Top headlines: Sun Pharma posts profit in Q1; Bandhan Bank Q1 net falls 32%

Business Standard brings you the top headlines on Friday

Bandhan Bank Q1 net profit falls 32% to Rs 373 cr, asset quality weakens

Bandhan Bank on Friday reported 32 per cent decline in net profit at Rs 373.10 crore for June quarter 2021-22 as provisions for bad loans spiked.

The bank had posted a net profit of Rs 549.80 crore in the same quarter a year ago. Read more

Vedanta starts winding-off operations at oxygen plant in Tuticorin

Vedanta Ltd on Friday said its oxygen plant at its copper smelting unit, Sterlite Copper, in Tamil Nadu's Thoothukodi will start winding-off of operations.

According to Vedanta, the start of winding-off operations on Friday is done to allow enough time for the defrosting process before the date indicated by the Supreme Court. Read more

European economy grows 2% in second quarter, ending double-dip recession

Europe emerged from a double-dip recession in the second quarter with stronger than expected growth of 2% over the quarter before, according to official figures released Friday, as hard-hit southern European economies Spain, Italy and Portugal delivered surprisingly strong results.

But the economy in the 19 countries that use the euro currency still lagged pre-pandemic levels and trailed the faster recoveries in the US and China, with the delta variant continuing to cast a shadow of uncertainty over the upturn. Read more

Sun Pharma posts consolidated net profit of Rs 1,444 crore in Q1

Drug major Sun Pharmaceutical Industries on Friday reported a consolidated net profit of Rs 1,444.17 crore for the June 2021 quarter, mainly on account of robust sales across markets.

The company had posted a net loss of Rs 1,655.60 crore for the corresponding period of the previous fiscal, Sun Pharma said in a regulatory filing. Read more