Tag: profit

SpiceJet soars 15% as net profit jumps five-fold to Rs 107 crore in Q3

SpiceJet soars 15% as net profit jumps five-fold to Rs 107 crore in Q3
Friday, February 24, 2023
Shares of Airline operator SpiceJet moved higher by 15 percent to Rs 40.75 on the BSE in Friday's intra-day trade after the company’s standalone net profit jumped five-fold to Rs 107 crore in the December quarter (Q3FY23). It posted a profit of Rs 23.28 crore in the year-ago quarter (Q3FY22). The profits have been driven by a strong performance in both, passenger and cargo businesses. The company's revenue from operations jumped 2.4 percent to Rs 2,316.8 crore as against Rs 2,262.6 crore in the year-ago period. In Q2 FY23, the company reported a loss of Rs 833 crore on revenue of Rs 1,954 crore. Earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (Ebitdar) stood at Rs 591 crore against a loss of Rs 387 crore in the previous quarter (Q2FY23). Read more

Tata Steel shares decline nearly 4 pc after Q3 loss

Tata Steel shares decline nearly 4 pc after Q3 loss
Tuesday, February 7, 2023
Shares of Tata Steel slipped 5 percent to Rs 112 on the BSE in Tuesday’s intra-day trade on profit booking after the steel major reported a consolidated net loss of Rs 2,502 crore for the quarter ended on December 31, 2022 (Q3FY23), on account of higher expenses. It had posted a net profit of Rs 9,598.16 crore in the year-ago period, the company said in a regulatory filing. Consolidated revenues from operations at Rs 56,757 crore were down 6.2 percent from Rs 60,525 crore in the year-ago period. The earnings before interest, depreciation, tax and amortization (EBITDA) were down 74 percent year-on-year and 34 percent sequentially at Rs 4,154 crore. In the previous quarter, consolidated revenues had stood at Rs 59,512.54 crore and the net profit was Rs 1,514.42 crore. Total expenses during the quarter stood at Rs 57,172.02 crore compared to Rs 48,666.02 crore a year back. Read more

SBI Q3 result: Net profit jumps 68.5% to record Rs 14,205 crore

SBI Q3 result: Net profit jumps 68.5% to record Rs 14,205 crore
Friday, February 3, 2023
State Bank of India (SBI) — the country's largest lender by assets — on Friday reported a 68.5 per cent jump in net profit to a record Rs 14,205.3 crore for the quarter ended December 2022 as against a net profit of Rs 8,432 crore in December 2021. On a quarter-on-quarter basis, the profit rose 7 percent from the PAT of Rs 13,265 crore reported in the September quarter of this financial year. whereas Net Interest Income (NII) jumped 24 percent on the year to Rs 38,068.8 crore. Earlier, Bloomberg had pegged NII for the Oct-Dec quarter at Rs 46,946 crore, and net profit at Rs 13,196 crore. The gross non-performing asset (NPA) ratio fell 136 bps YoY to 3.52 percent for the quarter, while net NPA was 57 bps down to 0.77 percent. Read more

Bajaj Finserv posts 42% growth in Q3 net profit to ₹1,782 crore

Bajaj Finserv posts 42% growth in Q3 net profit to ₹1,782 crore
Monday, January 30, 2023
Bajaj Finserv on Monday posted a 42 percent growth in its profit to ₹1,782 crore for the quarter ended 2022, against ₹1,256 crore in the year-ago period. Total income during the quarter rose 23% to Rs 21,755 crore as compared to Rs 17,620 crore a year ago. Bajaj Finserv is a holding company for a number of businesses under the Bajaj brand including its lending and insurance businesses. Bajaj Finserv recorded healthy growth across its companies despite the higher interest rates scenario in Q3FY23. According to the statement shared with the exchanges, the finance costs of the company went up to ₹3,240.78 crores from ₹2,444.53 crores. Total expenses of the firm surged 17.10 percent to ₹17,336.45 crore from ₹14,370.55 crore in the year-ago period. Read more

Maruti Suzuki Reports Better-Than-Expected Q3 Profit On Strong Passenger Car Demand

Maruti Suzuki Reports Better-Than-Expected Q3 Profit On Strong Passenger Car Demand
Tuesday, January 24, 2023
On the back of strong demand for its passenger cars, Maruti Suzuki India reported a better-than-expected 129.55 percent jump in the quarterly consolidated net profit in the third quarter (Q3FY23) on Tuesday. It reported a significant rise in its net profit at ₹ 2,391.5 crores for the third quarter ended December 2022 (Q3 FY23), which more than doubled as compared to ₹1,041.8 crore in the year-ago quarter. The total revenue from operations came in at Rs 29,057.5 crore, rising 24.96 percent from Rs 23,253.3 crore year-on-year (YoY). Profit growth was driven by higher sales and a fall in raw material costs. The EBIT margin of the company also improved 350 basis points year on year (YoY) to 7.6 percent. Profit margin improved 380 basis points YoY to 8.4 percent Read more

Axis Bank Q3 results: Net profit rises 61.9% to Rs 5,853 crore

Axis Bank Q3 results: Net profit rises 61.9% to Rs 5,853 crore
Monday, January 23, 2023
Axis Bank on Monday reported a 62 percent year-on-year (YoY) surge in net profit at Rs 5,853 crore for the December quarter compared with Rs 3.614 crore in the same quarter last year. The private sector lender's net interest income rose 32 percent year-on-year to Rs 11,459 crore on the back of a strong 15 percent loan growth and an expansion in net interest margins. Provisions dropped to ₹550 crores, as against ₹1,735 crores a year ago. Meanwhile, asset quality improved with the gross non-performing asset ratio declining to 2.5% as of 30 September 2022, from 2.76% a quarter ago and 3.53% a year ago. Demand for credit has rebounded from the pandemic lows and boosted loan growth at banks, with consumers and businesses stepping up spending as the economy revived. Banks have in turn had to jostle for a larger share of deposits. Read more

Infosys Q3: Net profit surges 13% to Rs 6,586 crore, beats estimates; deal wins at $3.3 bn

Infosys Q3: Net profit surges 13% to Rs 6,586 crore, beats estimates; deal wins at $3.3 bn
Thursday, January 12, 2023
India's second top IT company Infosys Ltd announced its earnings for the third quarter ended December 2022 for the current fiscal or Q3 FY23 on Thursday, after market hours. It reported a 13.4 percent rise in its consolidated net profit for the quarter that ended December 2022 at Rs 6,586 crore. The Company reported a net profit of Rs 5,809 crore in the same quarter last year. Its consolidated revenue from operations increased 20.2 percent to Rs 38,318 crore against Rs 31,867 crore in the corresponding quarter last year, Infosys said in an exchange filing. The reported numbers beat estimates. According to a poll of brokerages, consolidated revenue was expected to come in at Rs 37,613 crore, up 18 percent year-on-year (YoY) growth. In comparison, consolidated profit after tax (PAT) was estimated to increase 10.5 percent YoY to Rs 6,418 crore. Read more

Paytm stock gains after management's strong commentary on growth, profitability

Paytm stock gains after management's strong commentary on growth, profitability
Friday, December 2, 2022
Shares of One97 Communications, the parent company of Paytm, on Friday, zoomed more than 7 percent to Rs 543.45 as Dalal Street turned optimistic after the management's strong commentary on growth and profitability.“Management stated that the journey to attain operating profitability (EBITDA before ESOP cost) via consistent margin improvement has exceeded its expectations in the past few quarters,” ICICI Securities, which attended the company’s analyst day meet, said in a note. Meanwhile, the company on Thursday (1 December 2022) informed that at present it makes a net payment margin of 7 to 9 bps of GMV on processing. Of which UPI gives us 3 to 4 bps and other instruments give 15 to 18 bps. "Since UPI is growing faster than other instruments, we expect the blended margin to stabilize at 5 to 7 bps," the company said. Read more

Maruti Suzuki Q2 net profit jumps 333 per cent YoY to Rs 2,061 crore

Maruti Suzuki Q2 net profit jumps 333 per cent YoY to Rs 2,061 crore
Friday, October 28, 2022
The Shares of the country's largest car maker Maruti Suzuki India gained 5 percent and touched 1 year high of Rs 9492.55 today after its net profit jumped by 333 percent to Rs 2061.5 crore in Q2 of FY23 compared to the corresponding period of last year on the back of the resolution of chip supply issues, favorable foreign exchange rates, and highest-ever unit sales. Standalone revenue from operations surged 46 percent YoY to Rs 29,931 crore. The company's market cap is nearly ₹2.87 lakh crore. The company sold a total of 517,395 vehicles during the quarter, the highest ever in any quarter. Sales in the domestic market stood at 454,200 units,” its statement said. Therefore, the company also posted the highest-ever sales revenue of Rs 28,545 crore in Q2 of FY23. Shortage of electronic components impacted production by about 35,000 vehicles during the quarter, the company said. Read more

IEX down 5%, shares fall to a 52-week low

IEX down 5%, shares fall to a 52-week low
Friday, October 21, 2022
Shares of the Indian Energy Exchange (IEX) hit a 52-week low of Rs 134 as they declined 5 percent on the BSE in Friday's intra-day trade amid heavy volumes, after reporting a decline in topline and bottom-line for the September quarter. Indian Energy Exchange (IEX) on Thursday reported nearly a 7 percent fall in its consolidated net profit at Rs 71.20 crore in the September quarter compared to a year ago. The consolidated net profit was Rs 77.38 crore in the quarter that ended on September 30, 2021, a BSE filing stated. The company's revenue fell below the Rs 100 crore mark, declining 13 percent from the same period last year to Rs 95.2 crore. Operating profit or EBITDA declined 17 percent due to weak volumes during the quarter while the margin contracted by nearly 400 basis points to 82.8 percent from 86.1 percent. Read more

Canara Bank Q2 profit jumps 89% to Rs 2,525 cr

Canara Bank Q2 profit jumps 89% to Rs 2,525 cr
Thursday, October 20, 2022
Canara Bank shares gained as much as 4 % on October 20 after it reported an 89 percent jump in net profit to Rs 2,525 crore in July-September (Q2 FY23), beating Street estimates by a wide margin, aided by lower tax costs and healthy net interest income. Higher other income and operating performance also supported profitability with improved asset quality. In the year-ago period, the state-owned lender had reported a net profit of Rs 1,333 crore. The total income also rose to Rs 24,932.19 crore during July-Sep this year against Rs 21,331.49 crore in the same period of 2020-21. According to a regulatory filing, its net interest income - or the difference between interest earned and interest paid - increased 18.5 percent to Rs 7,434 crore compared to Rs 6,273 crore. Non-interest revenue grew 13 % YoY to Rs 4,825 crore in the same period. Net interest margin (NIM), a measure of profitability, of the bank, stood at 2.86 % compared to 2.78 % in the previous quarter and 2.77 % a year ago. Read more

UltraTech Cement's Q2 net profit falls 42% to Rs 759 cr

UltraTech Cement's Q2 net profit falls 42% to Rs 759 cr
Wednesday, October 19, 2022
Aditya Birla group firm UltraTech Cement Ltd on Wednesday reported a 42% decline in its consolidated profit after tax (PAT) at ₹759 crores for the quarter ended September 2022, as against ₹1,310 crore in the year-ago quarter. On a sequential basis, UltraTech's profit was down 52 percent from Rs 1,582 crore in the April-June period. Its revenue from operations rose 15.61 percent to Rs 13,892.69 crore during the quarter under review as against Rs 12,016.78 crore in the corresponding period of the last fiscal. The sharp fall in the net profit was due to higher costs and weak profitability. The cement major’s consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter dropped more than 31% YoY to Rs 1,866.64 crore. The operating margin shrunk by a whopping 914 basis points to 13.4%. Read more

Tata Elxsi dips 15% after Q2 result

Tata Elxsi dips 15% after Q2 result
Tuesday, October 18, 2022
Shares of Tata Elxsi hit a three-month low of Rs 7,204, falling 7.50 percent on the BSE in Tuesday's intra-day trade, in an otherwise weak market. The stock has slipped 15 percent in the past two trading days after the Tata Group company reported a sequential decline in its net profit. The Tata Group firm reported a 39.1 percent rise in net profit at Rs 174.3 crore in Q2, up from a year-ago period of Rs 125.3 crore. However, the earnings fell below market expectations. On October 14, the company said its revenue from operations grew 28 percent year-on-year to Rs 763.2 crore in the September quarter. Profit after tax grew 39.1 percent and the employee mark crossed 11,000 with 1,532 net additions in the quarter. Ebitda's profit margin came in at 29.7 percent. Read more

