Mumbai: Public sector Union Bank of India reported a 94% jump in first quarter net profit aided by robust gains from trading in the bond market.
Net profit for the quarter ended 30 June increased to Rs442 crore from Rs228 crore in the year-ago period, as its non-interest income rose 117.7% to Rs529 crore. Trading profit, a component of non-interest income, surged 620.69% to Rs209 crore.
ACC net rises 87% to Rs471 crore
Mumbai: India’s second largest cement maker by market value, ACC Ltd said second quarter profit rose 87% to Rs471 crore from Rs255 crore a year earlier, according to a filing to the Bombay Stock Exchange.
MRPL profit declines in first quarter
New Delhi:Mangalore Refinery and Petrochemicals Ltd, the refining unit of India’s biggest crude oil producer, said first-quarter profit declined.
Net income fell to Rs420 crore in the three months ended 30 June from Rs845 crore a year earlier, the company said in a statement on Thursday. Revenue declined 40% to Rs7,171 crore.
State refiners lost Rs5,440 cr in Q1
New Delhi: State-run refiners lost Rs5,440 crore in the three months ended 30 June from selling fuels below cost, the government said, without providing comparative figures.
Refiners including Indian Oil Corp. Ltd, the nation’s largest, lost Rs3,250 crore on kerosene, petroleum and natural gas minister Murli Deora said in Parliament in New Delhi on Thursday. They earned Rs469 crore on diesel sales in the quarter, the minister said. Cooking fuels accounted for 90% of the net revenue loss, Deora said.