HDFC Q1 net profit rises 46% to Rs 3,203 crore
New Delhi/Kolkata (PTI): The country’s largest mortgage lender HDFC Ltd on Friday reported a 46 per cent rise in standalone net profit to Rs 3,203.10 crore for the first quarter ended June 30. The company had posted a net profit of Rs 2,190 crore during the corresponding April-June period of 2018-19. Total income (standalone) increased to Rs 12,996.11 crore in the first quarter, as against Rs 9,951.98 crore in the same period of the preceding fiscal, HDFC Ltd said in a regulatory filing.
Exide net profit up 7% in June quarter
Battery major Exide Industries on Friday reported a seven per cent on-year increase in standalone net profit to Rs 224.29 crore in the first quarter of the current financial year. The company had posted a standalone net profit of Rs 209.92 crore during the corresponding quarter a year ago. During the April-June period, its net turnover was at Rs 2,779.25 crore, as against Rs 2,772.46 crore during the quarter ended June 30, 2018. Commenting on the earnings, Exide MD and CEO G Chatterjee said demand of automotive batteries remained under pressure, while growth in UPS, telecom and other infrastructure segments continued in the reporting quarter. The Kolkata-headquartered company is focusing on cost control and technology upgradation as strategies to improve the bottomline.
Godrej Agrovet Q1 profit down 4%
Godrej Agrovet on Friday reported 4 per cent decline in consolidated net profit at Rs 77.6 crore for the quarter ended June 2019. It had posted a net profit of Rs 81 crore in the year-ago period. Total income rose to Rs 1,712.8 crore during April-June 2019 from Rs 1,488.2 crore in the corresponding period of the previous year, the company said in a statement. Godrej Agrovet is into animal feed, crop protection, oil palm, dairy, poultry and processed foods businesses.
BSE net profit drops 19.8% to Rs 41.3 crore in June quarter
The BSE on Friday reported a 19.8 per cent decline in consolidated net profit to Rs 41.3 crore for the quarter ended June 30, mainly on higher expenses. The bourse had posted a net profit of Rs 51.5 crore for the corresponding period of the previous year, the BSE said in a filing to the National Stock Exchange (NSE). Its total income was marginally up at Rs 166 crore, compared with Rs 164.20 crore in the June 2018 quarter. Total expenses were higher at Rs 119.10 crore, against Rs 108.69 crore in the year-ago period. On a standalone basis, the stock exchange reported a profit of Rs 34.4 crore, down from Rs 51.8 crore during the quarter ended June 30. The exchange said it proposes to buy back 67.65 lakh fully paid-up equity shares of Rs 2 each at Rs 680 per equity share through the tender offer route. The number of shares proposed to be bought back represents 13.06 per cent of the company’s total paid-up equity capital. The total size of buyback will be a maximum of Rs 460 crore.
Ethiopian Airlines to launch services to Bengaluru from Oct 27
Africa's largest carrier Ethiopian Airlines said on Friday it will launch passenger flight services to Bengaluru from its hub Addis Ababa from October 27, which will be operated four times per week.
The Ethiopian national carrier currently connects the capital city Addis Ababa with New Delhi and Mumbai. These services are operated twice daily.
Besides, it also operates cargo services Mumbai and New Delhi, Chennai, Bengaluru and Ahmedabad.
Ethiopian Airlines will launch flight services to India's 'silicon valley,' Bengaluru from Addis Ababa from October 27, the airline said in a release.