ibusinesslines.com August 19, 2017

Hindalco Q1 net profit falls 1.5% to Rs 290 cr

11 August 2017, 02:13 | Myron Mathis

Spice Jets announces Rs 175 crore profit in Q1

Ajay Singh Chairman Spicejet

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.

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