Federal Bank gains 6 percent, net profit at 704 cr

Federal Bank gains 6 percent, net profit at 704 cr
Friday, October 14, 2022
Shares of Federal Bank surged 6 percent to hit an all-time high of Rs 132.10 on the BSE in Friday’s intra-day trade on heavy volumes after the bank delivered its highest-ever quarterly net profit at Rs 704 crore (up 53 percent year-on-year) in the September quarter (Q2FY23). Net profit in the year-ago period stood at Rs 460 crore. Meanwhile, the lender's net income interest (NII), which is the difference between the interest earned and expended, rose about 19% to ₹1,762 crores from ₹1,479.4 crore year-on-year (YoY). On the other hand, its net interest margin (NIM) improved to 3.30%, higher by 10 bps YoY and 8 bps QoQ. Asset quality of the bank improved as gross non-performing assets (NPA) came at 2.46 percent as compared to 2.69 percent in the preceding quarter. The bank’s net NPA stood at 0.78 percent as against 1.12 percent in Q2FY22. Its provision and contingencies rose to ₹267.8 crores from ₹166 crores on a sequential basis, however, dipped as compared to ₹292 crores in September Read more

Infosys Q2 result profit rises 11% YoY to Rs 6,021 cr

Infosys Q2 result profit rises 11% YoY to Rs 6,021 cr
Thursday, October 13, 2022
IT primary Infosys Ltd on Thursday reported an 11% jump in consolidated net profit at Rs 6,021 crore for the quarter ending September 30, 2022, up 11.1 percent from Rs 5,421 core reported in the same quarter of the previous year. It reported a 23.4 percent YoY jump in consolidated revenue for the September quarter to Rs 36,538 crore as against Rs 29,602 crore in Q2FY22. Numbers were in-line with projections. A poll of analysts had projected a 24 percent year-on-year (YoY) growth in revenue and 11 percent in net profit. Infosys has also announced a share buyback worth Rs 9,300 crore. Under the buyback program, the price will not exceed Rs 1,850 per equity share. The price is 30% higher than the company shares' closing price of Rs 1,422 apiece on Thursday. The IT major will also pay an interim dividend totaling Rs 6,940 crore to the shareholders at Rs 16.5 per equity share. Read more

HCL Tech net profit rises 7% to Rs 3,489 crore in Q2, firm declares Rs 10 dividend

HCL Tech net profit rises 7% to Rs 3,489 crore in Q2, firm declares Rs 10 dividend
Wednesday, October 12, 2022
IT firm HCL Tech on Wednesday reported a 7% rise in consolidated net profit at Rs 3,489 crore for the quarter ending September 30, 2022. It reported a consolidated net profit of Rs 3,259 crore in the year-ago period. Revenue from operations of the company stood at Rs 24,686 crore, clocking a 19.5 percent growth over Rs 20,655 crore last year. Sequentially, revenue rose 5.2 percent quarter on quarter (QoQ) from Rs 23,464 crore. Profit climbed 6.27 percent compared to Rs 3283 crore in the previous quarter. HCL Tech has delivered yet another solid performance this quarter with revenue growing at 3.8% QoQ and 15.8% YoY in constant currency and EBIT at 18% up 93 bps QoQ. Our services business grew 5.3% QoQ and 18.9% YoY in constant currency, led by strong demand for Cloud, Engineering, and Digital services.HCL Tech said it won 11 large deals – 8 in services and 3 in products. The total contract value of new deal wins was at $ 2,384 million, up 16 percent QoQ, up 6 percent YoY. Read more

HDFC Q1 profit jumps 22% YoY to Rs 3,669 crore

HDFC Q1 profit jumps 22% YoY to Rs 3,669 crore
Friday, July 29, 2022
Housing finance major HDFC on Friday posted a 22 percent jump in its standalone profit after tax to Rs 3,669 crore for the June 2022 quarter, compared with Rs 3,001 crore in the corresponding period a year ago. Sequentially, the profit decreased marginally by 0.8 percent from the profit of Rs 3,700 crore reported in Q4FY22. The consolidated Profit After Tax for the quarter ended June 30, 2022, stood at Rs 5,574 crore. Its net interest income (NII) from April-June 2022 stood at Rs 4,447 crore, about 7.8 percent higher than Rs 4,125 crore a year ago.HDFC vice-chairman Keki Mistry said that the full impact of the lending rate hikes undertaken by HDFC is yet to show on the loan book, which kept net interest income low for the quarter. The management said assets under management (AUM) at the end of the June quarter stood at Rs 6.71 trillion, as against Rs 5.74 trillion at the end of Q1FY22. At the end of the March 2022 quarter, HDFC’s AUM stood at Rs 6.54 trillion. Read more

Bajaj Finance Q1 results beats street expectations

Bajaj Finance Q1 results beats street expectations
Wednesday, July 27, 2022
Bajaj Finance on Wednesday reported a 159% jump in consolidated net profit at Rs 2,596 crore for the quarter ending June 30, 2022, beating street estimates. It reported a consolidated net profit of Rs 1,002 crore in the year-ago period.Net interest income (NII) climbed by 48% to ₹6,638 crores in the quarter under review from ₹4,489 crores in Q1 of last year. New loans booked during the quarter grew by 60% to 74.2 lakh as against 46.3 lakh in the corresponding year-ago quarter. Customer franchise stood at 6.03 crore, registering a growth of 20 percent. The company recorded its highest ever quarterly increase in its customer franchise of 27.3 lakh in Q1FY23. The company's assets under management grew by 28% to Rs 2.04 trillion as of June 30, 2022. Loan losses and provisions for Q1FY23 were at Rs 755 crore as against Rs 1,750 crore in Q1FY22. The company holds a management and macro-economic overlay of Rs 1,000 crore, Bajaj Finance said. Read more

SBI Q4 result: Net profit rises 41% YoY

SBI Q4 result: Net profit rises 41% YoY
Friday, May 13, 2022
The country’s biggest state-owned lender State Bank of India on Friday reported a 41.27 percent jump in standalone net profit for the quarter ending March at Rs 9,113.53 crore, up from Rs 6,450.75 crore in the same quarter a year ago, which was below Street's estimate of Rs 9,927.6 crore. The lender also announced a dividend of Rs 7.10 per share. The date of payment of the Dividend is fixed on June 10, 2022. SBI's profit grew 8 percent from Rs 8,432 crore in Q3FY22, driven primarily by a healthy increase in net interest income (NII).SBI's net interest income for the reported quarter came in at Rs 31,198 crore as against analysts' expectations of Rs 31,800 crore. This is 15.26 percent higher than Rs 27,067 crore the company announced last year. Read more

HDFC Q4 net profit rises 16.4% YoY to Rs 3,700 crore

HDFC Q4 net profit rises 16.4% YoY to Rs 3,700 crore
Monday, May 2, 2022
HDFC Ltd today reported a 16.4 percent year-on-year rise in net profit of ₹3,700 crores for the March quarter, Company had reported ₹3,180 crores in the year-ago period, which was above analysts' estimate of Rs 3,306.7 crore. The net interest income (NII) for the quarter stood at Rs 4,601 crore compared with Rs 4,027 crore in the previous year, representing a growth of 14 percent. The Board has recommended a dividend for the year ended March 31, 2022, of ₹30 per equity share. During the year ended March 2022, individual approvals and disbursements grew by 38 percent and 37 percent, respectively compared to the previous year. The average size of individual loans stood at Rs 33 lakh (compared to Rs 29.5 lakh last year). For the quarter ended March 31, 2022, the average loan size was Rs 34.7 lakh. As of March 31, 2022, the assets under management (AUM) stood at ₹6.53 lakh crore as against ₹5.69 lakh crore in the previous year. Read more

Wipro Q4 consolidated net profit rises 4% to Rs 3,087 crore

Wipro Q4 consolidated net profit rises 4% to Rs 3,087 crore
Friday, April 29, 2022
IT Major Wipro Ltd Friday reported a consolidated net profit of ₹3,087 crores for the quarter ended 31 March 2022, up 4% from ₹2,972 crores a year ago. which was in line with analysts' expectations. The Bengaluru-based company's consolidated revenue from operations rose merely 0.3 percent on quarter to Rs 20,860.7 crore for the reported quarter, up 28.4 percent from Rs 16,245.4 crore in the year-ago quarter. “We have had an outstanding year, finishing with $10.4 billion in revenues, and an industry-leading growth of 27% year on year. This is our sixth straight quarter of strong revenue growth at or over 3%," said Wipro CEO Thierry Delaporte. Wipro said it expects revenue from our IT services business to be in the range of $2,748 million to $2,803 million. This translates to a sequential growth of 1% to 3%. Read more

Bajaj Auto Q4 earnings result

Bajaj Auto Q4 earnings result
Thursday, April 28, 2022
Shares of Bajaj Auto dipped over 2 percent in early trade on Thursday after the company reported a 2 percent decline in consolidated net profit for the fourth quarter ended March 2022 as sales in both domestic and export markets were hit by weak demand and semiconductor shortage. The two and three-wheeler makers on April 27 declared a 10.3 percent year-on-year increase in standalone profit after tax (PAT) to Rs 1,469 crore as compared to a profit of Rs 1,332 crore reported in the same quarter a year ago. Domestic and international sales of two-wheelers and commercial vehicles crossed the 4.3 million mark and resulted in a turnover of Rs 34,354 crore in FY22. Total revenue from operations declined to ₹ 7,975 crores during the fourth quarter, as compared with ₹ 8,596 crores in the same period of FY21. The full-year profit for the company has improved 10.2 percent to Rs 5,019 crore from Rs 4,555 crore achieved in FY21. Read more

Bajaj Finance shares fall 6.5 percent after Q4 result

Bajaj Finance shares fall 6.5 percent after Q4 result
Wednesday, April 27, 2022
Shares of Bajaj Finance dropped 6.63 percent to Rs 6,758 apiece on the BSE in Wednesday’s intra-day trade despite registering strong growth in net profit by 80 percent year on year (YoY) at Rs 2,420 crore for the fourth quarter due to higher net interest income and lower provisions. that ended in March 2022 (Q4FY22).as analysts remained mixed on the company’s future prospects. Bajaj Finance’s net interest income (NII) surged 30 percent y-o-y to Rs 6,068 crore in the March quarter. The company said it was its highest ever consolidated net profit. It also reported the highest ever consolidated profit after tax of Rs 7,028 crore for the fiscal year ended March 2022. The other large component of its revenues was in the form of fees and other income of Rs 1,164 crore, up 51 percent from the same period last year. While asset under management (AUM), portfolio composition, and digital transformation will remain key drivers for the stock, premium valuation, and elevated costs may cap upside. Read more

Mahindra CIE gains 13% on strong Q`1 profit

Mahindra CIE gains 13% on strong Q`1 profit
Tuesday, April 26, 2022
Shares of Mahindra CIE Automotive surged 13 percent to Rs 225 on the BSE in Tuesday’s intra-day trade, after the company posted a consolidated net profit of Rs 161.42 crore for the first quarter ended March. The company had reported a consolidated net profit of Rs 10.09 crore in the year-ago period. The company, which follows January-December financial year, said revenue from operations rose to Rs 2,588.36 crore, up from Rs 2,189.4 crore in the January-March period of the previous year. The board of the Pune-based firm has also recommended a final dividend of Rs 2.5 per share of Rs 10 each for the financial year ended December 31, 2021. The stock rallied 20 percent in the past two trading days. The management also remains positive on two-wheeler and tractor segments after a weak show in the last quarter. Mahindra CIE's Indian operations plan to make use of these opportunities and grow faster than underlying market segments. Read more

HCL Technologies gains 3 percent after Q4 result

HCL Technologies gains 3 percent after Q4 result
Friday, April 22, 2022
Shares of HCL Technologies Ltd jumped about 3% at ₹1,135 apiece in Friday's early deals on the BSE after the IT company reported a nearly 24% jump in its Q4 net profit at ₹3,593 crores compared to Rs 1,102 crore reported in the corresponding quarter a year ago. whereas revenue for the March quarter rose 15% from a year earlier to ₹22,597 crores as against Rs 19,642 crore reported in the year-ago period. On a sequential basis, revenues increased 1.2 percent in comparison with Rs 22,331 crore reported during the previous quarter. Due to the impact of deferred tax credit and the one-time milestone bonus paid during Q4FY21, the adjusted net profit during the same period last year stood at Rs 2,962 crore. The adjusted profit after tax for the quarter grew 21.3 percent year on year. It also declared an interim dividend of Rs 18/- per equity share of Rs.2/- each with a record date of April 29, 2022. Read more

