Page 101 - Q3 Results

ICICI Bank Q3 net profit jumps 23.6% to Rs 10,272 cr, NII up 13.4%

Net Interest margins dip on rise in cost of deposits; makes Rs 627 crore provision to AIF exposure

IDFC First Bank Q3 net profit rises 18% to Rs 716 cr, total income jumps

Private sector lender IDFC First Bank on Saturday reported an 18 per cent growth in net profit to Rs 716 crore in the third quarter ended December 31, 2023, on the back of improved interest income. The bank had earned a net profit of Rs 605 crore in the October-December quarter of 2022. The total income of the bank increased to Rs 9,396 crore in the quarter as compared to Rs 7,064 crore in the December quarter of the previous fiscal, IDFC First Bank said in a regulatory filing. The bank's interest income improved during the third quarter of the current fiscal to Rs 7,879 crore, as against Rs 5,912 crore in the same period last fiscal. The gross non-performing asset (NPA) ratio improved to 2.04 per cent as on December 31, 2023, as against 2.95 per cent as on December 31, 2022. Similarly, the net NPA also declined to 0.68 per cent as compared to 1.03 per cent at the end of December 2022. However, provisions and contingencies rose to Rs 655 crore in the December quarter from Rs 450

Kotak Mahindra's Q3 consolidated net up 6.76% at Rs 4,265 cr; NII jumps 16%

On a standalone basis, the net profit for the reporting period was up 7.62 per cent to Rs 3,005 crore, attributed to a sharp rise in provisions

J&K Bank Q3 net profit jumps 35% to Rs 421 crore as bad loans decline

J&K Bank on Saturday reported a 35 per cent rise in net profit to Rs 421 crore in the third quarter ended on December 2023 on the back of a decline in bad loans and improvement in core income. The bank had earned a net profit of Rs 311 crore in the October-December quarter of 2022. The total income of the bank increased to Rs 3,063 crore in the quarter as compared to Rs 2,682 crore in the December quarter of the previous fiscal, J&K Bank said in a regulatory filing. The bank's interest income rose during the third quarter of the current fiscal to Rs 2,881 crore, as against Rs 2,441 crore in the same period last fiscal. The gross non-performing asset (NPA) ratio improved to 4.84 per cent as of December 31, 2023, as against 7.25 per cent as of December 31, 2022. Similarly, the net NPA also declined to 0.63 per cent as compared to 2.08 per cent at the end of December 2022. Provision coverage ratio as of December 31, 2023, is 91.61 per cent without taking into account the floating

JK Cement Q3 net profit rises multi-fold to Rs 283.81 cr, revenue up 20%

JK Cement Ltd on Saturday posted a sevenfold increase in consolidated net profit to Rs 283.81 crore for the December quarter. The company had posted a profit of Rs 37.15 crore in the year-ago period, JK Cement said in a regulatory filing. Its revenue from operations rose 20.47 per cent to Rs 2,934.83 crore during the quarter under review from Rs 2,436.09 crore a year ago, it said. JK Cement's total expenses rose 7.5 per cent in the third quarter of the ongoing fiscal to Rs 2,564.29 crore. The company's total income was at Rs 2,973.28 crore, up 21.12 per cent.

IREDA posts 67% rise in profit at Rs 355 crore in Oct-Dec quarter

State-owned IREDA on Saturday posted a 77 per cent rise in net profit at Rs 355.54 crore during the quarter ended December 2023, pushed by higher income. It had clocked Rs 200.75 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. During the quarter under review, the company's total income surged to Rs 1,253.19 crore, from Rs 868.97 crore a year ago. Its expenses were Rs 867.05 crore in the period under review, as against Rs 634.27 crore in the year-ago period. The equity shares of the company were listed on BSE and National Stock Exchange on November 29, 2023. IREDA, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.

ICICI Bank's Q3 profit at Rs 10,272 cr on account of strong loan growth

Indian lenders have been reporting double-digit loan growth consistently over the past few months owing to higher demand, but rising deposit costs have squeezed their margins

Sensex falls 260 pts in fag-end, Nifty holds 21,550; FMCGs crack, PSBs soar

Stock market highlights on January 20, 2024: Among sectors, the Nifty IT, and FMCG indices fell 1 per cent each, while the Nifty PSU bank index added 1.9 per cent

