Public lender State Bank of India on Friday posted a profit of Rs 838.40 crore for March quarter against a loss of Rs 7,718.17 crore in the corresponding quarter last year. Analysts in an ET NOW poll had projected a profit of Rs 4,890 crore. Asset quality of the lender improved with percentage of gross non-performing assets (NPAs) easing to 7.73 per cent from 8.71 per cent on a sequential basis. Net NPA improved QoQ to 3.01 per cent from 3.95 per cent.
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Public lender State Bank of India on Friday posted a profit of Rs 838.40 crore for March quarter against a loss of Rs 7,718.17 crore in the corresponding quarter last year. Analysts in an ET NOW poll had projected a profit of Rs 4,890 crore. Asset quality of the lender improved with percentage of gross non-performing assets (NPAs) easing to 7.73 per cent from 8.71 per cent on a sequential basis. Net NPA improved QoQ to 3.01 per cent from 3.95 per cent.
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SBI used to charge Rs. 2 for fund transfers up to Rs. 10,000 through NEFT using internet or mobile banking modes. Now that has been reduced to Rs 1 (excluding 18 per cent GST). For NEFT transactions from Rs 10,000 to Rs 1 lakh, the charge has been reduced to Rs. 2 from Rs. 4 earlier. Similarly, SBI has revised its fees for fund transfers between Rs 2 lakh and Rs 5 lakh through RTGS on its net and mobile banking platform, to Rs 5. This charge was Rs 20 earlier.
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Oil-to-telecom giant Reliance Industries on Thursday reported 8.82 per cent year-on-year (YoY) rise in consolidated profit at Rs 10,251 crore. Analysts in an ET Now poll had estimated the profit at Rs 9,540 crore.
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Country’s biggest carmaker Maruti Suzuki on Friday posted 17.21 per cent year-on-year dip in profit at Rs 1,489.30 crore for the quarter ended December 31. The firm had posted a profit of Rs 1,799 crore in the corresponding quarter last year.
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Engineering and construction major Larsen & Toubro Friday posted a 37 percent growth in its net income at Rs 2,042 crore on a robust 24 percent uptick in revenue at Rs 35,709 crore for the three months to December. At Rs 11,476 crore, its international revenue constituted 32 percent of the overall revenue, it said, adding during the quarter it secured orders worth Rs 42,233 crore at the group level.
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India’s largest IT firm TCSNSE -0.25 % on Friday reported a 17.70 per cent year-on-year (YoY) jump in March quarter profit at Rs 8,126 crore, which was better than Rs 7,981 crore estimated by analysts in an ET NOW poll. The IT major had reported Rs 6,904 crore profit in the same quarter a year ago.
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Asian Paints on Thursday reported a 1.6 per cent year-on-year fall in consolidated profit after minority interest at Rs 473.11 crore, falling short of Rs 595 crore projected by analysts in an ET NOW poll. The paints company had reported Rs 480.99 crore profit in the corresponding quarter last year. Consolidated revenue from operations rose 11.7 per cent to Rs 5,018.21 crore from Rs 4,492.30 crore in the year-ago quarter.
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Drug major Cipla Wednesday reported over two-fold jump in consolidated net profit to Rs 357.68 crore for the fourth quarter ended March 31, mainly on account of robust sales across markets. The company has also decided to raise funds of up to Rs 6,000 crore. It had posted a net profit of Rs 153.25 crore for the corresponding period previous fiscal, Cipla said in a BSE filing. For the 2018-19 fiscal, the company's net profit was Rs 1,492.44 crore as against Rs 1,416.57 crore in 2017-18.
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