Here are earnings of the second quarter of Godrej Properties, Bayer Cropscience, and more:
Godrej Properties on Tuesday reported a five-fold jump in its consolidated net profit at Rs 35.72 crore for the quarter ended September on higher revenue.
Here are earnings of the second quarter of Godrej Properties, Bayer Cropscience, and more:
Godrej Properties
Realty firm Godrej Properties on Tuesday reported a five-fold jump in its consolidated net profit at Rs 35.72 crore for the quarter ended September on higher revenue.
Its net profit stood at Rs 7.10 crore in the year-ago period. Total income rose to Rs 334.22 crore in the second quarter of this fiscal from Rs 250.23 crore in the corresponding period of the previous year, according to a regulatory filing.
Its sales bookings jumped more than two times to Rs 2,574 crore during the second quarter of the current fiscal from Rs 1,074 crore in the year-ago period.
Bayer Cropscience
Bayer Cropscience on Monday reported a 31.38 per cent decline in net profit at Rs 154.1 crore for the quarter ended September.
The company's net profit during the corresponding period of 2020-21 stood at Rs 224.6 crore, Bayer Cropscience said in a statement.
Revenue from operations declined by 1.19 per cent to Rs 1,365.1 crore, compared to Rs 1,381.6 crore in the same quarter of the previous fiscal.
Star Cement
Star Cement Ltd on Monday reported a 22.79 per cent decline in its consolidated net profit to Rs 46.53 crore for the second quarter ended in September 2021.
The company had reported a net profit of Rs 60.27 crore for the July-September quarter a year ago.
However, revenue from operations was at Rs 406.56 crore, up 1.16 per cent, during the period under review as against Rs 401.89 crore of the corresponding quarter, Star Cement in a regulatory filing.
Total expenses were at Rs 371.08 crore, up 7.29 per cent in Q2/FY 2021-22 as against Rs 345.84 crore.
Punjab & Sind Bank (P&SB)
Punjab & Sind Bank (P&SB) on Monday reported a net profit of Rs 218.28 crore in the quarter ended in September 2021 on the back of NPA recovery.
The bank had reported a net loss of Rs 401.27 crore in the year-ago period but had a net profit of Rs 173.85 crore in the April-June 2021 quarter.
Total income of the bank during the July-September quarter of FY22 was down at Rs 1,945.12 crore against Rs 1,974.78 crore in the corresponding period of FY21, P&SB said in a regulatory filing.
The bank's gross non-performing assets (NPAs) rose further to 14.54 per cent of the gross advances at the end of September 2021 from 14.06 per cent at September-end 2020, and from 13.33 per cent by the end of June 2021.
The bank managing director S Krishnan said the increase in gross NPA is due to two large accounts of Srei Group.
In value terms, the gross NPAs (bad loans) of the Delhi-headquartered bank stood at Rs 9,822.80 crore by end of Q2FY22, as against Rs 8,673.16 crore by end of Q2FY21.
Net NPAs, however, came down to 3.81 per cent (Rs 2,287.77 crore) from 5.87 per cent (Rs 3,306.52 crore).
The bank continued its special focus on NPA recovery, he said, adding, the bank has recovered Rs 893 crore including recovery of Rs 60 crore in technically written-off accounts during the quarter.
During the quarter the Provision Coverage Ratio (PCR) improved further to 84.44 per cent as against 76.12 per cent in September 2020.
(With PTI Inputs)