Maruti Q1 net dips 32 per cent at Rs 1,377 crore
New Delhi (PTI): The country’s largest carmaker Maruti Suzuki India (MSI) on Friday reported 31.67 per cent decline in consolidated net profit at Rs 1,376.8 crore for the first quarter ended June 30, on account of lower sales volume and higher depreciation expenses. It had posted a net profit of Rs 2,015.1 crore in April-June 2018-19, MSI said in a regulatory filing. Revenue from sale of products was at Rs 18,738.8 crore as compared with Rs 21,813.8 crore earlier, down 14 per cent. Depreciation and amortisation expenses during the first quarter stood at Rs 919 crore as compared with Rs 720.3 crore in the year-ago period. The company sold a total of 4,02,594 vehicles during the quarter, lower by 17.9 per cent as compared to the same period previous year. Sales in the domestic market stood at 3,74,481 units, lower by 19.3 per cent. Exports were at 28,113 units.
JSW Steel Q1 net profit dips over 56 pc to Rs 1,008 crore
JSW Steel on Friday reported a sharp fall of over 56.90 per cent to Rs 1,008 crore in its consolidated net profit during the first quarter ended June 30, due to rise in expenses. The Sajjan Jindal-led company had clocked Rs 2,339-crore net profit during the same period a year ago. In April-June 2019, the company’s total expenses rose to Rs 18,164 crore from Rs 17,206 crore in the corresponding quarter of the preceding fiscal, JSW Steel said in a BSE filing. The company also reported a fall in its total income to Rs 19,953 crore during the quarter, as compared to Rs 20,577 crore in April-June 2018-19. Part of USD 14 billion JSW Group, JSW Steel Ltd has significant presence in sectors such as steel, energy, infrastructure, cement, and sports among others.
PNB returns to black, posts Q1 standalone net profit of Rs 1,019 cr
State-owned Punjab National Bank (PNB) on Friday returned to black as it posted a standalone net profit of Rs 1,018.63 crore in first quarter of this fiscal. Bank had posted a net loss of Rs 940 crore during the corresponding April-June period of 2018-19. In the last quarter of fiscal ended March 2019, the bank had registered a net loss of Rs 4,749.64 crore. Total income rose to Rs 15,161.74 crore during the June quarter of 2019-20, as against Rs 15,072.41 crore in the same quarter of previous fiscal, the bank said in a regulatory filing. On the assets front, bank’s gross non-performing assets fell to 16.49 per cent of gross advances at end of June 2019, as against 18.26 per cent of gross advances at end of June 2018. Net NPAs or bad loans were at 7.17 per cent as against 10.58 per cent year ago.
Bajaj Auto Q1 net profit drops 3 pc at Rs 1,012 crORE
Bajaj Auto on Friday posted 2.84 per cent decline in its consolidated net profit at Rs 1,012.16 crore for the first quarter ended June 30. The company had posted a net profit of Rs 1,041.77 crore during the same period of previous fiscal. Its total revenue from operations rose to Rs 7,755.82 crore for the April-June period from Rs 7,464.89 crore in the same period of 2018-19 fiscal, Bajaj Auto said in a regulatory filing. Bajaj Auto said it sold 1,247,174 units during the first quarter, up 2 per cent from 1,226,641 units in the year-ago period.
Vodafone Idea narrows Q1 loss to Rs 4,873.9 crore
India’s largest telecom operator Vodafone Idea Ltd on Friday narrowed its consolidated loss to Rs 4,873.9 crore for the June 2019 quarter. The company had registered a loss of Rs 4,881.9 crore in the fourth quarter of 2018-19, Vodafone Idea Ltd said in a regulatory filing. The merger of the India unit of Vodafone Group and Idea Cellular was completed on August 31, 2018, and the numbers of June quarter are not comparable with those in the year-ago period. The revenue of Vodafone Idea for the June 2019 quarter fell to Rs 11,269.9 crore as against Rs 11,775 crore logged in the January-March 2019 quarter.