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SAIL returns to black; posts Rs 3,897-cr net profit for June quarter

Domestic steel major SAIL on Friday returned to the black, posting a consolidated net profit of Rs 3,897.36 crore for the June 2021 quarter. The company had posted a Rs 1,226.47-crore net loss in the year-ago quarter, Steel Authority of India Ltd (SAIL) said in a BSE filing. Its net income during April-June 2021 more than doubled to Rs 20,754.75 crore, compared with Rs 9,346.21 crore in the year-ago period. Total expenses stood at Rs 15,604.07 crore, against Rs 11,325.10 crore a year ago. In a statement, the company said its crude steel production during the quarter stood at 3.77 million tonnes and sales 3.32 million tonnes.

BSE posts 61% growth in Q1 consolidated net profit at Rs 53.42 crore

Leading stock exchange BSE on Friday reported a consolidated net profit of Rs 53.42 crore for the first quarter ending June, a growth of 61 per cent compared to Rs 33.15 crore in the corresponding quarter of the last fiscal. Its revenue from operations increased 52 per cent to Rs 156.95 crore during the quarter under review from Rs 103.22 crore in the same quarter of last fiscal, BSE said in a statement. The exchange said that there is a 52 per cent increase in average daily turnover in equity segment at Rs 5,661 crore for the quarter under review as compared to the Rs 3,724 crore in the April-June period of 2020-21.

Hindalco Q1 consolidated PAT at Rs 2,787 cr vs loss of Rs 709 cr a year ago

Hindalco Industries reported a consolidated net profit of Rs 2,787 crore in June quarter as against a loss of Rs 709 crore in the corresponding period last year on the back of increased revenue and a low base due to Covid-19 first wave hit last year. The Aditya Birla Group company’s topline in the period under review stood at Rs 41,358 crore, up 63 per cent from same period last year with Novelis contributing strongly at Rs 28,428 crore. As per Bloomberg estimates, the company’s net sales was seen at Rs 41,433 crore in the quarter gone by, while the bottomline was expected to be at Rs 2,360 crore.

JK Tyre posts consolidated net profit of Rs 44 cr in June quarter

JK Tyre & Industries on Saturday said it has posted a consolidated net profit of Rs 44 crore for the first quarter ended June 2021. The tyre major had reported a net loss of Rs 204 crore in the April-June period of 2020-21 fiscal amid COVID-19 disruptions. Revenue from operations rose to Rs 2,608 crore in the first quarter from Rs 1,131 crore in the year-ago period, JK Tyre & Industries said in a statement. On a standalone basis, the company posted a net profit of Rs 45 crore. The tyre maker had reported a net loss of Rs 75 crore during the June quarter of FY'21 fiscal.

Divi's Labs reports 13% jump in net profit at Rs 557 cr in Q1

Drug maker Divi's Laboratories on Saturday posted a 13 per cent increase in its consolidated net profit at Rs 557 crore for the first quarter ended June 30, 2021. The company had reported a net profit of Rs 492 crore in the April-June quarter of the previous fiscal. Total income rose to Rs 1,997 crore in the first quarter as compared with Rs 1,748 crore in the June quarter of 2020-21 fiscal, Divi's Laboratories said in a regulatory filing.

Bank of Baroda back in black in Q1, posts net profit of Rs 1,208 cr

State-owned lender Bank of Baroda (BoB) posted net profit of Rs 1,208 for June 2021 quarter (Q1FY22) as against net loss of Rs 864 crore in the same quarter last year (Q1FY21). The improvement in bottomline is backed by robust rise in net interest income (15 per cent), and other income (63.3 per cent) and dip in provisions.

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