Sunpharma Q3 profit up 11 percent

Sunpharma Q3 profit up 11 percent
Monday, January 31, 2022
Shares of Sun Pharmaceutical Industries Ltd gained 2.5 percent on January 31 after the company reported an 11% rise in its consolidated net profit to Rs 2,058.80 crore in the December quarter. The pharma major had reported a net profit of ₹1,852 crores in the December quarter of last year. Consolidated net sales for the quarter increased 11.41% from a year ago to Rs 9,814.17 crore. Total cost advanced 12% to Rs 7,829.38 crore. The company's board has also declared an interim dividend of ₹7 for the financial year ending on March 31, 2022. Operating EBITDA margin declined sharply to 17.12% in the quarter from 20.43% a quarter ago and 20.97% a year ago. The sale of formulations in the domestic market during the third quarter was at ₹3,167 crores, up by 15% over last year and accounting for 32% of total sales. Read more

Maruti Suzuki Q3 Results

Maruti Suzuki Q3 Results
Tuesday, January 25, 2022
The country's largest carmaker Maruti Suzuki India reported a 48 percent decline in consolidated net profit to Rs 1,011 crore for the December 2021 quarter, against a profit of Rs 1,941.4 crore in the same quarter last year, mainly due to the ongoing semiconductor shortage and increase in commodity prices. Analysts had expected Rs 1,058 crore. The consolidated revenue from operations declined marginally to Rs 23,253.3 crore in the third quarter, compared to Rs 23,471.3 crore a year ago, it added. The preceding quarter saw the topline at Rs 20,538 crore. The company said despite cost reduction efforts, due to lower sales volume, high commodity prices, and lower non-operating income on account of mark-to-market impact, its profits were comparatively lower. Operating Ebit margin came in at 4.1 percent in Q3FY22 against 6.7 percent in Q3FY21. The profit margin was at 4.6 percent against 8.7 percent in the same quarter last year. Read more

HUL reported a 17% jump in net profit at Rs 2,243 crore for Q3

HUL reported a 17% jump in net profit at Rs 2,243 crore for Q3
Thursday, January 20, 2022
Hindustan Unilever today(20th January 2022) reported a 17% jump in net profit at Rs 2,243 crore for the quarter ending December 31, 2021, as it gained market share in both urban and rural areas as India emerged from coronavirus-related lockdowns. It posted a net profit of Rs 1,921 crore in the year-ago period. Growth in the quarter was competitive and profitable with domestic consumer growth of 11%. Business fundamentals remained strong with handsome market share gains in all our divisions, both urban and rural markets and across price segments. Underlying volume growth at 2% was significantly ahead of the market, the company said in a stock exchange filing. Read more

Siemens plunges nearly 8% post Q4 earnings.

Siemens plunges nearly 8% post Q4 earnings.
Thursday, November 25, 2021
Shares of Siemens dipped 8 percent to Rs 2,099 on the BSE in Thursday’s intra-day trade on profit booking after the company reported 250 basis points (bps) decline in earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 10.4 percent in September quarter (Q4FY21) as against 12.9 percent in Q4FY20 impacted by higher other expenses, gross margins. Siemens' Q4 (July-September) net profit was down 7.2% at Rs 330.9 crore versus Rs 356.7 crore in the same period last fiscal. The company’s disappointing performance in the quarter gone by was primarily on account of a rise in costs of raw materials and logistics, a BSE filing on Wednesday showed. Its revenue was up 21.1% at Rs 4,296.1 crore versus Rs 3,546.8 crore YoY. The company has recommended a dividend of Rs 8 per equity share of Rs 2 each (400 percent) for the Financial Year ended September 30, 2021. Read more

Hindalco Q2 Consolidated PAT surges 783% to Rs 3,417 cr

Hindalco Q2 Consolidated PAT surges 783% to Rs 3,417 cr
Friday, November 12, 2021
Hindalco Industries, the metals flagship company of the Aditya Birla Group on Friday reported a 783 percent year-on-year (YoY) rise in consolidated net profit at Rs 3,417 crore, for the September quarter (Q2FY22), when compared with ₹387 crores in the corresponding quarter of last year. On a sequential basis, consolidated PAT increased by 23 percent consolidated revenue for the second quarter stood at Rs 47,665 crore (vs Rs 31,237 crore), up 53% YoY. The revenues in this quarter are up 15 percent against Rs. 41,358 crore was reported in the previous quarter. The company has also posted its all-time high Consolidated EBITDA (Earnings before interest, tax, depreciation, and amortization) at ₹8,048 crores, up 56% year-on-year. Read more

Alembic Pharma share price falls 5% after quarter results

Alembic Pharma share price falls 5% after quarter results
Thursday, November 11, 2021
Alembic Pharmaceuticals' share price fell over 5 percent intraday to Rs 757 after the company reported a weak set of numbers for the quarter ended September 2021. The company's consolidated profit declined 49 percent year on year (YoY) at Rs 169 crore in the September quarter (Q2FY22), due to lower revenue. The pharmaceutical company had posted a profit of Rs 333 crore in the year-ago quarter. The revenue was down 11.3% at Rs 1,292.32 crore versus Rs 1,457.10 crore, YoY. The US revenue declined 40 percent to Rs 348 crore on a YoY basis. However, India's business grew 23 percent to Rs 509 crore over the previous year's quarter. Earnings before interest, tax, depreciation, and amortization (EBITDA) were down 42 percent at Rs 257.2 crore versus Rs 443.5 crore and the margin was down at 19.9% versus 30.4%, YoY. The management believes the current US sales figures ($47 million per quarter) are the new base, and these are expected to improve hereafter, led by new launches. Read more

Mahindra & Mahindra gains after September Quarter Profit rises to Rs 1432 crore

Mahindra & Mahindra gains after September Quarter Profit rises to Rs 1432 crore
Tuesday, November 9, 2021
Shares of Mahindra & Mahindra (M&M) gained 5 percent to Rs 905 after the company's Net profit rose 785.15% to Rs 1431.73 crore in the quarter ended September 2021 as against Rs 161.75 crore during the previous quarter ended September 2020 due to a low base but the operating performance was hit by higher input prices. The company's revenue grew 15 percent year-on-year (YoY) to Rs 13,305 crore during the quarter under review, while earnings before interest, tax, depreciation, and amortization (EBITDA) declined 19 percent to Rs 1,660 crore. The company said it sold 99,334 vehicles during the period under review, up 9 percent from 91,536 units in the second quarter of last fiscal. On a consolidated basis, the Mahindra Group reported a PAT of Rs 1,929 crore as compared with Rs 615 crore in the Q2 of 2020-21.M&M said its auto business continues to maintain a strong booking pipeline for its key products. Read more

MARKET UPDATE: Sensex at 60,531 levels, down 14 points, and Nifty unchanged at 18,068 levels

MARKET UPDATE: Sensex at 60,531 levels, down 14 points, and Nifty unchanged at 18,068 levels
Tuesday, November 9, 2021
Indian benchmark indices started flat, with a negative bias, today(9th Nov.2021) amid profit booking in financial, metals, and FMCG space. In early deals, the 30-pack Sensex index was at 60,531 levels, down 14 points or 0.02 percent. Its NSE counterpart, Nifty50, meanwhile, was unchanged at 18,068 levels. Divi's Labs, ONGC, M&M, Hindalco, and Tata Motors were the top-performing stocks on the 50-share index while Britannia, HDFC, HDFC Bank, Infosys, and Power Grid were the top laggards. On the contrary, the MidCap and SmallCap indices on the BSE were up 0.6 percent and 0.4 percent, respectively. Among individual stocks, TVS Motor Company surged 10 percent in the mid-cap space amid reports that the company is evaluating the possibility of a fund raising exercise for its Electric Vehicle business. Read more

SBI Q2 profits jumps 67 percent to ₹ 7,627 Crore

SBI Q2 profits jumps 67 percent to ₹ 7,627 Crore
Wednesday, November 3, 2021
The country’s largest lender State Bank of India (SBI) on Wednesday reported a 67 percent year-on-year (YoY) jump in net profit at Rs 7,627 crore in the July-September quarter (Q2FY22), with easing asset quality pressure and fall in provisions & credit cost.SBI's net profit in the second quarter of the current financial year jumped 67 percent to ₹ 7,627 crores from ₹ 4,574.16 crores during the same quarter last year. The bank's earnings were better than estimates as analysts polled by Reuters expected SBI to report a net profit of ₹ 7,182 crores.Net interest income of the lender jumped 10.6 percent YoY to Rs 31,184 crore during the quarter under review. The domestic net interest margin of the lender stood at 3.50 percent in Q2FY22, up 16 bps YoY.SBI has incurred an exceptional item during the second quarter after it fully provisioned ₹7,418 crores on account of a change in family pension rules, even as the regulator granted dispensation to amortize in 5 years. Read more

Sun Pharma Q2 Results : Profit Rises 13% In September

Sun Pharma Q2 Results : Profit Rises 13% In September
Tuesday, November 2, 2021
Shares of the country's leading drug maker - Sun Pharma on Tuesday reported a 13 percent year-on-year (YoY) rise in consolidated net profit to Rs 2,047 crore, compared to Rs 1,813 crore reported in the same quarter in 2020. which was sharply above analysts’ expectations. Strong operating performance and healthy revenue growth supported the bottom line during the quarter. Analysts had expected the company to report a consolidated net profit of Rs 1,698.7 crore and revenues of Rs 9,443.4 crore for the reported quarter. Consolidated revenue came in higher at Rs 9,626 crore for the quarter, compared to Rs 8,553 crore in September 2020 quarter, registering a 12.5 percent growth. Sun Pharma's India sales jumped 26 percent to ₹ 3,187 crores while its sales in the US came in at $361 million, up 8 percent annually. Sun Pharma's EBITDA also known as operating profit came in at ₹ 2,560.8 crores, up 21 percent over Q2 last year, with a resulting EBITDA margin of 26.8 percent. Read more

MARKET UPDATE: Sensex at 60,118 levels, down 21 points,while at 17,923, down 6 points

MARKET UPDATE: Sensex at 60,118 levels, down 21 points,while at 17,923, down 6 points
Tuesday, November 2, 2021
Profit-booking in metals, pharma, and select market heavyweights like Reliance Industries, HDFC, ITC, SBI, and Tech M has brought the benchmark indices off highs today(2nd Nov.2021) At 10:10 AM, the Sensex index was at 60,118 levels, down 21 points, while the Nifty50 was at 17,923, down 6 points. In the broader market, however, the BSE MidCap index was up 0.4 percent and the BSE SmallCap index was up 0.8 percent. Sectorally, shares of the companies engaged in the Shipping business were rallying on the bourses after data showed exports in the month of October surged over 40 percent. Shreyas Shipping rallied over 13 percent in the intra-day trade, followed by GE Shipping Corp (4 percent), and SCI (3 percent). The Nifty Healthcare index was down 1 percent with Sun Pharma falling over 3 percent, Dr. Reddy's Labs (1.5 percent), and Dr. LalPath Labs (1 percent). In the currency markets, the rupee opened at 74.85 per US dollar compared with Monday's close of 74.87/$.

IRCTC tanks nearly 50 per cent from record high. Should you buy

IRCTC tanks nearly 50 per cent from record high. Should you buy
Wednesday, October 20, 2021
Indian Railway Catering & Tourism Corp (IRCTC) stock tanked nearly 50 percent in two days after touching a record high of Rs 6396 on account of profit booking. It declined 18 percent to hit an intraday low of Rs 4371.25 on the Bombay Stock ExchangeThe market capitalization of the Indian Railway Catering and Tourism Corporation has declined to Rs 69,936 crore in intra-day trade today. It touched Rs 1.02 lakh crore in intra-day trade on Tuesday and has been included among nine stocks/securities under futures and options (F&O) ban for trade by the National Stock Exchange (NSE) on Wednesday, October 20, 2021. On this speculation, investors started squaring up their positions and booked profits in the stock. In the past six months, the market price of IRCTC has appreciated by nearly 300 percent from the level of Rs 1,612, as compared to a 30 percent rally in the S&P BSE Sensex during the same period till yesterday. Read more

Infosys Quaterly Result

Infosys Quaterly Result
Wednesday, October 13, 2021
The country's second-largest IT services company Infosys reported consolidated profit at Rs 5,421crore in the quarter ended September 2021 quarter, up 12 percent year on year. It was ₹4,845 crores in the year-ago period and sequentially grew by 4.3 percent from ₹5,195 crores in the June quarter. Revenue for the quarter was up 20 percent at Rs 29,602 crore, from Rs 24,570 crore in the year-ago period. The company has revised the revenue guidance for FY22 to 16.5%-17.5% but retained the margin guidance at 22%-24%. The Board has also approved an interim dividend of ₹15 per equity share.“Our stellar performance and robust growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings,” said Salil Parekh, CEO at Infosys in a press statement. Parekh said that the continued momentum in the business has given Infosys the confidence to raise its guidance for growth in revenues in 2021-22 to 16.5-17.5 percent from 14-16 percent earlier Read more

MARKET UPDATE:Profit taking pulls benchmarks off record highs;BSE Sensex down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 mark

MARKET UPDATE:Profit taking pulls benchmarks off record highs;BSE Sensex down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 mark
Thursday, September 16, 2021
Indian benchmark indices After hitting fresh record highs in opening trade witnessed some profit-taking and turned flat. The BSE Sensex was down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 marks. It was trading flat at 17,520. Shares of FMCG major ITC witnessed a sharp rally and was the major index contributor. On the other hand, index heavyweights Infosys, TCS, HDFC Bank, and RIL were the top drags. Sectorally, the FMCG index gained the most, up 1.5 percent. The banking, auto, and realty sector were among other gainers.

