Federal Bank was immensely helped by the sharp rise in other income and lower interest income to approximately double its net profit for the third quarter ending December 31, 2009 to Rs 203.89 cr from Rs 102.92 cr the previous fiscal.

The net profit of the bank had a rise by 45.67% to Rs 386.32 crore for the nine month ended December 31.

There was an increase by 94% to Rs 164.81 cr from Rs 84.95 cr the previous year in the other income of the bank for the quarter while an increase by 35.11% was noted in the interest income.

A quite bigger than expected quarterly loss was posted by the world number three mobile phone maker Sony Ericsson and the company also informed regarding its plans for further cost cuts, possibly including jobs, as it braced for even weaker demand.

It was reported by President Dick Komiyama that this year will see shrinkage of global demand by at least 5 percent. It was further informed by him that market share was less of a main concern than preserving profitability.

A 262 million Euro ($346 million) pretax loss in the three months to end-December was made by Sony Ericson. A profit of 501 million was registerd a year earlier with Ericsson and Sony venture.

Automobile giant, Bajaj Auto posted 22.43 per cent decline in net profit for the quarter ended December 2008. Its net profit stands at Rs 166 crore as against Rs 214 crore in the same period last year.

Decline in vehicle sales and tight liquidity conditions contributed to the decline in profit for the quarter under consideration.

Company's turnover declined 15.84 percent and currently stands at Rs 2,141 crore. It sold 493,748 units of vehicles with 31 per cent decline as compared to 713,135 units sold in the same period last year.

Tata Consultancy Services (TCS) posted 2.7 per cent increase in its net profit for the quarter ended December 31, 2008. Its net profit stood at Rs 1,362 crore for the reporting quarter as compared to Rs 1,327 crore in the same quarter last year.

TCS CEO and Managing Director, S. Ramadorai said, "In tough market conditions, TCS continues to perform in a stellar fashion, driving revenue growth through our diversified market presence and boosting our operational profitability by conserving costs and creating efficiencies."

Federal Bank has posted a net profit of Rs 203.89 crore for the third quarter (Q3) ending December 31, 2009, as against Rs 102.92 crore during the corresponding period of the last year (December 2007).

The Kerala-based bank said that a sharp increase in other income and lower interest income helped it to post nearly two-fold increase in its net profit.

The bank said, “The figures for the corresponding previous periods are not reclassified and therefore not comparable.”

Telecom infrastructure company, GTL infrastructure posted a net loss of Rs 1.4 crore in third quarter ended December 31, 08, which is less than total losses suffered by the company in the same period last year. The company had posted a net loss of Rs 16 crore in the third quarter last year.

Tax provisions and tight financial conditions impacted its business leading to decline in net profit. However, the company expressed satisfaction over its performance and said that it would chalk out new business strategy to improve its working efficiency.