State Bank of India: India's largest lender reported 6.7 per cent year-on-year (YoY) fall in net profit to Rs 6,068 crore in Q1FY23 from Rs 6,504 crore in the year-ago period, due to sharp fall in non-interest income due to market losses on investment book. Net interest income, however, grew 13 per cent YoY to Rs 31,196 crore in Q1FY23 on improved credit offtake. READ MORE
Titan: The jewellery company reported a 13-fold jump in net profit to Rs 790 crore in Q1FY23 from Rs 18 crore in Q1FY22. Strong festive demand and normalcy post covid-19 helped the company clock second-best quarterly revenue to Rs 8,975 crore, up 199 per cent YoY. While the jewellery business saw income of Rs 7,600 crore, watches and wearables stood at Rs 786 crore. READ MORE
One97 Communications: The consolidated net loss of the fintech firm widened to Rs 644.4 crore in Q1FY23 from Rs 380.2 in the corresponding quarter of previous year. The consolidated revenue from operations increased 89 per cent YoY to Rs 1,680 crore during the reported quarter from Rs 891 crore in Q1FY22. That apart, loan disbursements grew by over eight-fold to Rs 5,554 crore. READ MORE
FSN e-Commerce Ventures: The personal care player, which operates under Nykaa brand, saw nearly 42 per cent YoY growth in consolidated net profit to Rs 5 crore in the April-June quarter of FY2 3. The consolidated revenue from operations of Nykaa increased by 41 per cent to Rs 1,148.42 crore in Q1FY23 from Rs 816.99 crore in June 2021 quarter. READ MORE
Fortis Healthcare: The healthcare major reported 69 per cent decline in consolidated net profit at Rs 134 crore. Revenues in the period under review stood at Rs 1,488 crore as compared with Rs 1,410 crore in the year-ago period. The management foresees brownfield expansion strategy to fuel the next phase of growth. READ MORE
BPCL: The state-run firm reported a net loss of Rs 6,291 crore in Q1FY23 from Rs 3,192.58 crore in Q1FY22, on holding fuel prices despite the rise in input costs. Revenue from operations, meanwhile, rose to Rs 1.38 lakh crore from Rs 89,688.98 crore in Q1FY22. Market sales, too, rose 11.76 million tonnes in Q1 2022-23 due to low base effect.
Indian Overseas Bank: The state-run bank plans to raise around Rs 1,000 crore through qualified institutional placements (QIP) to sustain business growth. That apart, the bank reported 20 per cent rise in net for Q1FY23 to Rs 392 crore. Meanwhile, an improvement was seen in the asset quality picture of the bank as gross non-performing assets (NPA) reduced to Rs 14,769 crore in Q1FY23.
PNB Housing: The housing finance company plans to re-enter the high-yielding corporate loans that it stopped two years back. Currently, with a corporate loan book size of Rs 6,006 crore, the management expects to come down further by Rs 1,000 crore by December offtake. Selloffs and accelerated payments are likely to drive 45 per cent YoY decline in loan book.
Stocks in F&O ban: Balrampur Chini Mills, Delta Corporation, and Escorts were banned in the F&O ban period on Monday, August 8.Fortis Healthcare has reported 69 per cent decline in consolidated net profit at Rs 134 crore for the first quarter ended June 30.
The healthcare major had logged a net profit of Rs 431 crore, which included an exceptional gain of Rs 306 crore, in April-June 2021-22.
Revenues in the period under review stood at Rs 1,488 crore as compared with Rs 1,410 crore in the year-ago period, the company said in a late evening regulatory filing on Friday.The company’s jewellery business registered an income of Rs 7,600 crore in the quarter compared to Rs 2,467 crore in the corresponding quarter last year (excluding bullion sale), a growth of 208 per cent.
The company’s watches and wearables business reported its best quarterly income of Rs 786 crore with 169 per cent growth in the quarter compared to Rs 293 crore in the year-ago quarter.
In its eyecare business, the company saw its revenue at Rs 183 crore with 173 per cent growth in quarter compared to Rs 67 crore a year ago. Its other businesses comprising Indian dress wear and fragrances and fashion accessories reported an income of Rs 56 crore in the quarter compared to Rs 14 crore last year, a growth of 300 per cent.
CK Venkataraman, MD, Titan, said, “We delivered a strong performance in Q1 across our business segments. Despite the challenging macro environment, the outlook for the remaining quarters looks positive and we continue to execute our investment plans in India as well as chosen international geographies.”
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