Midcap and Smallcap stocks down;24 stocks freeze at lower circuits

Midcap and Smallcap stocks down;24 stocks freeze at lower circuits
Tuesday, August 10, 2021
Today (10th August 2021) shares of mid and small-cap companies came under pressure, falling by up to 18 percent on the BSE amid profit booking. At 02:04 pm, the S&P BSE Midcap index and the S&P BSE Smallcap index were down 1 percent and 2 percent, respectively. In comparison, the benchmark S&P BSE Sensex was up 0.23 percent at 54,527 points. With today's fall, mid-and small-cap indices have corrected 3.3 percent and 4.6 percent, respectively from their respective all-time highs touched on August 4, 2021. Prior to that, the S&P BSE Midcap index had rallied 29 percent, and the S&P BSE Smallcap index had zoomed 48 percent in the calendar year 2021. Read more

MARKET UPDATE: Sensex declined 108 points,at 54,261 levels and Nifty dipped 45.5 points to quote at 16,214-mark

MARKET UPDATE: Sensex declined 108 points,at 54,261 levels and Nifty dipped 45.5 points to quote at 16,214-mark
Thursday, August 5, 2021
Indian equities erased gains and slipped into the red amid profit-booking. The frontline BSE Sensex declined 108 points, or 0.2 percent, at 54,261 levels while the Nifty50 index dipped 45.5 points, or 0.28 percent, to quote at 16,214-mark. Both the indices hit new highs of 54,576.64 and 16,294.65 in morning deals. Sectorally, all expect the Nifty IT index was in the red led by banking and realty counters. Individually, shares of Vodafone Idea hit 15 percent lower circuit after Kumar Mangalam Birla stepped down as non-executive chairman of Vodafone Idea (Vi) after offering to give up his stake in the debt-ridden telecommunications (telecom) company. More than 100 companies, including Adani Power, NCC, GAIL, Tata Chemicals, Cipla, Quess Corp, Indiabulls Housing Finance, and Gujarat Gas are slated to post their results.

SBI reports highest-ever quarterly net profit of Rs 6,504 crore in Q1

SBI reports highest-ever quarterly net profit of Rs 6,504 crore in Q1
Wednesday, August 4, 2021
The country's largest lender, State Bank of India shares surged more than 2 percent on Wednesday as the bank reported a net profit of ₹ 6,504 crores in the quarter ended June 2021, which marked an increase of 55 percent from a profit of ₹ 4,189.34 crores during the same period last year. This was the highest quarterly net profit reported by the lender, SBI said in the BSE filing. The profit was higher than Street’s expectations. A CNBC-TV18 poll of analysts had estimated Q1 profit at Rs 6,374.5 crore. The bank's net interest income, the difference between interest earned and expended, witnessed a growth of 3.7% at ₹27,638 crores as against ₹26,641 crore year-on-year (YoY).SBI's other income jumped 48 percent to ₹ 11,803 crores while provisions for bad loans declined 47 percent to ₹ 5,030 crores on a year-on-year basis. The bank’s operating profit surged 5.06 percent year-on-year to Rs 18,975 crore in Q1FY22, against Rs 18,061 crore in Q1FY21. Read more

HDFC Q1 results:Net profit at 3001 Crore

HDFC Q1 results:Net profit at 3001 Crore
Monday, August 2, 2021
HDFC on Monday reported a 1.6 percent year-on-year (YoY) decrease in standalone net profit at Rs 3,000.67 crore for the April-June quarter of FY22 (Q1FY22). The company had posted a profit of Rs 3,051.5 crore in the year-ago period. The mortgage lender said its interest income stood at Rs 10,523.36 crore, down 2.48 percent from Rs 10,790.66 crore in the year-ago quarter. Total income stood at Rs 11,663.14 crore, down from Rs 13,019.29 crore. The profit number was above the market estimates, as a CNBC-TV18 poll of analysts had expected Q1 profit at Rs 2,898.7 crore. On a consolidated basis, profit after tax stood at Rs 5,311 crore as compared to Rs 4,059 crore in the previous year, representing a growth of 31 percent. The profit before tax for the quarter ended June 30, 2021, stood at Rs 3,905 crore compared to Rs 3,607 crore in the previous year. Read more

Tech Mahindra Q1 results profit jumps 39% YoY to Rs 1,353 crore

Tech Mahindra Q1 results profit jumps 39% YoY to Rs 1,353 crore
Thursday, July 29, 2021
The IT services major Tech Mahindra reported a 39.17 percent year-on-year (YoY) jump in its consolidated net profit at Rs 1,353.2 crore for the April-June period of the financial year 2021-22 (Q1FY22) as against Rs 972.3 crore posted in the corresponding quarter last year. The Company reported Rs 1,081.4 crore in the quarter ended March 2021 which rose by 25.13 percent. The IT services major reported a 4.8 percent quarter-on-quarter rise in consolidated revenues to Rs 10,198 crore for the reported quarter, which was slightly above analysts’ expectations. The consolidated revenue from operations in June 2021 quarter grew 11.98 percent YoY at Rs 10,197.6 crore. The company had posted revenue of Rs 9,106.3 crore in the same period a year ago. Its earnings before interest and tax were down 3.6 percent at Rs 1,545.3 crore versus Rs 1,603.7 crore and the margin was at 15.2 percent versus 16.5 percent, QoQ.The dollar revenue was up 4.1 percent at $1,383.6 million against $1,329.6 million. Read more

Maruti Suzuki Q1 Results net profit of Rs 441 crore

Maruti Suzuki Q1 Results net profit of Rs 441 crore
Wednesday, July 28, 2021
The country’s largest carmaker Maruti Suzuki India (MSI) on Wednesday reported a a standalone net profit of Rs 440.8 crore for April-June quarter of FY22 (Q1FY22), hit by increased tax expenses and lower sale volumes. The company had posted a net loss of Rs 249.4 crore in the year-ago period. Revenue for the quarter jumped more than four times to Rs 17,770.7 crore against Rs 4,106.5 crore in Q1FY21. On a quarterly basis, the income tumbled 26 per cent from Rs 24,023.7 crore.T he profit declined 62.19 per cent from Rs 1,166.1-crore profit reported in the March quarter of FY21 as auto sales remained disrupted due to localised lockdown during April and May.The numbers came below market expectations. A CNBC-TV18 poll of analysts had estimated the profit and revenue numbers at Rs 675.7 crore and Rs 17,929 crore, respectively, for the quarter. Read more

Kotak Mahindra Bank Q1 Results:Profits jumps 32 percent

Kotak Mahindra Bank Q1 Results:Profits jumps 32 percent
Monday, July 26, 2021
Kotak Mahindra Bank on July 26 reported a 32 percent year-on-year (YoY) jump in standalone Q1FY22 net profit at Rs 1,641.92 crore against Rs 1,244.45 crore in Q1FY21, which was below analysts’ expectations. Total income during April-June 2021-22 rose to Rs 8,062.81 crore, from Rs 7,685.40 crore in Q1FY21, Kotak said in a regulatory filing Its net interest income, or core income, rose 6% over the year-earlier to Rs 3,942 crore during the period, against an estimated Rs 3,961 crore. Provisions and contingencies in the quarter declined to Rs 935 crore from Rs 962 crore in the year-ago quarter. However, the lender saw a deterioration in asset quality in the reported quarter. Other income doubled to Rs 1,583 crore. It included fee income worth Rs 1,169 crore, which rose 51% year-on-year. Operating profit for the quarter came in at Rs 3,121 crore, up 19 percent YoY against Rs 2,624 crore in Q1FY21. Read more

Banks, financials lift Sensex nearly 400 points

Banks, financials lift Sensex nearly 400 points
Tuesday, July 13, 2021
Bulls were in control today and market breadth was buoyant. Expectations of a good quarter for Textile exporters aided by a weak rupee kept several companies in this space buzzing through the day. Profit booking in several Largecaps & High-Quality Midcaps was witnessed. The 30-share pack Sensex climbed 397.04 points or 0.76 percent to close at 52,769.73. Its broader peer NSE Nifty rose 119.75 points or 0.76 percent to 15,812.35. Read more

Frontline equity indices turned highly volatile towards the fag-end of the session

Frontline equity indices turned highly volatile towards the fag-end of the session
Tuesday, July 6, 2021
The frontline equity indices turned highly volatile towards the fag-end of the session today (6th July 2021) as profit-booking in all but the financial sector dragged them in the negative territory. The 30-share BSE barometer dropped 268 points from the record peak of 53,129, touched earlier today, to settle at 52,861 levels, down 19 points or 0.04 percent. Only 11 of the 30 constituents on the index managed to end in the green led by UltraTech Cement (up 3 percent), HDFC Bank, Bajaj twins, Kotak Bank, IndusInd Bank, and Tata Steel. On the NSE, the broader Nifty50 declined 16 points, or 0.10 percent, to end at 15,818 levels. Tata Motors, down 8.5 percent, ended as the top laggard on the index after its UK subsidiary Jaguar Land Rover (JLR) said it expects an operating cash outflow of about £1 billion, with negative earnings before interest tax (EBIT) margin in the second quarter ended September 2021 (Q2FY21), due to the supply constraints. Read more

LIC Housing Finance dips 4% as investors booked profit

LIC Housing Finance dips 4% as investors booked profit
Wednesday, June 16, 2021
Shares of LIC Housing Finance slid 4 percent to Rs 501 on the BSE in intra-day trade today(16th June 2021) as investors booked profit after the company reported a good set of numbers for the March quarter (Q4FY21) on the operating and business growth front. However, a steep rise in provisions dented profitability. The board approved a dividend at 425 percent i.e. Rs 8.50 per equity share of Rs 2 each for the financial year 2020-2021. The stock has corrected 8 percent from its 52-week high level of Rs 542, touched on Friday (June 11, 2021) with today’s decline. Despite the past couple of days' fall, LIC Housing Finance has outperformed the market by gaining 18 percent, as compared 8 percent rise in the S&P BSE Sensex in the past month.

