Page 91 - Q2 Results

Finolex Industries Q2 results: Net profit at Rs 97.96 cr, revenue down 6%

PVC pipes and fittings manufacturer Finolex Industries on Saturday reported a consolidated profit of Rs 97.96 crore for the quarter ending September 30. The company had posted a loss of Rs 95.38 crores during the corresponding quarter of the previous financial year, Finolex Industries said in a regulatory filing. Revenue from operations of the company, however, witnessed a decline of 6.16 per cent during the quarter under review at Rs 883.15 crores compared to Rs 941.13 crores in the same period of the previous fiscal. "Indian economy is displaying continued consumption-led growth in both the rural and the urban segments of the country. The pipes and fittings segment which plays an important role in contributing to economic growth has been growing strong on a year-on-year basis. The global PVC prices are near historic lows, which might bolster pipe and fittings demand once prices stablise," Finolex Industries Prakash P Chhabria Executive Chairman said. Shares of the company on Frid

ICICI Bank Q2 net profit rises 35.8% on lower provisioning, higher income

Bank reported 23.81% increase in net interest income

RBL Bank Q2 results: Net profit increases 46%, aided by rise in core income

Provisions rise amid strategic shift in advances

Kotak Mahindra Bank Q2 results: Net profit up 24%, aided by improved NIMs

The net interest income increased 23% to Rs 6,297 cr from Rs 5,099 cr a year ago

ICICI Bank Q2 results: Net profit jumps 36% to Rs 10,261 cr, NII up 24%

Private sector lender ICICI Bank on Saturday reported a 36 per cent rise in standalone net profit to Rs 10,261 crore for the September 2023 quarter, aided by an improvement in interest income. The Mumbai-based lender had posted a net profit of Rs 7,558 crore in the year-ago period. The total income in the second quarter of the current fiscal rose to Rs 40,697 crore from Rs 31,088 crore in the same period a year ago, ICICI Bank said in a regulatory filing. Interest earned by the bank improved to Rs 34,920 crore from Rs 26,033 crore in the September 2022 quarter. Its net interest income (NII) increased by 24 per cent year-on-year to Rs 18,308 crore in the quarter against Rs 14,787 crore in the corresponding quarter a year ago. At the same time, the net interest margin rose to 4.53 per cent compared to 4.31 per cent in the same period a year ago. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 2.48 per cent of gross advances at the end o

Hindustan Zinc Q2FY24 results: Net profit falls 35% to Rs 1,729 crore

Ebitda for the quarter, the company said, was at Rs 3,122 crore, down 28.8 per cent Y-o-Y

JSW Energy Q2 profit jumps 83% to Rs 850 crore on power demand surge

The company, part of billionaire Sajjan Jindal-led JSW Group, saw its consolidated net profit rise to Rs 850 crore in the quarter ending Sept. 30, compared with Rs 466 crore a year ago

JSW Steel reports Rs 2,760 crore net profit on the back of higher sales

The Bloomberg consensus estimate for revenue was Rs 42,539.9 crore and net income adjusted Rs 2,418.6 crore. Sequentially, revenue was up 4.93 per cent and net profit 18.04 per cent

Paytm trims losses to Rs 290 crore in Q2, total income increases 8%

The Noida-based fintech's total income rose 8 per cent on a quarter-on-quarter basis from Rs 2,464.2 crore in Q1FY24 to Rs 2,662.5 crore in Q2FY24

VerSe's revenue grew by 57% to Rs 1,809 cr; burn reduced by 34% in FY23

Its content platform Dailyhunt clocked a revenue of over Rs 1,200 crore and was Ebitda positive in FY23, with the financial year exiting at 10 per cent Ebitda

L&T Finance Holdings Q2 results: Net profit rises 46% to Rs 595 crore

Its net interest income rose by 11 per cent year-on-year to Rs 1,726 crore

L&T Finance net jumps 46% to Rs 595 crore on strong retail loan sales

L&T Finance Holdings on Friday reported a 46 per cent on-year growth in net income at Rs 595 crore for the September quarter on the back of record retail loan sales. It achieved the highest-ever quarterly retail disbursements of Rs 13,499 crore, a growth of 32 per cent on-year, the lender said in a release. Its retail portfolio mix now stands at 88 per cent of the total loan book, even as it continued to reduce the wholesale book by a steep 76 per cent on-year or by Rs 28,740 crore. Its asset quality improved with gross Non Performing Assets (NPAs) falling to 3 per cent from 3.82 per cent and net NPAs to 1 per cent from 1.14 per cent, L&T Finance Holdings managing director and chief executive Dinanath Dubhashi said. Net income from retail loans came in at Rs 606 crore, up 86 per cent, on the back of strong net interest margin of 12.16 per cent, which rose from 11.33 per cent leading to a reduction in credit cost to 2.74 per cent from 3.46 per cent. Retail loan book rose 33 per

