RESULTS CORNER

ICICI Bank Q2 net dips 30% to Rs 2,071 crore Mumbai: The country's largest private sector lender ICICI Bank Friday reported a 30 per cent decline in consolidated net profit to Rs 2,071.38 crore for the September quarter due to increase in bad loans. The bank's net profit in July-September quarter of the last fiscal was Rs 2,979 crore. Its total income during the September quarter also slipped to Rs 30,191 crore, as against Rs 32,435 crore in the year-ago period, ICICI Bank said in a statement. ICICI Bank's gross non-performing assets (NPAs) or bad loans jumped to 7.87 per cent as against 6.12 per cent in the year-ago period. Similarly, net NPAs rose to 4.43 per cent compared with 3.21 per cent in the previous fiscal.

Canara Bank Q2 net profit down 27 pc to Rs 260 cr Mumbai: State-run Canara Bank's profit dropped by 27.1 per cent to Rs 260.18 crore in the second quarter of current fiscal on account of higher provisioning and decline in income. Total income during July-September quarter stood at Rs 11,994.64 crore, down from Rs 12,187.12 crore in the same quarter a year ago, Canara Bank said in a BSE filing. The bank's Gross Non-Performing Assets (GNPA), as a percentage of advances, increased to 10.51 per cent from 9.81 per cent on annual basis. The net NPA too rose to 7.02 per cent from 6.69 per cent.

IOC Q2 net profit up 18% at Rs 3,696 cr New Delhi: State-owned Indian Oil Corp (IOC) Friday reported 18 per cent rise in second quarter net profit on the back of higher fuel sales. Net profit in July-September at Rs 3,696.29 crore, or Rs 7.80 per share, was 18.4 per cent higher than Rs 3,121.89 crore, or Rs 6.59 a share, net profit in the year-ago period, the company said in a regulatory filing. Domestic fuel sales rose to over 19 million tonnes.

ITC Ltd Q2 net profit spurts 6% to Rs 2,640 cr New Delhi: Diversified group ITC Ltd Friday reported a 5.59 per cent increase in its standalone net profit at Rs 2,639.84 crore for the quarter ended September 2017, riding on lower expenses. The company had posted a net profit of Rs 2,500.03 crore during July-September of 2016, ITC Ltd said in a regulatory filing. Total income during the quarter under review was Rs 10,258.13 crore as against Rs 14,091.96 crore in the year-ago period.

Maruti Suzuki Q2 net profit grows 3.4% to Rs 2,484 cr New Delhi: Country's largest carmaker Maruti Suzuki India today posted 3.4 per cent rise in net profit at Rs 2,484.3 crore for the second quarter ended September 30. The company had reported a net profit of Rs 2,401.5 crore for the same period of previous fiscal. Net sales rose 21.8 per cent to Rs 21,438.1 crore for the quarter under review, as against Rs 20,048.6 crore a year ago.