Jubilant Food Q4 result

Jubilant Food Q4 result
Tuesday, June 15, 2021
Jubilant Foodworks on Tuesday reported a 395.5 percent year-on-year rise in its net profit to Rs 104.3 crore for the quarter ending March. The net profit of the company was predicted to be Rs 116.5 crore by the analysts. The company reported revenue from operations of Rs 1,025.9 crore for the reported quarter, up 14.3 percent on-year but slightly below Street’s estimates. The company’s board also approved a final dividend of Rs 6 per share for the financial year ended March 2021. The company’s earnings before interest, tax, depreciation, and amortization rose 47 percent year-on-year to Rs 249.2 crore. Some-store sales growth for Domino’s in the quarter stood at 11.8 percent as against negative 3.4 percent in the year-ago period. On a like-to-like basis, growth was at 15.1 percent as against negative 2.3 percent in the year-ago period. Read more

Bata India surges 6% despite poor Q4 numbers

Bata India surges 6% despite poor Q4 numbers
Thursday, June 10, 2021
Shares of Bata India surged 6 percent to Rs 1,657.50 on the BSE in intra-day trade on Thursday despite the company reporting a poor set of numbers in the quarter ended March 2021. The Company expects that it would be able to revive its revenue growth trajectory as and when the impact of the Covid-19 phases out. The stock of the footwear company was trading close to its 52-week high level of Rs 1,705 touched on January 11, 2021. According to a regulatory filing by the company to the stock exchanges, Bata India reported a net profit of ₹ 29.47 crores on a consolidated basis in the March quarter of fiscal 2020-21. The country's largest shoemaker's net profit declined 23.3 percent in the March quarter of fiscal 2021. It reported a net profit of ₹ 38.40 crores in the corresponding quarter of the previous fiscal year. The company's revenue from operations was down to ₹ 589.90 crores in the fourth quarter, compared to ₹ 620.57 crores in the same quarter of the previous fiscal. Read more

Zomato IPO: Growth versus profitability debate is on

Zomato IPO: Growth versus profitability debate is on
Tuesday, June 8, 2021
Ahead of Zomato's initial public offering (IPO) planned later this year the growth versus profitability debate is heating up. According to analysts at Jefferies, while one set of investors are looking at Zomatos’ growth metrics even at the cost of medium-term profitability, the other camp is looking for a clear path to profitability going ahead. Potential competition from Amazon, Thrive, etc. is also on investors' minds and so is the dynamics between Zomato and Swiggy, they said. A few investors are concerned that Swiggy, given its unlisted status, may have less investor pressure on profitability versus Zomato, which will have public market shareholders,” note the experts. Read more

Narayana Hrudayalaya rallies 16% on strong March quarter results

Narayana Hrudayalaya rallies 16% on strong March quarter results
Tuesday, June 1, 2021
Shares of Narayana Hrudayalaya rallied 16 percent to Rs 507.60 on the BSE in intra-day trade on Tuesday after posting strong results a Six-time jump in the quarter ended on March 31, 2021.on the back of healthy operational performance. The company, a leading healthcare service provider in India, had recorded a profit of Rs 12 crore in Q4FY20. The hospital chain reported a 469 percent surge in consolidated profit at Rs 68.05 crore in Q4FY21 against Rs 11.99 crore in the same quarter of the previous year. The revenue of the company jumped to Rs 837.76 crore from Rs 742.95 crore during the period under review. Narayana Hrudayalaya reported a decent growth of 12.76 percent in consolidated revenues at Rs 837.76 crore in the March 2021 quarter, compared to Rs 749.9 crore in the same quarter of the previous year. On a sequential basis, the total revenue was up by 11.65 percent compared to revenue in the December 2020 quarter at Rs 750.36 crore. Read more

SBI Q4 profit jumps to Rs 6,451 crore on lower provisioning

SBI Q4 profit jumps to Rs 6,451 crore on lower provisioning
Friday, May 21, 2021
Shares of India’s largest public sector bank State Bank of India gained 5 percent after the bank on Friday reported an 80 per cent surge in standalone net profit of Rs 6,450.75 crore for quarter ended March 2021 (Q4FY21) aided by fewer provisions on bad loans. State Bank of India (SBI) had registered a profit of Rs 3,580.81 crore during January-March period of 2019-20, the lender said in a regulatory filing.The jump in profit was supported by net interest income and other income, while the low base in the year-ago quarter added to the jump.Total income of the bank during the March quarter of the last financial year rose to Rs 81,326.96 crore, from Rs 76,027.51 crore. The domestic net interest margin expanded 17 bps year-on-year to 3.11 percent in Q4FY21 but fell 23 bps sequentially. With regard to asset quality, gross non-performing assets (NPAs) of the bank improved at 4.98 per cent of gross advances as on March 31, 2021, as against 6.15 per cent by the same period of 2020. Read more

Bosch Q4 net profit jumps 5x to Rs 483 crore

Bosch Q4 net profit jumps 5x to Rs 483 crore
Thursday, May 20, 2021
Shares of Bosch gained 9 percent to Rs 16250 after Company posted a standalone net profit of Rs 482 crore in the January-March quarter (Q4FY21), up nearly 5 times from Rs 81 crore logged in the year-ago period. Total revenue of Bosch's Mobility Solutions Business sector increased by 56.6 percent in the quarter ending on March 31, 2021. The total revenue of the Powertrain Solutions division increased by 65.6 percent. Its revenue from operations, meanwhile, came in at Rs 3,217 crore for the quarter ending March 31, 2021, an increase of 44 percent from the revenue of Rs 223,6 crore clocked in the same quarter last year. The company announced a dividend of Rs 115 per share for the financial year 2020-21. The company said it has seen a significant increase in demand from the agriculture sector, mainly tractor business. It has also seen growth in the power tools segment, especially in construction and e-commerce. Read more

Brigade Enterprises gain 5 percent after Q4 result

Brigade Enterprises gain 5 percent after Q4 result
Wednesday, May 19, 2021
Shares of Brigade Enterprises gained 13 per cent to Rs 279.95 after the realty company reported a sharp surge in consolidated net profit to Rs 39.57 crore in Q4 FY21 from Rs 2.68 crore in Q4 FY20.Total income rose to Rs 820.86 crore in Q4 from Rs 644.34 crore in the previous year.The mid cap stock has gained 174% in one year and risen 5.16% since the beginning of this year.The board of directors recommended a final dividend of Rs 1.20 per equity share (12 percent) of Rs 10 each which is subject to approval of shareholders in the ensuing Annual General Meeting of the Company, the company said in an exchange filing."The dividend will be paid within 30 days from the date of shareholders approval in the ensuing annual general meeting of the company," it added.Brigade Enterprises posted a consolidated net loss of Rs 46.3 crore for the year ended March 2021 compared with net profit of Rs 130.6 crore in the year ended March 2020 . Revenue declined 26% year on year to Rs 1,949.97 cr in FY21 Read more

Siemens shares gains on healthy results for the quarter ended March 2021

Siemens shares gains on healthy results for the quarter ended March 2021
Wednesday, May 12, 2021
Shares of Siemens on Wednesday, gained 10 percent, hitting a new high of Rs 2,143.20, on the BSE in intra-day trade after the company reported a strong set of numbers for the quarter ended March 2021. The Company reported a 90 percent rise in consolidated net profit at Rs 334.4 crore for the March quarter, mainly on the back of higher revenues.The consolidated net profit of the company stood at Rs 175.7 crore in the quarter ended March 31, 2020. Total income rose to Rs 3,540 crore in the March quarter from Rs 2,722.1 crore in the same period a year ago. Earnings before interest, taxes, depreciation and amortization (EBITDA) doubled to Rs 440 crore from Rs 220 crore, aided by lower employee costs and other expenses. Read more

Bandhan Bank down 4 per cent after Q4 result

Bandhan Bank down 4 per cent after Q4 result
Monday, May 10, 2021
Shares of the Kolkata-based Bandhan Bank hit an over six-month low of Rs 285.90, down 4 percent on the BSE in intra-day trade on Monday after the bank reported a weak set of numbers for the quarter ended March 2021 as provisions rose against an elevated level of bad loans Net profit fell 80% year-on-year to Rs 103 crore in the January - March quarter. Analysts had estimated a net profit of Rs 947 crore. The bank's net interest income (NII), the difference between interest earned and interest expended, grew by 4.6 percent year on year to Rs 1,757 crore. In Q4FY21, the profit after tax (PAT) of the lender fell to Rs 103 crore compared with Rs 517.3 crore in the same period last year. Provisions rose sharply to Rs 1,594 crore, on account of further provisions carried in its micro-finance portfolio, from Rs 827.36 crore a year ago.

Tata Coffee gains 9 per cent after Standalone Profit Surges 10 Times In March Quarter

Tata Coffee gains 9 per cent after Standalone Profit Surges 10 Times In March Quarter
Friday, April 30, 2021
Shares of Tata Coffee rallied over 9 percent in Friday's session to hit a 52-week high of Rs 139.70 on the BSE after its standalone profit surged 10 times to ₹ 40 crores from ₹ 3.99 crores during the same quarter last year. The company on Thursday posted a more than two-fold jump in consolidated net profit at Rs 57.37 crore for the fourth quarter of 2020-21 fiscal on strong income, as against a net profit of Rs 24.05 crore in the same quarter of the previous fiscal. Its revenue from operations rose 30 percent to ₹ 219 crores from ₹ 167 crores during the same quarter last year. The company's managing director Chacko P Thomas said the Q4 performance remained strong despite challenging conditions."Our India Instant Coffee exports for the quarter have been higher despite logistics issues and a fresh wave of lockdowns in Europe, which are expected to ease in the near future. We have seen stable performances across key geographies.

Maruti Suzuki Q4 profit down 10% to Rs 1,166 crore

Maruti Suzuki Q4 profit down 10% to Rs 1,166 crore
Tuesday, April 27, 2021
India’s largest passenger car manufacturer Maruti Suzuki India on Tuesday reported a near 10 percent year-on-year fall in net profit to Rs 1,166 crore for the quarter ended March on account of lower sales volume, increase in commodity prices, adverse foreign exchange movement, and lower non-operating income. During the previous year, the company reported a profit of Rs 1,291.7 crore. Revenue from operations in Q4 FY21 stood at Rs 24,023.7 crore, up 32 percent from Rs 18,198.7 crore in the year-ago period backed by strong double-digit growth in sales. In the December quarter of the current fiscal, PAT stood at Rs 1,941.4 crore. On a consolidated basis, the net profit slipped 6.1 percent to Rs 1,241.1 crore. Analysts had expected Maruti to report a 38 percent year-on-year jump in net profit to Rs 1,785 crore for the quarter on revenues of Rs 23,704 crore. Read more

Infosys shares down 6% after March quarter results

Infosys shares down 6% after March quarter results
Thursday, April 15, 2021
Shares of Infosys were down 6 per cent at Rs 1,320 on the BSE in intra-day trade on Thursday a day after the IT giant posted a 17 per cent year-on-year growth in net profit at Rs 5,076 crore for the March quarter of the financial year 2020-21 (Q4FY21) as against Rs 4,321 crore posted in the same period last fiscal. Also on account of profit booking and in the overnight trade, Infosys ADR plunged 6 per cent to $1731 per share. Consolidated revenue from operations grew by 1.5 per cent sequentially to Rs 26,311 crore, while consolidated revenue in constant currency grew by 2 per cent and the topline growth in dollar terms was at 2.8 per cent quarter-on-quarters. Infosys’ board has also approved a Rs 9,200 crore buyback of equity shares from the open market. The company will buy back shares at a maximum of Rs 1,750 apiece, a premium of 25% on the current market price of Rs 1,398 apiece and also recommended a final dividend of Rs 15 per equity share.

M&M stock jumps 10% as investors react to positive Q3 results

M&M stock jumps 10% as investors react to positive Q3 results
Monday, February 8, 2021
Shares of Mahindra & Mahindra (M&M) rallied 10 per cent to Rs 952 on the BSE in Monday's intra-day trade after the firm reported a healthy operational performance in the October-December quarter. Revenue of the firm stood at Rs 14,057 crore, up 16% from the same period last year. The company had an exceptional loss of Rs 1,213.98 crore for the December quarter, representing impairment provisions for certain long-term assets and other exposures. The profit before exceptional loss stood at Rs 1,745 crore for the quarter. The increase in operating margins was driven by cost optimisation and operating leverage. The company sold 97,420 tractors in the domestic market in Q3 FY21, registering a 20 per cent growth over the corresponding period. Global research firm Goldman Sachs has maintained a buy rating on the stock with a target of Rs 1,029 per share.

