher credit expansion that held up ascending interest rates.

Net profit for the April-June period ascended to Rs 321 crore from Rs 239 crore a year earlier.

Total income rose 47.2 per cent to Rs 2,642 crore from Rs 1,795 crore.

HDFC Bank was incorporated in August 1994 and started processes as a Scheduled Commercial Bank in January 1995. As on March 31, 2007, it had a nationwide network of 684 branches and 1605 ATM's in 316 Indian towns and cities.

The South Indian Bank has posted its 1st Q results of FY08.

HDFC Bank declined 1.15% to Rs 1154.70 in afternoon trading in spite of reporting 34.24% increase in net profit in Q1 June 2007.
The quarterly outcomes were declared during the market hours today 10 July 2007.

The scrip hit an intraday high of Rs 1185.95 and an intraday low of Rs 1145.60 during the day. On 28 May 2007, it has had its 52 week high of Rs 1274 and a 52 week low of Rs 693.10 on 19 July 2006.

Development finance company

Akruti Nirman has announced its fourth quarter results. The company has recorded net profit of Rs 57.18 crore for its fourth quarter ended June 30, 2007, as against Rs 571.8 million in the corresponding period of the last year.

The company posted net sales of Rs 92.68 crore as compared to Rs 926.8 million in the same period of the last year..

In afternoon trade, IFB Industries beat the upper route of 20% at Rs 27.65 on reporting a 1,143.27% increase in net profit in Q4 March 2007. The final results were declared during the market hours.
During the day, the scrip touched an intraday high of Rs 27.65 and an intraday low of Rs 26. On 3 November, it touched a 52-week high of Rs 29.95 and a 52-week low of Rs 14.50 on 4 April 2007.
The IFB Industries scrip gained 32.47% over the last one month to 29 June 2007 as compared to the Sensex’s return of 0.73%. Over the last one quarter, the company outperformed the market gaining 34.40% as compared to the Sensex’s admiration of 12.07%.