Reliance Industries Q1 Results: Net profit falls 7% YoY to Rs 12,273 crore
Reliance Industries Ltd (RIL) reported a 7.3% YoY decline in consolidated net profit to Rs 12,273 crore for the quarter ended June (Q1 FY22). Net profit has fallen by 7% when compared to the previous quarter. Its revenue from operations rose 58.2% YoY to Rs 1.44 lakh crore during the same period. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 27.6% YoY to Rs 27,55 crore in Q1. The profit figure has beaten street/analysts’ estimates.
Reliance Jio posted a 45% YoY (or 4% QoQ) increase in net profit to Rs 3,651 crore during the April-June quarter of FY22.
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JSW Steel Q1 Results: Net profit at Rs 5,904 crore
JSW Steel Ltd reported a consolidated net profit of Rs 5,904 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 561 crore in the corresponding quarter last year (Q1 FY21). Its revenue from operations jumped 145% YoY (or 7.3% QoQ) to Rs 28,902 crore in Q1 FY22. This is JSW Steel’s highest-ever quarterly net profit and revenue. The company spent Rs 2,688 crore on capital expenditure (capex), which was nearly 15% of its planned capex for the current financial year (FY22).
The company has announced plans to invest Rs 750 crore in JSW Paints over the next three years.
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Britannia Industries to invest Rs 94 crore for expansion of its Odisha unit
Britannia Industries Ltd will invest Rs 94 crore for the expansion of its manufacturing plant in Khurda, Odisha, to cater to the growing demand for its products across multiple categories. The company aims to increase the manufacturing capacity of the plant by 85% to 65,000 metric tonnes per annum (MTPA). The new capacities will be operational by October 2022 and will enable Britannia to increase the production of its core band, including Marie Gold, Vita Marie Gold, etc.
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Ambuja Cements Q2 Results: Net profit rises 91% YoY to Rs 876 crore
Ambuja Cements Ltd reported a 91.78% YoY increase in consolidated net profit to Rs 876.71 crore for the quarter ended June (Q2 CY21). The company follows the January-December financial year cycle. Net profit has declined by 7.4% when compared to the previous quarter. Its total income rose 48.4% YoY to Rs 7.055.76 crore during the same period. The company’s cement volumes grew from 4.19 million tonnes (MT) in Q1 CY21 to 6.33 MT in Q2 CY21.
Atul Q1 Results: Net profit rises 40.8% YoY to Rs 166 crore
Atul Limited reported a 40.89% YoY increase in consolidated net profit to Rs 165.94 crore for the quarter ended June (Q1 FY22). Net profit has declined by 5.2% when compared to the previous quarter. Its total income rose 58.27% YoY to Rs 1,109.82 crore during the same period. Atul Ltd is an integrated chemical company based in Valsad, Gujarat.
Federal Bank Q1 Results: Net profit declines 8% YoY to Rs 367 crore
Federal Bank Ltd reported an 8.3% YoY decline in standalone net profit to Rs 367.3 crore for the quarter ended June (Q1 FY22). Its net interest income (NII) rose 9.4% YoY to Rs 1,418 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 3.5% in Q1 FY22, compared to 3.4% in the previous quarter (Q4 FY21). The bank’s provisions increased by 62.6% YoY to Rs 641.83 crore during the April-June quarter of FY22.
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United Spirits Q1 Results: Net profit at Rs 69.1 crore
United Spirits Ltd reported a standalone net profit of Rs 69.1 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 251 crore in the corresponding quarter last year (Q1 FY21). Its total income rose 59% YoY to Rs 3,829 crore in Q1 FY22. United Spirits’ EBITDA jumped 316% YoY to Rs 168 crore. United Spirits is an alcoholic beverages company based in Bengaluru. It is a subsidiary of UK-based Diageo plc.
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Yes Bank Q1 Results: Net profit jumps 355% YoY to Rs 207 crore
Yes Bank reported a 355.2% YoY jump in standalone net profit to Rs 207 crore for the quarter ended June (Q1 FY22). Its net interest income (NII) rose 26.5% YoY to Rs 1,402 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 15.6% in Q1 FY22, compared to 15.41% in the previous quarter (Q4 FY21). However, the bank’s operating profit declined by 20% YoY to Rs 920 crore in Q1 FY22.
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SBI Cards Q1 Results: Net profit falls 22% YoY to Rs 305 crore
SBI Cards and Payment Services reported a 22% YoY decline in net profit to Rs 305 crore for the quarter ended June (Q1 FY22). Net profit has increased by 73.65% when compared to the previous quarter. Its total income rose 11.63% YoY to Rs 2,450.94 crore during the same period. The company’s gross non-performing assets (bad loans) more than doubled to 3.91% in Q1 FY22, compared to 1.35% in Q1 FY21.
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India’s oil production declines in June; gas output rises
India’s total crude oil production declined by 1.79% to 2,481.66 thousand metric tonnes (TMT) in June 2021, compared to the corresponding month last year. The fall in production comes at a time when domestic petrol and diesel prices are at all-time highs. Meanwhile, there was a 19.52% YoY increase in gas production in June. Natural gas production during June 2021 was 2,777.43 million metric standard cubic metres (MMSCM).
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