HINDALCO Q1 STANDALONE NET PROFIT UP 43% TO ₹414 CRORE
NEW DELHI: Aditya Birla Group flagship Hindalco on Friday reported a 42.75% jump in its standalone net profit to ₹414 crore for the first quarter ended June 30, 2018. The aluminium maker had clocked a standalone net profit of ₹290 crore in the corresponding period a year-ago. “Profit After Tax has doubled to ₹734 crore in Q1 FY19, up by 102% vs ₹364 crore in Q1 FY18, driven by higher Ebitda and lower finance costs,” a company statement said. It said its revenue (India operations) stood at ₹10,670 crore for the quarter under review. “It achieved the highest ever quarterly Ebitda of ₹1,951 crore, up by 17% compared to Q1 FY18, on the back of supporting macros, operating excellence and higher by-products realisation in the copper business,” the statement said.
GAIL June quarter profit rises 23% to ₹1,259
NEW DELHI: GAIL India Ltd, the country’s largest natural gas marketer, on Friday reported a 23% rise in its April-june quarter net profit on better margins in gas trading and petrochemicals business. Net profit of ₹1,259 crore in the first quarter of 2018-19 fiscal was higher than ₹1,026 crore in the same period of last financial year, the company said in a statement here. The profit was higher “mainly due to better performance by gas trading and petrochemicals segments”, it said. Sales were up 50% at ₹17,262 crore. Gross margin (Ebitda) witnessed a growth of 17% from ₹2,015 crore in the first quarter of FY2017-18 to ₹2,363 crore in April-june FY2018-19.
DLF Q1 profit surges 56% at ₹172.77 crore
NEW DELHI: India’s largest real estate firm DLF on Friday reported a 56% increase in its consolidated net profit at ₹172.77 crore for the first quarter of this fiscal. Its net profit stood at ₹110.70 crore in the year-ago period, the company said in a regulatory filing. Total income, however, declined to ₹1,657.67 crore during April-june this fiscal from ₹2,211.24 crore in the corresponding period of the previous year. DLF said in a statement that quarterly numbers are not comparable as it has adopted new accounting standard from April this year. DLF’S net profit increased despite drop in total income as the company earned ₹241.50 crore as its share of profit in associates and joint ventures. The company has a joint venture with Singapore’s sovereign wealth firm GIC for commercial real estate business.
Union Bank of India Q1 net up 12% at ₹130 crore
NEW DELHI: State-owned Union Bank of India on Friday reported a net profit of ₹130 crore in the first quarter of 2018-19, up 12% from the year-ago period. The bank had reported a net profit of ₹116.58 crore in the same quarter of 2017-18. Total income during the June quarter increased to ₹9,908.76 crore as against ₹9,567.69 crore in the same period a year ago, it said in a regulatory filing. The interest income rose to ₹8,700.81 crore from ₹8,112.10 crore. “The interest income for the quarter includes an amount of ₹274.43 crore towards recovery of NPA in accordance with resolution plan approved by National Company Law Tribunal,” it said. On asset front there was a further dent with gross NPAS rising to
16% of gross advances by June 30, 2018.
COMPILED FROM AGENCIES