Explore Business Standard
State-owned Bank of Maharashtra (BoM) on Tuesday reported 23 per cent increase in net profit to Rs 1,593 crore during the first quarter, helped by decline in bad loans and improvement in interest income. The Pune-based lender had posted a net profit of Rs 1,293 crore in the April-June period of the previous year. Total income in the quarter under review rose to Rs 7,879 crore from Rs 6,769 crore in the same period a year ago, BoM said in a regulatory filing. Interest earned by the bank grew to Rs 7,054 crore as compared to Rs 5,875 crore in June quarter FY25. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 1.74 per cent of gross advances at the end of June quarter FY26 from 1.85 per cent a year ago. Similarly, net NPAs or bad loans declined to 0.18 per cent as against 0.20 per cent in the year-ago period. Capital adequacy ratio of the bank rose to 20.06 per cent from 17.04 per cent in the same quarter of FY25.
Kalyan Jewellers on Monday reported a 31 per cent year-on-year increase in consolidated revenue for the first quarter of the fiscal 2025-26, despite multiple pauses in demand, majorly due to volatility in gold prices and geopolitical tensions. The company had reported a consolidated net revenue of Rs 5,557.63 crore in the first quarter (April-June) of the 2024-25 fiscal. India operations saw 31 per cent revenue growth during Q1 of the fiscal 2025-26 compared to Q1 of the previous year, the company said in a regulatory filing. The revenue from global operations was up 31 per cent and contributed 15 per cent to the consolidated revenue in Q1. The revenue from Middle East operations was up 26 per cent driven predominantly by same-store-sales growth, while the digital platform Candere recorded 67 revenue growth during Q1 of FY26. During Q1, the company opened 10 Kalyan showrooms and eight Candere showrooms in India and one Kalyan showroom in the US. The company has drawn up plans to