Jan 31 (PTI): Bajaj Auto Ltd has posted a 35 per cent rise in its net profit at Rs 181.1 crore for the third quarter ended December 31, 2003 as against Rs 134 crore in the same period last fiscal. The sales for the reporting quarter grew by 17 per cent at Rs 1,489.7 crore as against Rs 1,273.5 crore in October-December 2002, the company said in a release today.

The staff cost in the third quarter included Rs 8.27 crore paid under the voluntary retirement scheme to employees as against Rs 19.3 crore in the same period last year, it said.

Exports during the third quarter rose by 42 per cent to Rs 158.8 crore (Rs 112.1 crore) and for nine months they were Rs 415.9 crore (Rs 257.6 crore).

The net profit and sales income for nine months ended December 31, 2003 stood at Rs 535.5 crore (Rs 387.8 crore in April-December 2002) and Rs 4,125.1 crore (Rs 3,659.3 crore) respectively, it said.

Britannia net rises

Britannia Industries Ltd today reported an increase of 6.77 per cent at Rs 26.8 crore in its net profit from October to December as against Rs 25.1 crore during the corresponding period last year. The company also reported sales of Rs 368 crore for the third quarter, an increase of 10.84 per cent over Rs 332 crore in the third quarter in 2002, a Britannia statement said.

GTB posts lower net

Global Trust Bank (GTB) has earned a net profit of Rs 11.76 crore for the nine-month period ended December 31, 2003 compared with Rs 28.20 crore in the corresponding period of the previous fiscal year.

The board of directors of the bank approved the unaudited accounts for the third quarter and the nine-month period at its meeting held in Hyderabad today.

Commenting on the results, GTB managing director Sudhakar Gande said the bank has its inherent strengths intact and once the capital infusion was over, we will focus on growth.

He said the bank will regain its glory and long and short term growth plans are afoot.

Glenmark net up 19%

Glenmark Pharmaceuticals Ltd has reported a 19 per cent rise in net profit at Rs 10.75 crore for the third quarter ended December 31, 2003, compared with Rs 9.05 crore posted in the same period of the previous fiscal.

Sales in the period under review also increased to Rs 102.66 crore as against Rs 78.83 crore registered in the third quarter of 2002-03.