Merger-bound HDFC on Thursday reported an 18 per cent growth in net income to Rs 4,454 crore in the September quarter from Rs 3780 crore a year ago, mainly driven by higher retail loan sales that hit an eight-year high of 36 per cent.
On a consolidated basis, the corporation reported a higher 24 per cent jump in net income to Rs 7,043 crore from Rs 5,670 crore, buoyed by higher dividends from the subsidiaries, which nearly doubled to Rs 2,046 crore from Rs 1,188 crore. However, the profit from the sale of investments declined to Rs 184 crore from Rs 263 crore. The corporation has reported a flat net interest margin of 3.4 per cent.
Hero MotoCorp profit
Hero MotoCorp on Thursday reported a 9 per cent decline in its consolidated net profit to Rs 682 crore for the second quarter ended September 30, mainly due to enhanced expenses and a slight dip in sales during the period. The two-wheeler maker had reported a net profit of Rs 748 crore a year ago.
Revenue from operations rose to Rs 9,158 crore from Rs 8,539 crore in the year-ago period.
Uco Bank net jumps
State-owned Uco Bank on Thursday reported a more than two-fold jump in its net profit at Rs 504.52 crore for the quarter ended September as a fall in bad loans resulted in lesser provisioning requirement. The bank had reported a net profit of Rs 205.39 crore in the corresponding quarter a year ago.
Total income of the Calcutta-based lender rose to Rs 4,964.84 crore from Rs 4,655.86 crore a year ago. Interest income rose to Rs 4,184.89 crore from Rs 3,719.79 crore.
BoI profit declines
State-owned Bank of India on Thursday reported a nearly 10 per cent decline in net income at Rs 960 crore for the September quarter on higher provisioning, which more than doubled to Rs 1,912 crore.
The bank had made a provision of only Rs 894 crore in the year-ago period, which negated other improvements in the key numbers such as net interest income rising from Rs 9,523 crore to Rs 11,497 crore and lower taxations at Rs 502 crore in the reporting quarter against Rs 733 crore a year ago.
Another reason for the fall in the bottomline is the higher interest outgo, which rose from Rs 6,000 crore to Rs 6,414 crore.
Adani Enterprises
Adani Enterprises has reported a 117 per cent rise in consolidated net profits for the quarter ended September 30.
The company posted a net profit of Rs 460.94 crore against Rs 212.41 crore in the same period of the previous year. However, on a sequential basis, net profit declined from Rs 469.46 crore in the preceding three months.
Revenues rose to Rs 38,175.23 crore from Rs 13,218.02 crore in the year-ago period.