IDBI Bank Q3 net profit jumps 57% to Rs 1,458 cr on better interest income

IDBI Bank on Saturday reported a 57 per cent growth in net profit to Rs 1,458 crore in the third quarter ended December 31, on lower provisioning and better interest income. The LIC-controlled bank had a net profit of Rs 927 crore in the October-December quarter of 2022. The bank's interest income improved during the third quarter of the current fiscal to Rs 6,541 crore, as against Rs 5,231 crore in the same period last fiscal. The gross non-performing asset (NPA) ratio improved to 4.69 per cent as on December 31, 2023, as against 13.82 per cent as on December 31, 2022. Similarly, the net NPA also declined to 0.34 per cent, as compared to 1.08 per cent at the end of December 2022. As a result provisioning and contingencies came down to Rs 320 crore in the December quarter, from Rs 784 crore in the same quarter of the last fiscal. Provision Coverage Ratio (including Technical Write-Offs) stood at 99.17 per cent as on December 31, 2023. During the quarter Capital Adequacy Ratio of

Union Bank of India net profit surges 60% to Rs 3,590 crore in Q3

State-owned Union Bank of India on Saturday posted a 60 per cent jump in net profit to Rs 3,590 crore for the December quarter on the back of lower provisioning and better interest income. The bank had reported a net profit of Rs 2,249 crore in the year-ago period, Union Bnak of India said in a regulatory filing. The total income of the bank increased to Rs 29,137 crore during the third quarter of the ongoing fiscal as compared to Rs 24,154 crore a year ago, the filing said. The bank's interest income improved during the third quarter of the current fiscal to Rs 25,363 crore, as against Rs 20,883 crore a year ago, it said. The bank's gross Non-Performing Asset (NPA) ratio improved to 4.83 per cent as on December 31, 2023 as against 7.93 per cent a year ago. Similarly, the net NPA also declined to 1.08 per cent as compared to 2.14 per cent at the end of December 2022. Provisioning for bad loans came down to Rs 1,226 crore during the quarter under review from Rs 2,443 crore on the

Hindustan Unilever slips 3%; hits 2-month low post December quarter results

The company said weak rural consumer sentiment and delayed winter were behind its underwhelming performance.

Stocks to Watch on Jan 20: RIL, Paytm, ICICI Bank, Prataap Snacks, RBL Bank

Stocks to Watch on Saturday, January 20, 2024: RIL, on Friday, reported a 9.3 per cent year-on-year (Y-o-Y) increase in its consolidated net profit, at Rs 17,265 crore, for Q3FY24

Hindustan Zinc Q3FY24 results: Net profit down 6% at Rs 2,028 crore

For Q3FY24, Hindustan Zinc reported a consolidated net profit of Rs 2,028 crore, down 6 per cent from a year ago

Paytm trims losses to Rs 221.7 crore, revenue from operations zooms 38%

Paytm's expenses have increased 9.5 per cent Q-o-Q to Rs 3,216.3 crore in Q3FY24 from Rs 2,936.7 crore in Q2FY24. On a Y-o-Y basis, expenses rose 27.5 per cent from Rs 2,522.3 crore

Jio Platforms Q3 net profit rises 11.6% on strong subscriber growth

ARPU stays put at ~181.7, same as in Q2

Reliance Retail Q3 results: Net profit surges 32% to Rs 3,165 crore

Reliance Retail continued to expand and added 252 new stores in the quarter and also saw its footfalls cross 282 million across formats

Weak rural demand a drag on HUL's Q3 showing; profit flat at Rs 2,509 cr

According to Bloomberg, analysts had pegged HUL's revenue at Rs 15,642.2 crore and net profit at Rs 2,572.7 crore for Q3 FY24

Reliance Industries Q3 results: Net profit up 9.3%, misses estimates

Weak energy segment offsets profit growth in consumer business

Near-term margin pressures to persist for Tata Communications stock

The consolidated operating profit grew 12 per cent Q-o-Q to Rs 1,130 crore led by Kaleyra, which turned the operating profit positive

Central Bank of India Q3 results: Profit jumps 57% to Rs 718 crore

The state-owned Central Bank of India on Friday posted a 57 per cent increase in its profit at Rs 718 crore in the third quarter ended December 2023. The bank had earned a net profit of Rs 458 crore in the same quarter a year ago. Total income increased to Rs 9,139 crore during the quarter under review against Rs 7,636 crore in the same period last year, the Central Bank of India said in a regulatory filing. However, the net interest income of the bank declined to Rs 3,152 crore during the quarter compared to Rs 3,285 crore in the same period a year ago. Bank's gross Non-Performing Assets (NPAs) declined to 4.50 per cent of the total loans at the end of December 2023 from 8.85 per cent a year ago. Net NPAs or bad loans also came down to 1.27 per cent from 2.09 per cent at the end of the third quarter of the previous fiscal.