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Ramco Cements Q1 net profit up 46% to Rs 172 cr on growth in sales

The Ramco Cements Ltd on Tuesday reported a 46.10 per cent increase in consolidated net profit at Rs 171.67 crore for the quarter ended June, helped by growth in sales The company had posted a net profit of Rs 117.50 crore during the April-June period of the previous fiscal, it said in a regulatory filing. Total income was up 17.33 per cent to 1,239.99 crore during the quarter under review as against Rs 1,056.79 crore in the corresponding period of the previous fiscal. Total expenses were at Rs 988.46 crore in Q1 FY 2021-22, up 9.91 per cent from Rs 899.29 crore earlier.

Institutional buyers put in Rs 870 cr of bids for HUDCO share sale

Institutional investors on Tuesday placed bids worth over Rs 870 crore in the government's 8 per cent share sale in HUDCO. Institutional investors put in bids for over 19.40 crore shares against the base issue size of more than 9.90 crore shares. At the indicative price of Rs 45.03 apiece, the bids put in by institutional bidders are valued at over Rs 870 crore.

Karnataka Bank Q1 net down 46% to Rs 106 cr as treasury income dips

Private sector lender Karnataka Bank's net profit fell by 46 per cent to Rs 106.08 crore in the first quarter ended June 2021 (Q1FY22) on a dip in treasury income. The bank had posted a net profit of Rs 196.38 crore during the same quarter last year (Q1FY21). Sequentially, the bank had booked a profit of Rs 31.36 crore in the quarter ended March 2021 (Q4FY21). Mahabaleshwara M S, Managing Director & Chief executive of the bank, said the reduction in net profit is mainly on account of decline in treasury gains, which is dependent on yield movements. Its other income covering treasury operations fell by 54.54 per cent YoY to Rs 235.91 crore in Q1FY22. Sequentially, it was down 36.8 per cent from Rs 373.21 crore in Q4Fy21.

Torrent Pharma Q1 net grows marginally by 3% as price erosion in US weighs

Price erosion in its base business in the US market dragged down the first quarter performance of the new fiscal year 2021-22 for Torrent Pharmaceuticals Ltd as its consolidated net profit rose marginally by three per cent. As compared to a profit after tax (PAT) of Rs 321 crore in Q1 of previous financial year 2020-21, Torrent Pharma posted a PAT of Rs 320 crore for Q1 of current fiscal year FY22. The company's revenues also grew in single digits at four per cent, from Rs 2,056 crore in Q1 of FY21 to Rs 2,134 crore in Q1 of FY22. While India, which forms the largest market for Torrent Pharma, grew by 18 per cent during the quarter to Rs 1,093 crore, the US revenues fell by 29 per cent to Rs 266 crore. Last year, the quarter ended June 30, 2020 had seen Torrent Pharma post India revenues at Rs 925 crore and US revenues at Rs 373 crore.

IndusInd Bank Q1 consolidated net profit nearly doubles to Rs 1,016 cr

Private lender IndusInd Bank on Tuesday reported a 99% year-on-year (YoY) rise in consolidated net profit at Rs 1,016 crore for the quarter ended June 30. The lender had posted a net profit of Rs 510 crore in the corresponding quarter last year. Net interest income for the quarter was at Rs 3,564 crore as against Rs 3,309 crore a year ago. Its total income during April-June 2021 rose to Rs 9,362.76 crore from Rs 8,682.17 crore in the year-ago period, according to a regulatory filing by IndusInd Bank. Interest income was up at Rs 7,574.70 crore, against Rs 7,161.73 crore a year ago.

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