Sunpharma Q3 reults:Profit jumps to Rs 1,852 crore

Sunpharma Q3 reults:Profit jumps to Rs 1,852 crore
Friday, January 29, 2021
Shares of Sun Pharmaceutical Industries gained by 6 per cent to Rs 600, bouncing back 8 per cent from day’s low of Rs 554, after the company’s net profit more-than-doubled at Rs 1,852 crore in December quarter (Q3FY21) compared with Rs 913.52 crore in the same quarter last year. The profit figures were above market expectations as a CNBC-TV18 poll had estimated the profit at Rs 1,334 crore. Consolidated total revenue from operations increased 8% to ₹8,837 crore as against ₹8,155 crores a year ago. Revenue was better-than-expected too as a CNBC-TV18 poll had estimated it at Rs 8,367 crore. Other income for the quarter surged to Rs 314.95 crore compared with Rs 119.88 crore in the year-ago quarter. The company declared an interim dividend of ₹5.50 per share. The board of directors has fixed February 10, 2021, as the record date for the purpose. Read more

Eicher Motors gains 9 per cent, hits 52-week record high

Eicher Motors gains 9 per cent, hits 52-week record high
Friday, November 13, 2020
Shares of Eicher Motors Ltd., the owner of Royal Enfield, hit a fresh 52-week high of Rs 2,574 up 9 per cent on the BSE on Friday after the automaker declared its September quarter results..Eicher Motors on November 12 reported a 40 per cent decline in consolidated net profit at Rs 343.34 crore in the second quarter ended September 30. The company had posted a net profit of Rs 572.69 crore in the corresponding quarter last fiscal, Eicher Motors said in a regulatory filing. For the July-September quarter (Q2FY21), Eicher Motors’ total revenue from operations declined 3 per cent year-on-year (YoY) at Rs 2,134 crore as compared to Rs 2,192 crore in the corresponding quarter of the previous fiscal, due to a drop in volumes. The management said production levels are at 70,000 units/month now, while bookings number were encouraging at 1.25 lakh units, including 8,000 units for newly-launched Meteor. Read more

Divi's Lab hits record high after Q2 result

Divi's Lab hits record high after Q2 result
Monday, November 9, 2020
Shares of The Hyderabad-based company Divi's Laboratories hit a record high of Rs 3,463, up 7 per cent on the BSE on Monday after the company reported a strong 45.6 per cent year-on-year (YoY) jump in its net profit at Rs 520 crore mainly on account of robust sales. It had reported a profit of Rs 356.78 crore for the corresponding quarter last year. The company reported a 21% year-on-year rise in revenue at Rs 1,749.3 crore in the quarter ended September, according to an exchange filing. Consolidated total income of the company stood at Rs 1,762.94 crore for the quarter under consideration. It was Rs 1,492.60 crore for the same period a year ago, it added. For the current quarter, Divi’s Labs witnessed a forex loss of Rs 16 crore against a gain of Rs 13 crore. Global research firm Jefferies has upgraded the stock to buy and has raised the target to Rs 3,772 from Rs 3,159 per share. Read more

SBI Net profit jumps 52 per cent to ₹4,574 crore in Q2

SBI Net profit jumps 52 per cent to ₹4,574 crore in Q2
Wednesday, November 4, 2020
The largest Mumbai based Nationalised bank, State Bank of India on Wednesday reported a net profit of ₹ ₹4,574 crores in the September quarter as compared to ₹3011 crores in the same period of the previous year as the lender's provisions declined during the quarter and tax cost and higher net interest income. On a quarterly basis, the profit rose 9 per cent from Rs 4,189.3 crore-profit reported in Q1FY21. It reported net NPA of 1.59% of total assets as compared to 2.79% in the same quarter of the previous year. Gross NPA stood at 5.28%, as compared to 7.19% in the year-earlier quarter. Analyst had estimated the profit at Rs 2,117.2 crore. The deposits grew by 14.41 per cent YoY, with current account deposit rising by 8.55 per cent YoY and saving bank deposits up by 16.28 per cent YoY, said the bank. The bank’s operating profit increased nearly 12 per cent to Rs 16,460 crores in Q2FY21 from Rs 14,714 crores clocked in Q2FY20. Read more

Sun Pharma Q2 profit jumps 70 per cent, beats street estimates

Sun Pharma Q2 profit jumps 70 per cent, beats street estimates
Tuesday, November 3, 2020
Mumbai-based Drug producer Sun Pharmaceutical Industries reported a 70.4 per cent jump in net profit at Rs 1,812.79 crore for the quarter ended September driven by operating performance and tax credit. It had reported a net profit of Rs 1,064.09 crore in the same quarter a year ago. Analysts had projected the profit figure of Rs 1,194 crore. Revenue rose 5.3% to ₹8,550 crores compared to the year-ago period, according to a filing on Tuesday. Earnings before interest, tax, depreciation and amortization (EBITDA) climbed 22.5 per cent YoY to Rs 2,193.3 crore as compared to last year's Rs 1,789.7 crore. The company said there was an exceptional tax gain for the quarter due to creation of a deferred tax asset amounting to Rs 288.28 crore, arising out of a subsequent measurement attributable to restructuring of an acquired entity. Read more

HDFC Q2 result net profit tanks 28 per cent, beats market expectation

HDFC Q2 result net profit tanks 28 per cent, beats market expectation
Monday, November 2, 2020
Housing Development Finance Corporation (HDFC) on Monday posted a net profit for the September quarter of FY21 which is 27.5 per cent less compared to the corresponding year. It reported a profit of Rs 2,870.12 crore against a Rs 2,360 crore estimate that analysts had made. It had reported a net profit of Rs 3,961.5 crore in the year-ago period. On a consolidated basis, the profit declined 53.15 per cent to Rs 5,035.41 crore from Rs 10,748.69 crore clocked in Q2FY20. Provisions worth Rs 436 crore has been set aside for the September quarter of FY21. It added that bottom line numbers are not comparable due to dividend income and profit on the sale of investments of Rs 323 crore. The figure stood at Rs 2,701 crore last year. The net interest income (NII) came in at Rs 3,647 crore, jumping 20.7 per cent YoY from Rs 3,021 crore. Read more

Karur Vysya Bank Q2 net profit jumps 81 per cent to Rs 115 crore

Karur Vysya Bank Q2 net profit jumps 81 per cent to Rs 115 crore
Friday, October 30, 2020
Private sector Karur Vysya Bank (KVB) on Friday reported an 81.4 per cent jump in its net profit at Rs 114.89 crore in the second quarter of FY 2020-21 due to lower provisioning for bad loans. The Bank had reported a net profit of Rs 63.33 crore in the corresponding year. Total income was down to Rs 1,666.26 crore in the July-September period of FY21 as against Rs 1,815.24 crore in the same quarter of 2019-20, KVB said in a regulatory filing. Interest income was down 9.3 per cent at Rs 1,394.70 crore from Rs 1,537.51 crore. The asset quality of the Bank was improved with the gross non-performing assets (NPAs) falling to 7.93 per cent of the gross advances at end September 2020 from 8.89 per cent a year ago. The provisions for bad loans and contingencies for Q2FY21 was brought down at Rs 284.73 crore from Rs 365.17 crore reserved a year ago. Bad loans were down at Rs 3,998.43 crore as against Rs 4,391.03 crore. Read more

Maruti Suzuki profit raises to 1 per cent at Rs 1372

Maruti Suzuki profit raises to 1 per cent at Rs 1372
Thursday, October 29, 2020
Indias largest Automaker, Maruti Suzuki India on Thursday reported a one per cent year-on-year growth in net profit at Rs 1,372 crore for the September quarter of FY21 against Rs 1,358.6 crore in the same period last year. This is a big update from the company considering it posted a loss of Rs. 249.4 crore for the first quarter of the current financial year ending in June 2020. Revenue rose 10% year-on-year to Rs 18,744 crore, compared with the Rs 19,137-crore estimate.Maruti's Q2 earnings before interest, tax, depreciation, and amortization (Ebitda) came in at Rs 1,933 crore while Ebitda margin for the quarter stood at 10.3 per cent, up to 86 basis points (bps) from 9.46 per cent in Q2FY20.“In Quarter 2, the performance improved on the back of some demand recovery and gradual improvement in supply conditions,” Maruti Suzuki said in a statement.Maruti sold 3.93 lakh units in July-September quarter reporting a massive 413 per cen growth over the previous quarter and 16 per cent. Read more

Titan Q2 results: Profit drops 38 percent to Rs 199 cr in Sept quarter

Titan Q2 results: Profit drops 38 percent to Rs 199 cr in Sept quarter
Wednesday, October 28, 2020
Titan Co on Wednesday reported a net profit of Rs 199 crore for the quarter ended September, down 37.81 per cent from Rs 320 crore a year ago on account of higher expenses. The Company had reported a loss of Rs 270 crore in June Quarter.The numbers are in line with market expectations as a CNBC-TV18 poll had estimated the number to the tune of Rs 200 crore. Its total income for the quarter was Rs 4,389 crore, down 1.72 per cent as compared with the income of Rs 4,466 crore for the corresponding quarter in the previous year. While the company had reported revenue of Rs 1,862 crore for June Quarter. The company said it has incurred a loss of Rs 484 crore during the quarter as a result of a change in the cash flow hedging due to an increase in sales compared to the original sales forecast and advantage of the moratorium offered on the gold on loan.THE standalone EBITDA of the company came at Rs 294 crore against Rs 513 crore YoY. Read more

Bajaj Auto Q2 profit falls 19% to Rs 1,138 crore

Bajaj Auto Q2 profit falls 19% to Rs 1,138 crore
Thursday, October 22, 2020
Shares of a major two-wheeler Bajaj Auto fell 1 per cent to Rs.2983 after the company reported 18.84 per cent year-on-year (YoY) drop in net profit at Rs 1,138.20 crore for the quarter ended September 30, missing a CNBC-TV18 poll estimates which of Rs 1,212 crore. The auto major had reported Rs 1,402.42 crore profit for the corresponding quarter last year. Total revenue from operations declined 7.16 per cent YoY to Rs 7,155.86 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 0.9 per cent year-on-year to Rs 1,266.2 crore, but margin expanded 110 bps YoY to 17.7 per cent in Q2 FY21. Operating profit of the company inched lower by 1 per cent to Rs 1,233 crore. As on September 30, 2020, the company's surplus cash and cash equivalents stood at Rs 16,240 crore as against Rs 14,232 crore as on June 30, 2020, and Rs 14,322 crore as on March 31, 2020.Bajaj Auto sold 1,053,337 units in Q2FY21, down 10 per cent YoY, against 1,173,591 units in Q2FY20. Read more

Bajaj Finance Q2 profit declines 36% YoY to Rs 965 crore

Bajaj Finance Q2 profit declines 36% YoY to Rs 965 crore
Wednesday, October 21, 2020
Shares of Bajaj Finance was down 0.89 per cent at Rs 3,233 on Wednesday after the Company posted huge 35.94 per cent year-on-year (YoY) drop in net profit at Rs 964.88 crore for the quarter ended September 30 as the lender almost tripled provisions for bad loans as the coronavirus pandemic impacted demand for credit and borrowers’ ability to repay. Analysts in an ET NOW had projected the figure at Rs 1,037 crore. The Company had reported Rs 1,506 crore in the same period last year. Loan losses and provisions for the second quarter ended September 30, 2020, was ₹1,700 crore as against ₹594 crores in Q2 FY20. Consolidated assets under management rose to ₹137,090 crores as compared to ₹135,533 crores in the year-ago period.Net interest income of the NBFC increased 4 per cent YoY to Rs 4,165 crore which was better than the CNBC-TV18 poll estimates of Rs 3,711.7 crore. Total operating expenses for Q2 FY21 was down by 16% to ₹1,160 crores from ₹1,384 crores. Read more

HUL Q2 result : Net profit rises 9%to Rs 2,009 crore,announces interim dividend of Rs 14

HUL Q2 result : Net profit rises 9%to Rs 2,009 crore,announces interim dividend of Rs 14
Tuesday, October 20, 2020
Hindustan Unilever (HUL) share price fell over 2 per cent to Rs 2,133 apiece in intraday deals on BSE on Tuesday after the Company reported an 8.7 per cent year-on-year (YoY) rise in its net profit at Rs 2,009 crore for the second quarter of the current fiscal year (Q2FY21). The company had logged a profit of Rs 1,848 crore in the year-ago period. Total sales (revenue) of the company increased 16 per cent during the quarter to Rs 11,442 crore, against Rs 9,852 crore in the year-ago period. The board also declared an interim dividend of Rs 14 per share. The record date for the purpose of determining the entitlement for payment of the interim dividend is fixed as October 29, 2020. HUL’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter came at Rs 2,869 crore, which registered a 17 per cent on-year growth. Read more

HDFC Bank shares gain after strong Q2 results

HDFC Bank shares gain after strong Q2 results
Monday, October 19, 2020
HDFC Bank shares gained 2.5 per cent to Rs 1,235 apiece on the BSE on Monday after the bank reported a healthy September quarter (Q2FY21) results. The bank reported an 18.4% on-year jump in net profit to Rs 7,513 crore compared to a net profit of Rs 6,344.9 crore in the quarter ended September 2019. The lender reported profit growth of 19.58 per cent in June and 17.71 per cent in the March quarter. It had posted a net profit of Rs 6,658.6 crore in the first quarter ended in June 2020. The lender reported a 17% year-on-year growth in its net interest income to Rs 15,774.4 crore in Q2FY21 from Rs 13,515 crore in Q2FY20. On the asset quality front, gross non-performing assets stood at 1.08% from 1.36% last quarter while net non-performing assets stood at 0.17% from 0.33% in the previous quarter. Provisions saw a decline of 5% quarter-on-quarter to Rs 3,704 crore. Read more

HCL Tech Q2 profit rises 18.5% to Rs 3,142 crore, share price falls post Q2 result