Creditaccess Grameen Q2 results: Net profit nearly doubles to Rs 347 cr

Creditaccess Grameen on Friday said its net profit nearly doubled to Rs 347 crore in the September quarter, registering an on-year growth of 98.1 per cent driven by higher loan sales and resultant income. The country's largest microfinance lender said its total income increased 53.2 per cent to Rs 1,247.6 crore, boosted by a 49.6 per cent jump in net interest income to Rs 772 crore. The loan book rose 36 per cent to Rs 22,488 crore, while the borrower base grew 21.2 per cent to 46.03 lakh across 1,877 branches and collection efficiency improved to 98.7 per cent. Credit loss provisions declined 9 per cent from Rs 105.4 crore to Rs 95.9 crore, during the reporting quarter and the total expected credit loss provisions stood at Rs 343.2 crore or 1.60 per cent of the assets. Gross NPAs declined steeply to 0.77 per cent from 2.17 per cent, and net NPAs fell to 0.24 per cent from 0.77 per cent. During the quarter, the lender wrote-offs Rs 76.5 crore of loans. Its capital position remain

Central Bank of India Q2 results: Net profit rises 90.25% to Rs 605 crore

Its operating profit was down by 12.47 per cent to Rs 1,530 crore for Q2FY24 as against Rs 1,748 crore for Q2FY23

Poonawalla Fincorp's Q2 results: Net profit up 77% to Rs 230 crore

Net Interest Margin (NIM) saw an improvement of 106 basis points to 11.42 per cent from the year-ago period

KFin Technologies profit grows 28% to Rs 61 crore during Jul-Sept quarter

Tech-driven financial services firm KFin Technologies on Friday reported a 28 per cent surge in profit after tax (PAT) at Rs 61.4 crore in three months ended September. In comparison, the company had posted a PAT of Rs 47.92 crore in the same quarter preceding the fiscal, KFin Technologies said in a regulatory filing. The company's revenue from operations grew 16 per cent to Rs 209 crore during the quarter under review, as compared to Rs 180.16 crore in the July-September quarter of the preceding financial year (2022-23). For the quarter ended September 30, 2023, the company added 172 new corporate clients and four million investor folios under issuer solutions. "Our investment in next-generation technology and talent in the last four years is facilitating new client wins and process efficiencies across business segments which continue to aid faster growth in sales, expansion in margins and profitability," Sreekanth Nadella, Managing Director and CEO, KFin Technologies said. In th

Central Bank of India Q2 results: Net profit jumps 90% to Rs 605 crore

State-owned Central Bank of India on Friday reported a 90 per cent jump in net profit to Rs 605 crore for the September quarter on a healthy growth core income and a fall in bad loans. The bank had posted a net profit of Rs 318 crore in the year-ago period. During the quarter, total income rose to Rs 8,412 crore from Rs 7,065 crore a year ago, Central Bank of India said in a regulatory filing. Interest income during the September quarter grew to Rs 7,351 crore as against Rs 6,155 crore in the year-ago period. Net Interest Income (NII) grew 10.23 per cent to Rs 3,028 crore in the second quarter of the current fiscal as against Rs 2,747 crore a year ago. Gross non-performing assets (NPAs) reduced to 4.62 per cent of gross advances as of September 30. Net NPAs were also brought down to 1.64 per cent as compared to 2.95 per cent in the same period previous fiscal. As a result, provision and contingencies declined to Rs 967 crore as against Rs 1,125 crore in the same period a year ..

Poonawalla Fincorp reports 77% jump in net income at Rs 230 cr for Sept qtr

Poonawalla Fincorp on Friday reported a 77 per cent on-year jump in net income at Rs 230 crore for the September quarter driven by record loan sales and an improvement in asset quality. The Cyrus Poonawalla group company said this is the highest ever quarterly profit, which came on the back of the highest-ever quarterly disbursement that jumped 151 per cent to Rs 7,807 crore, taking the overall loan book to Rs 20,215 crore, which recorded a 54 per cent on-year growth. The record profit is driven by record loan sales and improvement in asset quality. Net bad loans declined to 0.72 per cent and there was a 106 bps rise in the key net interest margin to 11.42 per cent, the managing director Abhay Bhutada said in a statement. The gross Non-Performing Assets (NPAs) declined by 41 bps to 1.36 per cent, net NPAs improved by 22 bps to 0.72 per cent, the company said. The net interest margin jumped to 11.42 per cent, gaining 106 bps over the trailing 12 months period, leading to better ...

KFin Technologies Q2 profit up 28%; Softbank sells another 1.1% in Zomato

The financial services platform provides tech-driven solutions to the capital markets ecosystem including asset managers and corporate issuers

J&K Bank Q2 profit soars 57% to Rs 381 cr on growth in interest income

Jammu & Kashmir Bank on Friday reported a 57 per cent jump in net profit to Rs 381 crore for the September quarter on a healthy growth in interest income and a fall in bad loans. The bank had posted a net profit of Rs 243 crore in the year-ago period. During the quarter, total income rose to Rs 2,954 crore from Rs 2,445 crore a year ago, J&K Bank said in a regulatory filing. Interest income during the July-September quarter grew to Rs 2,764 crore as against Rs 2,299 crore in the same period a year ago. Gross non-performing assets (NPAs) were reduced to 5.26 per cent of gross advances as of September 30, 2023 over 7.67 per cent by the end of September 2022. Net NPAs were also brought down to 1.04 per cent as compared to 2.10 per cent in the same period previous fiscal.