ibusinesslines.com
ibusinesslines.com July 16, 2018


Hindalco Q1 net profit falls 1.5% to Rs 290 cr

11 August 2017, 02:13 | Myron Mathis

Image for representational purpose | Reuters

Image for representational purpose | Reuters

Bank's (standalone) asset quality deteriorated further, with gross non-performing assets (NPAs) rising to 9.97 per cent as on June 30, 2017 as against 6.94 per cent as at end-June 2016.

SpiceJet has reported a profit of Rs 175 crore for the three months ended June 30, 2017 as against Rs 149 crore in the same quarter previous year. Net NPAs rose to 5.97 percent in the June quarter compared to 3.71 percent in the previous quarter and 4.05 percent in the same quarter a year ago.

The scrip was trading 4 per cent down at Rs 280.85 at around 1.15 pm.

Total expenses of the company were at Rs 10,126.23 crore in the quarter under review as against Rs 7,972.41 crore during the year-ago period.

However, net interest income decreased by 3.51 per cent to Rs 17,606 crore from Rs 18,246 crore year earlier.


Separately, SBI said in a statement that on a comparable basis, bank's consolidated net profit in April-June, 2017-18, rose by over five-times to Rs 2,006 crore, as against Rs 374 crore a year earlier. Non interest income also fell by 8.62 per cent to Rs 8,006 crore from Rs 8,761 crore.

Bank's consolidated gross slippages for the quarter stood at Rs 30,059 crore and watchlist at Rs 24,444 crore (Rs 32,427 crore quarter on quarter), Chairperson Arundhati Bhattacharya said while addressing a press conference.

The SBI stock was down 5.85 per cent at Rs 279.20 on BSE shortly before the close of the session.

The revenue from the offshore segment however declined to Rs275.91 crore from Rs417.10 crore in the year-ago quarter.



Other News

Trending Now

Indiana man accused in officer death may face death penalty
Jason Brown is facing felony murder charges for the death of Southport, Indiana Police Lieutenant Aaron Allan. Brown was shot in the right cheek, the right clavicle and the left arm, court documents said.

36 killed in bus crash in China's Shaanxi province
Highway accidents are common in China because of high speeds, aggressive driving and a failure to leave adequate braking distance. The 49 passengers on board the 51-person capacity vehicle included two children.

Hulu To Produce Series Based On RuPaul's Life
It is written by executive producer Gary Lennon ( Power ) and set in NY during the Reagan era in the Eighties. RuPaul will produce the series alongside Gary Lennon ( Orange is the New Black , Justified), while J.J.

Serge Aurier set to sign a five-year deal with Manchester United
There are no further details as to what wages the 24-year-old would earn at United or if a transfer fee has been agreed with PSG. Chelsea are interested in signing Serge Aurier from Paris Saint-Germain this summer, according to Kaveh Solhekol.

Premier League set for big money Manchester vs London prize fights
The bulk of the opening weekend's fixtures will be played on Saturday and Sunday, with Chelsea starting at home to Burnley .

Holyrood flexes muscles ahead of Brexit talks
Speaking ahead of the meeting, Russell said current plans would be a "fundamental attack on the principles of devolution". Mr Russell said "serious and significant" changes were essential as the proposals were "a direct threat to devolution".

South Korean President Criticized for 'Lax Attitude' on Nuclear Threat
Rhetoric in the conflict heated up this week after US President Donald Trump warned North Korea it would face " fire and fury " if it did not stop making threats against Washington.