HCL Tech Q2 profit rises 18.5% to Rs 3,142 crore, share price falls post Q2 result
Friday, October 16, 2020
HCL Technologies share price fell 4.4 % to Rs 821 apiece on BSE after the IT company announced July-September quarter results. HCL Tech Q2 net profit came at Rs 3,142 crore in July-September quarter, rising 18.5 per cent year on year and up 7.4 per cent on a sequential basis. The company had posted a net profit of Rs 2,651 crore in the corresponding period of the last year. Revenue for the quarter rose 6.1 per cent YoY to Rs 18,594 crore compared with Rs 17,528 crore sales the company reported in the year-ago quarter. The operating margin of the IT services provider improved 110 basis points sequentially to 21.6 per cent in the July-September period—a 22-quarter high. The dollar revenue growth stood at 6.4% at 2,507 million and the company posted constant currency revenue growth at 4.5 per cent. The company has also declared an interim dividend of Rs 4 per equity share of Rs 2 each for FY21. The company has signed 15 transformational deals in the quarter ended September 2020 Read more

Wipro announces ₹9,500 crore buyback plan at ₹400 per share,Profit Rises 3% In September Quarter

Wipro announces ₹9,500 crore buyback plan at ₹400 per share,Profit Rises 3% In September Quarter
Tuesday, October 13, 2020
Wipro, the fourth largest Bangalore based IT services company in India, has reported a 3.2 per cent sequential growth in consolidated profit for the quarter ended September 2020, and also announced a share buyback of Rs 9,500 crore. Consolidated profit increased to Rs 2,465.7 crore for the quarter, compared to Rs 2,390.4 crore in the previous quarter. Wipro's gross revenue rose 1.4 per cent sequentially to ₹ 15,110 crores and revenue from IT services increased 3.7 per cent to $1,992.4 million. Wipro will buy back 23.75 crore shares or 4.16 per cent of the total paid-up capital. at ₹ 400 per equity share, the company said in a press release. The record date of the said buyback was not fixed. Wipro also announced that the company entered into a definitive agreement to acquire Eximius Design India private Limited, an engineering services company with expertise in semiconductor, software and systems design for a total consideration of about ₹100 crores. Read more

Wockhardt locks 5 % down post Q1 profit

Wockhardt locks 5 % down post Q1 profit
Monday, August 31, 2020
Shares of Wockhardt were locked in the 5 per cent lower circuit band at Rs 312.55 on the BSE on Monday despite reporting a consolidated net profit of Rs 759.75 crore for June quarter. The company had posted a net loss of Rs 36.88 crore for April-June 2019-20. The main reason for reporting profit is on account of exceptional items in connection with the transfer of a business comprising 62 products and Baddi facility to Dr Reddy's Laboratories. Total income stood at Rs 606.22 crore in the quarter under review. It was Rs 733.66 crore in the year-ago period, the filing added. Wockhardt launched a new chemical entity (NCE) during the quarter in the Indian pharma market. Products have been launched under the tablet and injection category under the brand name 'Emrock O and Emrock'.It said that divestment of business undertaking to Dr Reddy's Laboratories was accomplished during the quarter and Rs 1,483 crore has been received towards the same. Read more

CSB Bank reports 174% YoY jump in Q1 profit at Rs 53.5 cr

CSB Bank reports 174% YoY jump in Q1 profit at Rs 53.5 cr
Wednesday, August 19, 2020
Shares of CSB Bank gained 14.4 per cent to Rs 227.85 per share on the BSE on Wednesday after the bank reported a net profit of 53.56 crores in June quarter of FY21which grew 174.1 per cent on a yearly basis as against Rs 19.54 crore in Q1FY20.In the March quarter of FY20, the bank had incurred a net loss of Rs 59.68 crore.CSB Bank said its interest income rose 18.90 per cent YoY to Rs 422.60 crore from Rs 355.42 crore. The bank's operating profit before provisions and contingencies stood at Rs 129,09 crore, clocking a growth of 222 per cent YoY. Provision of the bank has also increased from over five-fold to Rs 57.53 crore Q1FY21, as against Rs 10.07 crore in the corresponding quarter last year, Out of which Rs 13.76 crore were for bad loans. In the March quarter, the same stood at Rs 84.32 crore. Read more

Tata Power shares rally 9 per cent after Q1 result and on merger proposal

Tata Power shares rally 9 per cent after Q1 result and on merger proposal
Thursday, August 13, 2020
Tata Power shares surged as much as 9 per cent to Rs 57.9 on the BSE on Thursday after the firm reported a 10 per cent on-year rise in consolidated net profit at Rs 268 crore in the April-June quarter on the back of reduced expenses. The company had posted a net profit of Rs 243 crore in the corresponding quarter of the preceding year. Revenue from operations fell 16.9 per cent YoY to Rs 6,453 crore in the first quarter of FY21Its consolidated profit before tax (PBT) and exceptional items for the June quarter dipped 31 per cent to Rs 480 crore, as against Rs 605 crore PBT posted in Q1FY20.In a span of three months, Tata Power share price has rallied 114 per cent from Rs 27 apiece to Rs 57.85. The company also announced its three wholly-owned subsidiaries, Coastal Gujarat Power Ltd (CGPL), Tata Power Solar Systems (TPSSL) and Af-Taab Investment Company (Af-Taab) are proposed to be merged with the parent company for greater synergies in the financing, compliance, and oversight. Read more

Divi's Laboratories shares gains 18 per cent post quarter results

Divi's Laboratories shares gains 18 per cent post quarter results
Monday, August 10, 2020
Shares of Divi's Laboratories on Monday zoomed 18 per cent to a fresh 52-week high of Rs 3,228.05 on the BSE after reporting 80.61 per cent year-on-year (YoY) rise in consolidated net profit for the June quarter of 2020-21. The drug firm reported a net profit of Rs 492.06 crore for the quarter on account of robust sales. The company had report a profit of Rs 272.44 crore in the year-ago same period. Total income stood at Rs 1,747.80 crore during the quarter under review as against Rs 1,193.20 crore in April-June 2019-20, it added."The company has been able to have near-normal operations during the quarter and there was minimal impact due to COVID-19 pandemic," Divi's Laboratories said. "Divi’s Lab delivered all-time high sales/EBITDA/PAT for the quarter. Overall performance was led by volumes and did not include any business opportunity related to COVID-19 treatment. Research and brokerage firm Emkay Global Financial Services, HSBC and Motilal Oswal has recommended buying the shares.

Mahindra & Mahindra Q1 profit falls 97% to Rs 68 Crore

Mahindra & Mahindra Q1 profit falls 97% to Rs 68 Crore
Friday, August 7, 2020
Auto major Mahindra & Mahindra on Friday reported a 97 per cent decline in consolidated profit at Rs 67.79 crore for June quarter 2020, adversely impacted by the COVID-19 pandemic. The company had reported a profit of Rs 2,259.74 crore ina year ago.The analysts had projected a net profit of Rs 200 crore for the company. The company's revenue also fell 56 per cent YoY to Rs 5,589.43 crore from Rs 12,805.47 crore reported in the year-ago quarter.M&M said profit before the exceptional gain of Rs 29 crore declined 96 per cent YoY to Rs 39 crore for the quarter. It sold 27,565 units of vehicles and 64,140 units of tractors during the quarter, down 78 per cent and 22 per cent YoY. Total exports were at 3,109 units, down 72 per cent.M&M's operating margin for the quarter stood at 10.3 per cent as compared to 14 per cent in Q1FY20. The company also approved the appointment of Nisaba Godrej and Muthiah Murugappan as additional directors on the board of directors. Read more

Tata Consumer Products hits new high after Q1 results

Tata Consumer Products hits new high after Q1 results
Wednesday, August 5, 2020
Tata Consumer Products' shares hit an all-time high of Rs 471.70 apiece on Wednesday after the Tata Group FMCG major reported a robust June quarter, with net profit rising 82 per cent year-on-year (YoY) to Rs 346 crore helped by an increase in demand in some categories. The company posted a net profit of Rs 190.09 crore in April-June a year ago. Revenue from operations was up 13.44 per cent to Rs 2,713.91 crore during the quarter as against Rs 2,392.36 crore in the corresponding period of the last fiscal. Tata Starbucks' operations for Q1 were adversely impacted due to COVID-19. As of June 30 2020, close to 60 per cent of the total 186 stores have reopened, it said. The company has acquired 50 per cent stake of PepsiCo India in NourishCo Beverages Ltd, making it a wholly-owned subsidiary with effect from May 18, 2020, and hence TCPL has shown a gain of Rs 84 crore. Read more

SBI Q1 Results:Profit jumps 81% to Rs 4,189.34 crore

SBI Q1 Results:Profit jumps 81% to Rs 4,189.34 crore
Friday, July 31, 2020
State Bank of India (SBI) the country’s largest bank on Friday reported an 81% YoY surge in net profit at Rs 4,189.34 crore for the quarter ended June 2020 compared with a profit of Rs 2,312.20 crore in the same quarter last year driven by a one-time gain from stake sale in SBI Life for Rs 1,539.73 crore. Consequently, SBI's holding in the life insurance firm has fallen to 55.5 % from 57.60 % earlier. On a quarterly basis, the net profit grew 17 % from Rs 3,580.8 crore reported in the March quarter of FY20.On a consolidated basis, the net profit came in at Rs 4,776.5 crore, up 61.88 % YoY, from Rs 2,950.5 crore reported in Q1FY20. Net interest income (NII) for the quarter came in at Rs 26,641 crore compared to Rs 22,938.8 crore in the year-ago period.Profit as well as NII both were ahead of a CNBC-TV18 poll estimates of Rs 3,222.2 crore and Rs 23,940.3 crore respectively. Read more

HDFC Q1 Results:Net profit down 5 per cent

HDFC Q1 Results:Net profit down 5 per cent
Thursday, July 30, 2020
Housing Development Finance Corporation on Thursday reported a standalone net profit of Rs 3,051.52 crore for June quarter of FY21, down a 4.7 per cent year-on-year (YoY) down from Rs 3,203.1 crore-profit reported in Q1FY20. The profit numbers beat market estimates as a CNBC-TV18 poll had estimated the number to come at Rs 2,698.8 crore. Consolidated net profit of HDFC was Rs 4,058.53 crore. It improved 14.6 per cent on a yearly basis from Rs 3,540 crore reported in Q1FY20. The company's revenue stood at Rs 13,017.7 crore in Q1FY21 against Rs 12,990.3 crore reported in the corresponding quarter last year.HDFC informed the bourses that it has kept aside Rs 1,199 crore as provisions to deal with the impact of the coronavirus. The net interest income (NII) for the quarter under review jumped 10 per cent year-on-year (YoY) to Rs 3,392 crore, up from Rs 3,079 crore reported in the corresponding quarter of the previous fiscal.CNBC-TV18 poll expected NII to come at Rs 3,419.5. Read more

Mphasis rallies 20% after June quarter profit rises to Rs 264

Mphasis rallies 20% after June quarter profit rises to Rs 264
Friday, July 24, 2020
Shares of Mphasis rallied 20 per cent to Rs 1,174.7,hits fresh 52 Week high on the BSE on Friday after the company’s April-June quarter (Q1FY21) earnings came in-line with Street estimate. The company reported a 3.9 per cent increase in consolidated net profit at Rs 275.1 crore in the June 2020 quarter. Its net profit stood at Rs 264.6 crore in the year-ago period, Mphasis said in a regulatory filing. The company’s revenue from operations grew 10.9 per cent to Rs 2,288.2 crore in the quarter under review from Rs 2,062.5 crore in the year-ago period. The company announced new TCV (total contract value) wins of USD259m in 1QFY21 in Direct International. This is the highest ever TCV win for a quarter for Mphasis and comprises one large deal win of over USD100m TCV. Read more

Bajaj Auto Q1 net profit plunges 53 per cent YoY to Rs 528

Bajaj Auto Q1 net profit plunges 53 per cent YoY to Rs 528
Wednesday, July 22, 2020
The Pune based two-wheeler major Bajaj Auto on Wednesday reported a standalone net profit of Rs 528 crore for the April-June quarter of FY21 (Q1FY21), down 53 per cent, from a profit of Rs 1,125.67 crore in the year-ago period, dented by lower volumes but the operating performance was ahead of analysts estimates. Sequentially, the profit tumbled 60 per cent from Rs 1,310.29 crore posted in the March quarter of FY20. Revenue from operations fell 60.3 per cent year-on-year to Rs 3,079.24 crore in the quarter ended June 2020, hit by lower sales volumes. Bajaj Auto said it sold 4,43,103 units during the first quarter against 12,47,174 units in the year-ago period. On a consolidated basis, the net profit was Rs 395.5 crore, down from Rs 1,012.16 crore clocked in Q1FY20. The company’s EBITDA (earnings before interest, tax, depreciation and amortisation) came to Rs 441 crore in the June quarter, while margin came in at 14.3 per cent. Read more

