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Tata Steel in focus after announcing Q1 results

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On a consolidated basis, reported net profit of Rs 921.09 crore in Q1 June 2017 compared with net loss of Rs 3183.07 crore in Q1 June 2016. Net sales rose 18.9% to Rs 29386.76 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 7 August 2017.

Karur Vysya Bank announced the revision in Marginal Cost of Funds Based Lending Rates (MCLR) of the bank effective from 7 August 2017. The announcement was made after market hours yesterday, 7 August 2017.

MCLR for overnight loans will be 8.75%, the rate for one month will be 8.75% and for three months it will be 8.75%. The MCLR on 6-month loans will be 8.9% and for one-year loans the rate will be 9.1%, the bank said.

Polar Consulting Services' consolidated net profit fell 8.6% to Rs 30.2 crore on 2.4% decline in net revenue to Rs 554.90 crore in Q1 June 2017 over Q4 March 2017. The announcement was made after market hours yesterday, 7 August 2017. Revenue declined on the backdrop of currency appreciation.

Profit declined due to lower operating profit and unfavorable currency movements. Profit was impacted due to proactive hiring and account level investments made for supporting future growth.

Merck's net profit fell 11.65% to Rs 20.12 crore on 4.33% decline in total income to Rs 271.07 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 7 August 2017.

Nilkamal's net profit fell 29.4% to Rs 22.37 crore on 5.8% growth in net sales to Rs 487.59 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 7 August 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 08 2017. 07:58 IST
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