IGI Logo

Key News

DCB Bank net profit rises 13% to Rs 78 crore in January-March quarter

Private lender DCB Bank on Saturday reported a 13 per cent increase in net profit to Rs 78 crore for the January-March quarter compared to that of Rs 69 crore in the year-ago quarter. Total income of the bank during the January-March quarter of 2020-21 fell to Rs 971 crore from Rs 1,012 crore in the same quarter of 2019-20, DCB Bank said in a regulatory filing. The income from interest as well as from investment fell during the reported quarter from a year ago. For the FY2020-21, the bank's net profit remained nearly flat at Rs 336 crore against Rs 338 crore in FY20. Income also was a tad down at Rs 3,917 crore in FY21 against Rs 3,928 crore in FY20.

Bandhan Bank's Q4 net profit declines 80% due to higher provisioning

Kolkata-based private sector lender Bandhan Bank has reported an 80 per cent drop in net profit in the March quarter of FY21, missing Street estimates, due to higher provisions. In Q4FY21, the profit after tax of the lender fell to Rs 103 crore compared to Rs 517.3 crore in the same period last year. Sequentially, the net profit was down 84 per cent as in the December quarter it had recorded a profit of Rs 632.6 crore. Net interest income (NII) of the microfinancing lender grew 4.6 year-on-year (YoY) to Rs 1,757 crore but sequentially it was down 15.2 per cent, owing to the fact that after the apex court's order it had to reverse interest to the tune of Rs 538 crore on account of non-performing asset (NPA) recognition and interest on interest.

DMart Q4 net profit jumps 53%; over 80% stores disrupted by 2nd Covid wave

Avenue Supermarts, which owns the hyper-retail chain DMart, on Saturday reported 53% increase in consolidated net profit at Rs 414 crore for the quarter ending March 31, 2021. It was Rs 271 crore in the year-ago period. Total income rose 19% to Rs 7,460 crore from Rs 6,291 crore a year ago. Total revenue for the quarter ended March 31, 2021 stood at Rs 7,412 crore, as compared to Rs 6,256 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY21 stood at Rs 613 crore, as compared to Rs 417 crore in the corresponding quarter of last year. EBITDA margin stood at 8.3% in Q4FY21 as compared to 6.7% in Q4FY20.

Dabur India's consolidated net profit rises 34.4% in Q4 on low base

Dabur India reported a 34.4 per cent increase in consolidated net profit to Rs 378 crore for the quarter ended March 31, 2021 (Q4), led by a low base and all-round growth in food, healthcare and nutrition. The maker of honey, chyawanprash, oils and juices had reported a net profit of Rs 281.6 crore last year. The company reported a 25.3 per cent jump in consolidated revenue to Rs 2,337 crore for Q4, while volume growth for the quarter stood at 25.4 per cent from last year.

UltraTech Cement Q4 consolidated net declines 45% to Rs 1,775 crore

UltraTech Cement Ltd, flagship company of Aditya Birla Group, reported a higher-than-expected consolidated net profit of Rs 1,775 crore in March quarter, down 45 per cent from the corresponding period last year even as net sales jumped. The company reported consolidated net profit of Rs 3,243 crore in March 2020. Net sales of the Aditya Birla Group company stood at Rs 14,405 crore in the final quarter of FY21, up 33 per cent from same period last year on strong demand for the commodity. As per Bloomberg estimates, the company’s topline was expected to be at Rs 13,460 crore, while the bottomline is estimated to be at Rs 1,644 crore in the period under review.

To Read Complete Report & Disclaimer Click Here

Above views are of the author and not of the website kindly read disclaimer