Bajaj Finance Q1 Results:Profit falls 19% YoY to Rs 962 crore

Bajaj Finance Q1 Results:Profit falls 19% YoY to Rs 962 crore
Tuesday, July 21, 2020
NBFC major Pune based Bajaj Finance on July 21 reported a 19 per cent year-on-year (YoY) fall in consolidated net profit at Rs 962.32 crore for the quarter ended June 30. It had posted a net profit of Rs 1,195.25 crore in the corresponding quarter last year. The Pune-based company's net interest income rose 12% over the year-ago period to Rs 4,152 crore, against the Rs 3,637-crore forecast. Bajaj Finance made additional contingency provisions worth Rs 1,450 crore for Covid-19, taking the overall contingency provision to Rs 2,350 crore during the quarter. Consolidated revenue for the quarter came in at Rs 6,648.2 crore rising 14.5 per cent over Rs 5,805.5 crore in the corresponding period the previous year. Consolidated asset under management of the company increased 7 per cent YoY to Rs 1,38,055 crore during the quarter. Read more

Muthoot Finance shares jump 19 per cent after Q4 earnings

Muthoot Finance shares jump 19 per cent after Q4 earnings
Thursday, June 18, 2020
Shares of the Kerala-based lender Muthoot Finance on Thursday jumped 19 per cent after the company reported a 52.4 per cent jump in consolidated net profit at Rs 835.78 crore in the last quarter of the fiscal ended March 2020, due to higher demand for gold loans. The company had posted a net profit of Rs 548.56 crore during the corresponding quarter of fiscal ended March 2019. The Company's asset under management grew 22% year-on-year and a 15% fall in provisions helped boost net profit. The fall in provisions is a fallout of a drop in bad assets. Performance for the last year has been good for the company because of the strong performance of the gold loan business, it said. Its total income during March quarter of FY20 rose to Rs 2,633.58 crore from Rs 2,088.84 crore in the year-ago period, MFIN said in a regulatory filing. For the fiscal year 2019-20, the company reported a 51 per cent jump in consolidated net profit at Rs 3,168.68 crore as against Rs 2,102.96 crore in 2018-19. Read more

SBI Q4 profit jumps 4-fold to Rs 3,581 crore on one-time gain from SBI Cards

SBI Q4 profit jumps 4-fold to Rs 3,581 crore on one-time gain from SBI Cards
Friday, June 5, 2020
The Country's largest lender State Bank of India on Friday reported an over four-fold jump in net profit at Rs 3,580.81 crore for the March quarter compared with Rs 838.40 crore in the same quarter last year supported by a one-time gain of Rs 2,731.34 crore from the stake sale in SBI Cards done during the quarter. The profit grew 326.93 per cent from Rs 838 crore clocked in the year-ago quarter. On a consolidated basis, the bank’s net profit came in at Rs 6,909.95 crore. Total provisions and contingencies for the quarter fell to Rs 13,495 crore compared with Rs 16,501.8. For the full year FY20, net profit stood at Rs 14,488 crore, as against a net profit of Rs 862 crores in FY19. This was the bank's highest-ever yearly profit. Net interest income declined 0.8 per cent year-on-year to Rs 22,766 crore in the quarter ended March 2020 due to moderate loan growth at 6.4 per cent YoY. Domestic net interest margin dipped to 2.94 per cent in Q4FY20, down 8 bps YoY and 65 bps QoQ. Read more

Britannia share price rises 7% after gain in Q4 profit

Britannia share price rises 7% after gain in Q4 profit
Wednesday, June 3, 2020
Shares of Britannia Industries gained over 7 per cent to hit a new high of Rs 3,704.55 apiece on the BSE on Wednesday after the company reported a consolidated profit of Rs 374.75 crore for March quarter, an increase of 26.1 per cent year-on-year growth driven by lower tax cost, largely in-line numbers despite the lockdown hitting revenue and profit growth by 7-10 per cent. It had posted profit at Rs 297.23 crore in the corresponding period last fiscal. Britannia's profit before tax (PBT) stood at Rs 457.27 crore for Q4 — a marginal rise of 1.6 per cent year-on-year (YoY). Revenue from operations for the quarter grew by 2.5 per cent year-on-year to Rs 2,867.7 crore as sales volumes took a beating due to the nationwide lockdown. The stock has gained 13 per cent in the last 5 days. Read more

IDBI Bank shares jump 20% after profitable quarter

IDBI Bank shares jump 20% after profitable quarter
Monday, June 1, 2020
Shares of IDBI Bank hit 20 per cent upper circuit at Rs 24.35 per share on Monday after the bank reported a profit in the March quarter of FY20 after reporting losses for 13 straight quarters. The lender posted a profit of Rs 135 crore for the March quarter on account of recoveries from bad loans. It had posted a net loss of Rs 4,918 crore in the corresponding period of last year. Total income rose to Rs 6,925 crore as against Rs 6,616 in the fourth quarter of 2018-19. The Bank posted a profit before tax (PBT) of Rs 289.66 crore for March 2020 on healthy rise in net interest income and a sharp drop in provisions and contingencies. The bank had posted a loss before tax of Rs 7,136 90 crores in quarter ended March 2019 (Q4FY19).IDBI said net interest income (NII) improved by 46 per cent to Rs 2,356 crore for March quarter compared with Rs 1,609 crore last year same period. The bank made COVID-19-related provisions of Rs 247 crore during the quarter against standard assets. Read more

Ujjivan Financial Services shares surge 13% on strong Q4 earnings

Ujjivan Financial Services shares surge 13% on strong Q4 earnings
Thursday, May 28, 2020
The share price of Ujjivan Financial Services rallied 13 per cent on Thursday after the company reported a jump of 80 per cent in its consolidated net profit to Rs 77.43 crore in the March quarter. The company had posted a net profit of Rs 43.15 crore during the same quarter last year. Its consolidated income during the quarter rose to Rs 805.20 crore as against Rs 590.01 crore in the same period a year ago. Sales of the company rose 38.2 per cent to Rs 786.49 crore in the quarter ended March 2020 as against Rs 569.11 crore during the previous quarter ended March 2019. The board of directors had proposed a final dividend at the rate of Rs 0. 80 per share (8 per cent) for the FY2019-20, Ujjivan Financial Services said. The stock touched the upper circuit of Rs 172. It was trading with volumes of 774,788 shares, compared to its five day average of 227,156 shares, an increase of 241.08 per cent. Read more

Colgate Palmolive Q4 profit rises 3.3% to Rs 204 crore

Colgate Palmolive Q4 profit rises 3.3% to Rs 204 crore
Thursday, May 21, 2020
Colgate-Palmolive on Thursday posted a 3.32 per cent year-on-year rise in net profit at Rs 204.15 crore for the quarter ended March 31 compared to Rs197.6cr for the same quarter of the previous year, due to falling in total expenditure. The company reported a 7.40 per cent YoY drop in net sales at Rs 1,062.4 crore with 8 per cent YoY decline in volumes due to the ongoing Covid-19 situation. For FY20, net profit was at Rs816.5cr as against the Rs775.6cr for the previous year. The company also declared a second interim dividend of Rs 16 per share amounting Rs 435.18 crore, the total dividend would be Rs 28 per share for the year 2019-20, said Colgate and will be paid on or after June 16, 2020, to those shareholders whose names are on the Register of Members of the Company as on June 2, 2020. Read more

L&T Infotech share price jumps 10% on good Q4 profit

L&T Infotech share price jumps 10% on good Q4 profit
Wednesday, May 20, 2020
Shares of Larsen & Toubro (L&T) Infotech gained 10 per cent to Rs 1,834 on the BSE on Wednesday after the firm reported a 12.9 per cent rise in net profit to Rs 427.5 crore for the quarter ended March 2020 compared to Rs 378.5 crore in the corresponding period. Revenue in Q4 stood at Rs 3,011.9 crore, up 21.2 per cent YoY against Rs 2,486 crore in the corresponding period last year. L&T Infotech reported a marginal increase of 0.3 per cent in its net profit at Rs 1,520.5 crore compared to Rs 1,515.5 crore in the previous fiscal. The company registered a revenue of Rs 10,878.6 crore, up 15.2 per cent YoY. The company's board also recommended a final dividend of Rs 15.50 per equity share of the face value of Re 1 each. The company won two large deals in Q4 with net-new TCV in excess of $100 million, culminating in a record eight large deal wins in FY20. Read more

Biocon Q4 results: Profit down 42%

Biocon Q4 results: Profit down 42%
Friday, May 15, 2020
Shares of Biocon Limited dropped 9% to Rs 320 on the BSE on Friday after the biotechnology major's net profit declined 42.2 per cent year-on-year (YoY) to Rs 123 crore in the fourth quarter of FY20 (Q4FY20), down from Rs 214 crore at the end of the December quarter. Consolidated net profit for the fiscal year ended March this year stood at Rs 748 crore down from Rs 905 crore a year ago. Biocon’s consolidated revenue for the same period grew 6% to Rs 1,644 crore. The scrip was trading at a price of Rs 359 per share last Friday and it hit an intraday low of Rs 320 this Friday due to disappointing Q4 result. The firm's profit before tax (PBT) declined 28.2 per cent to Rs 204 crore during the quarter when compared with the corresponding quarter of the previous financial year. The Bengaluru-headquartered company said its biologics business has taken a beating due to one-time Covid-19 related impact during the quarter. Read more

Maruti Suzuki Q4 profit falls 28% to Rs 1,292 crore

Maruti Suzuki Q4 profit falls 28% to Rs 1,292 crore
Wednesday, May 13, 2020
The country's largest car manufacturer, Maruti Suzuki reported its March quarter profit of Rs 1,291.7 crore, down by 28.1 per cent YoY due to lower sales during the lockdown, while the company had reported a profit of Rs 1,795.6 crore for March quarter previous year. Revenue dipped 15.2 per cent to Rs 18,207.7 crore. The company had posted revenue of Rs 21,473.1 crore. The sharp fall in tax cost limited the profit decline."Profit was lower on account of lower sales volume, higher sales promotion expenses, partially offset by lower operating expenses, cost reduction efforts and reduction in the corporate tax rate," said the company in its BSE filing. Maruti sold a total of 385,025 vehicles,the company's domestic volumes in Q4 fell by 16 percent YoY and exports fell 17 per cent compared to same period last year, especially after nationwide lockdown in last 10 days of March and amid slowdown in overall sector.

Bandhan Bank Q4 results:Profit falls 20% to Rs 517 crore

Bandhan Bank Q4 results:Profit falls 20% to Rs 517 crore
Tuesday, May 12, 2020
Private sector lender Bandhan Bank on Tuesday posted 29 per cent quarter-on-quarter (QoQ) fall in net profit at Rs 517.28 crore for the quarter ended March 31 and 20.5 per cent year-on-year degrowth in Q4 FY20 profit due to over two-fold rise in provision and contingencies. Profit for the quarter dropped to Rs 517.3 crore, against Rs 650.9 crore in the same period last year. Provisions and contingencies increased to Rs 827.36 crore during the quarter under review against Rs 294.88 crore in the preceding quarter ended December 2019.Net interest income for the quarter grew sharply by 33.6 per cent year-on-year to Rs 1,680 crore, with advances rising by 60.46 per cent (to Rs 71,846 crore). Asset quality of the company improved with the percentage of gross non-performing assets coming at 1.48 per cent in Q4FY20 over 1.93 per cent in December quarter.

YES Bank shares gains 20% on surprise Q4 profit

YES Bank shares gains 20% on surprise Q4 profit
Thursday, May 7, 2020
Shares of YES Bank gained 20 per cent to Rs 31.36 on the BSE in the intra-day deals on Thursday after the private lender reported better-than-expected March quarter (Q4FY20) results. Around 2058017 shares changed hands on the counter. The private lender YES Bank posted a net profit of Rs 2,628.6 crore on the back of on-time gain attributed to an exceptional item of Rs 6,296 crore. The bank had reported a net loss of Rs 1,506.4 crore a year ago. The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 40709.20 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 11114.72 Crore (.00% of total assets). The bank’s net interest income (NII) for the March quarter came in at Rs 1,274 crore, up 19.56 per cent sequentially. The income, however, tanked 49 per cent The earnings were better than what most of the analysts had expected. Kotak Securities, estimated the private lender to log net loss at Rs 4,404.4 crore in the quarter under review.

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