Advertisement
Saturday, May 21, 2022
Outlook.com
Outlook.com

Q2 Results: IOC, IDFC First Bank, Finolex Industries, DCB Bank, More. Check Who Reported Profit And Loss

IOC reported a 2.1 per cent rise in net profit in the second quarter of the current fiscal as lower inventory gains offset better operational performance.

Q2 Results: IOC, IDFC First Bank, Finolex Industries, DCB Bank, More. Check Who Reported Profit And Loss
Q2 Results: IOC, IDFC First Bank, Finolex Industries, DCB Bank, More. Check Who Reported Profit And Loss
outlookindia.com
2021-10-31T09:35:54+05:30

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 inventory gains offset better operational performance.

Net profit of Rs 6,360.05 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 in the April-June quarter.

Revenue rose 46 per cent to Rs 1.69 lakh crore as international oil prices rose to multi-year highs.

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 product sales volumes, including exports, stood at 20.181 million tonnes. 

IDFC First Bank: The bank on Saturday reported a nearly 50 per cent jump in standalone net profit at Rs 151.74 crore for the quarter ended September 2021.

It had posted a net profit of Rs 101.41 crore in the same quarter a year ago. Sequentially, there was a net 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 FY21, it said in a regulatory filing.

The 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 basis 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, slightly up from Rs 109.03 crore earlier. Total income rose to Rs 4,830.14 crore from Rs 4,090.91 crore.

Finolex Industries: The company reported 89.9 per cent rise in consolidated net 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-September period last financial year, Finolex Industries said in a regulatory filing.

Total revenue from operations was higher at Rs 1,082.95 crore during the quarter under review. It was at Rs 585.55 crore in the year-ago period.

The company has the highest ever Q2 and H1(April-September) results and reported a significant improvement 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 654.34 crore as against Rs 367.83 crore.

PVC Pipes & Fittings segment revenue 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 quarter of the 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 period of 2020-21, DCB Bank said in a regulatory filing.

However, the bank's income from interest was down at Rs 869.27 crore in the reported 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 (or 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, while net NPAs were of Rs 706.95 crore, up from Rs 205.77 crore.

(With PTI Inputs)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement