Indian Oil Corporation (IOC): It reported a 2.1 per cent rise in net profit in the second quarter of the current fiscal as lower inve🍷ntory gains offset be𒈔tter operational performance.
Net profit♐ of Rs 6,360.05ꦯ crore, or Rs 6.93 a share, in July-September, compared with Rs 6,227.31 crore, or Rs 6.78 per share, in the same period a year back, according to the company's filing to the stock exchanges.
Sequentially, net profit was higher than Rs 5,941.37 crore earned i꧂n the April-J🦋une quarter.
Revenue rose 46 per cent to Rs 1.69 lakh crore as internation🀅al oil prices rose to multi-year 𝓀highs.
Better operational performance was also 💃offset by higher expenses, which jumped by almost 50 per cent in July-September. IOC also said its board approved an interim dividend of 50 per cent (Rs 5 per equity share) for the year 2021-22.
For the second quarter of FY 2021-22, the company's produ𝓡c💙t sales volumes, including exports, stood at 20.181 million tonnes.
IDFC First Bank: The bank on Saturday reported a nearly 50 per c🍃ent jump in standalone net profit at💫 Rs 151.74 crore for the quarter ended September 2021.
It had posted a net profit𝐆 of Rs 101.41 crore in the same quarter a year ago. Sequentially, there was a ne﷽t loss of Rs 630 crore in the quarter ended June 2021.
Total income during the July-September period of FY22 rose to Rs 4,880.29 crore, as against Rs 4,090.87 crore in the 🍷same quarter of FY21ಞ, it said in a regulatory filing.
Thཧe interest income stood at Rs 4,100.58 crore,♐ up from Rs 3,924.86 crore.
NII (net interest income) grew by 27 per cent on a year-on-year ba🧜sis to reach Rs 2,272 crore in Q2 FY22, the bank said.
On a consolidated basis, the bank posted a net profit of Rs 110.95 crore, slightl🔜y up from Rs 109.03 crore earlier. Total income rose to Rs 4,830.14 crore fro🍒m Rs 4,090.91 crore.
Finolex Industries: The company reported 89.9 per cent rise in consolidated ne꧅t profit at Rs 233.25 crore for the second quarter ended September 30, 2021.
It had posted a net profit of Rs 122.83 crore for the July-Septemb🔜er period last financial year, Finolex Industries said in a regulatory filing.
Total revenue from operations was 𝓀higher at Rs 1,082.95 crore during the quarter under review. It was at R🦩s 585.55 crore in the year-ago period.
The company has the highest ever Q2 and H1(A🎉pril-September) results and reported a significant improv🍒ement in operational performance, it said in a post result investors presentation.
Total expenses were 🅰at Rs 802.51 crore as against Rs 460.89 crore. Revenue from PVC segment was at Rs 65𓆏4.34 crore as against Rs 367.83 crore.
PVC Pipes & Fittings segment reven🍌ue was at Rs 899.63 crore as compared with Rs 500.83 crore in the year-ago period
DCB Bank: The bank Saturday reported 21 per cent fall in 💝its net profit at Rs 64.94 crore in quarter ended September 2021 of this fiscal.
It had registered a net profit of Rs 82.29 crore in the same quart💃er of thꦯe previous fiscal year.
Total income during the July-September period of 2021-22 was up slightly at Rs 967 crore from Rs 959.33 crore in the same peri🧸od of 2020-21, DCB Bank said in a regulatory filing.
However, the bank's income from interest was doℱwn at Rs 869.27 crore in the repor💛ted quarter, as against Rs 878.45 crore in the year-ago period.
There was a dent in the bank's asset quality,ꦺ as gross non-performing assets (NPAs) were up 4.68 per cent of the gross advances by end of September 2021 from 2.27 per cent in the year-ago period. It was down from 4.87 per cent by end of June 2021.
Likewise, net NPAs (orꦏ bad loans) too rose to 2.63 per cent from 0.83 per cent.
🎀In absolute terms, gross NPAs were worth Rs 1,284.93 core as against Rs 573.70 crore, whil🥂e net NPAs were of Rs 706.95 crore, up from Rs 205.77 crore.
(With PTI Inputs)
