Stock price of the Vijay Mallya-promoted United Spirits witnessed steep decline of 30 per cent in the recent trading at Bombay Stock Exchange. The development came a day after the company announced its financial results for third quarter ended December 31, 08.

The company posted 65.29% decline in its net profit that adversely hit investor's confidence in the volatile market. Experts believe that its revenue may further drop amid tough conditions of financial market.

Zee Entertainment Enterprises Limited (ZEEL) has announced financial results for the third quarter ended December 31, 08. It posted 5 per cent growth rate in revenue which stood at Rs 5,456 million in December. Its year to year revenue posted 27% increase as compared same period last year.

Housing finance giant, HDFC announced financial results for the third quarter of the current financial year. It reported 15 per cent rise in net profit which stands at Rs 542 crore as compared to Rs 471.9 crore in the same quarter last year.

It should be recalled that gain made through the sale of shares in HDFC Standard Life in Q3 of the previous fiscal has not been included while calculating net profit.

Media and entertainment firm Zee Entertainment Enterprises (ZEEL) has announced financial results for the third quarter ended December 2008 reporting 26% decline in its consolidated net profit, which stood at Rs 83.97 crore, as against Rs 113.47 crore for the same quarter, a year ago.

Rising input costs and a slowdown in its advertising revenue growth adversely hit the company’s business for the reporting quarter leading to significant decline in revenue and net profit.
 

While software segment is facing the heat of global slowdown, Polaris Software Lab Limited performed well for the third quarter of current financial year. The company provides application development solutions to banking, finance and insurance sector.

The company posted 94 per cent increase in net profit despite low demand in IT segment and tight liquidity conditions. The board of company has decided to pass 30 per cent dividend to shareholders.

Leading public sector lender Indian Bank has announced its financial results for the third quarter of the current financial year. The bank posted 14 per cent increase in net profit which stands at Rs 350.70 crore as compared to Rs 307.50 in the same period last quarter.

Its total income increased to Rs 2071.37 crore as compared to Rs 1676.00 crore in previous quarter.

The bank said in a filing before BSE, "The additional segments of corporate banking and retail banking have been included for the quarter and for the nine months ended