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Corporate News

 Sobha Developers has reported a 73% growth in its Q1FY’13 net profit at `45 crore over the corresponding figure a year ago. Fur-ther, the company's consolidated net sales grew higher than expected by 55.8% YoY to `432 crore during Q1FY’13. However, sales dropped by 17.24% QoQ.
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 NHPC Ltd. posted a 15.3% decline in its net profit at `670.0 crore during the quarter ended June 2012. Total income of the com-pany fell by 3.3% YoY to `1,421.8 crore.
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 IDBI bank Ltd. has launched IDBI Samriddhi, an online portal to help individual as well as institutional investors in investing the certificate of deposits issued by IDBI Bank. The bank has launched this portal so as to increase transparency, enhance efficiency and to reach a wider investor base.
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 EIH Ltd., the hospitality major witnessed a 38.83% decline in its net profit at `9.45 crore for the quarter ended June 30, 2012 due to decline in sales. Total income of the company further declined by 1.86% to `241.95 crore for the quarter under consideration from `246.55 crore for the same period year ago.

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