Corporate Earnings: Top gainers and losers in Q2 results announced today

New Delhi: The major gainers and losers announcing corporate earnings on Friday:

L&T Q2 net up 16% at Rs 996 crore

Larsen & Toubro (L&T) Friday reported a 15.56 per cent jump in consolidated net profit at Rs 995.90 crore for the September quarter even as it said the investment climate remained "subdued" during the period.

Larsen & Toubro recorded consolidated gross Revenue of Rs 23,605 crore for the quarter ended September 30, 2015, registering a YoY growth of 11 per cent. The international revenue during the quarter at Rs 7,658 crore constituted 32 per cent of the total revenue," it said.

The company's total expenses soared to Rs 21,495.13 crore during the quarter under review as against Rs 19,373.65 crore in the corresponding quarter a year-ago.

The engineering and construction major had reported a net profit (after tax, minority interest and share in profit of associates) of Rs 861.75 crore in the July-September quarter of the last fiscal.

Apollo Tyres Q2 net profit rises 8% to Rs 279 crore

Apollo Tyres Friday reported 8.06 per cent rise in its consolidated net profit at Rs 278.74 crore for the second quarter ended September 30.

The company had posted a net profit of Rs 257.94 crore during the same period of previous fiscal.

Net sales of the company, however, declined to Rs 2,979.98 crore during the second quarter, as against Rs 3,331.41 crore in the same period of previous fiscal. In the July-September quarter, the truck bus radial (TBR) imports increased almost 100 per cent, as compared to the same period last year, of which, the Chinese brands contributed nearly 90 per cent, he added.

ICICI Bank reports 12% rise in Q2 profit at Rs 3,419 cr

India's largest private sector lender ICICI Bank Friday reported a 11.5 per cent jump in consolidated net profit at Rs 3,418.53 crore for the second quarter ended September 30.

The bank's net profit in July-September quarter of the previous fiscal was Rs 3,064.62 crore.

Total income during the second quarter increased to Rs 25,137.61 crore, up 13.5 per cent as against Rs 22,150.39 crore earned by the bank in the same period of earlier fiscal, it said in a regulatory filing.

On standalone basis, the net profit of the bank rose by 11.9 per cent to Rs 3,030.11 crore, from Rs 2,709.01 crore in the year ago period.

Income (standalone) during the second quarter increased to Rs 16,106.22 crore compared with Rs 14,888.95 crore in the same quarter of 2014-15.

The bank's net interest income increased 13 per cent to Rs 5,251 crore in the second quarter from Rs 4,657 crore a year ago.

Non-interest income increased by 10 per cent to Rs 3,007 crore during the quarter under review from Rs 2,738 crore.

On asset quality, bank's bad loans rose a tad with gross non-performing assets (NPAs) standing at 3.77 per cent of gross advances as of September 30, as against 3.12 per cent in the year ago period.

Likewise, net NPAs were at 1.65 per cent of net advances compared with 1.09 per cent in the previous fiscal.

Glenmark Pharma Q2 profit up 20%, scrip gains 6% 

Shares of Glenmark Pharmaceuticals Friday climbed 6 percent after the company reported 20 percent increase in consolidated net profit for the second quarter ended September 30.The stock gained 5.96 per cent to Rs 1,000 at BSE. On NSE, it rose by 6 per cent to Rs 999.80. Glenmark on Thursday reported 19.81 per cent increase in consolidated net profit to Rs 197.78 crore for the second quarter ended September 30, driven by good growth in India, US and Europe.

The company had posted consolidated net profit of Rs 165.07 crore in the July-September quarter of the last fiscal, 2014-15, Glenmark had said in statement.

For the second quarter, consolidated revenue was at Rs 1,909.36 crore, as against Rs 1,680.70 crore, up 13.60 per cent, it said.

Kotak Bank Q2 net profit up at Rs 942 crore

Kotak Mahindra Bank Friday reported consolidated net profit of Rs 942 crore for the second quarter ended September 30, 2015-16. The Group has posted a profit after tax of Rs 718 crore in the July-September quarter of the 2014-15 fiscal. On a standalone basis, Kotak Bank posted net profit of Rs 569 crore for the quarter ended September 30, 2015.

It had a profit of Rs 444 crore for the second quarter of last fiscal. Total Income stood at Rs 4,621 crore for the quarter ended September 30. It was at Rs 2,819 crore in the same quarter last fiscal.

On a standalone basis, gross non-performing assets as a percentage of gross advances rose to 2.35 per cent in the September quarter. This is up from 1.89 per cent in the corresponding period a year ago.

ITC Q2 net profit up marginally at Rs 2,431.25 cr

ITC Ltd Friday posted a marginal increase of 0.25 per cent in its standalone net profit at 2,431.25 crore for the second quarter ended September 30, 2015-16.

The company had posted a net profit of Rs 2,425.16 crore during the same period of 2014-15 fiscal.

Net sales of the Kolkata-based company, however, declined 1.40 per cent to Rs 8,804.70 crore for the quarter under review as against Rs 8,930.32 crore of the July-September quarter of the previous fiscal, ITC said in a filing to the BSE.

Uttam Galva Steels Q2 net profit falls 67% to Rs 2.03 crore

Galvanized steel manufacturer Uttam Galva Steels Friday reported 66.8 percent decline in its standalone net profit at Rs 2.03 crore for Q2 ending September 30. The company's standalone net profit same time year ago was Rs 6.13 crore.

The net sales of the company increased to Rs 1,938.36 crore, as against over Rs 1,656.88 crore in the year-ago period. The total expenditure during the period was at Rs 1,881.95 crore, registering an increase of 18.15 per cent.

The total expenses in the July-September period of the last fiscal was Rs 1,592.81 crore.

 
SKF Q3 net profit dips 15% to Rs 50 crore

Bearings maker SKF India has reported a 14.68 per cent decline in its net profit at Rs 50.04 crore for the third quarter ended September 30. The company had posted a net profit of Rs 58.65 crore during the same period of the previous fiscal.

Net sales of the company also declined to Rs 591.54 crore during the third quarter, as against Rs 603.80 crore during the same period of previous fiscal, SKF India said in a statement. SKF India currently follows January-December fiscal.
 

Century Textiles Q2 loss at Rs 24 crore

Century Textiles and Industries Friday reported a standalone loss of Rs 24.26 crore in the second quarter ended September 30, due to higher finance cost.

The company had posted a net profit of Rs 77 lakh in the same quarter last fiscal.

Century Textiles also announced the appointment of Kumar Mangalam Birla as its Vice Chairman with immediate effect.

Net sales during the period under review stood at Rs 1,877.35 crore as against Rs 1,653.63 crore in the year-ago period.

The company said finance cost during the period under review was at Rs 148.11 crore compared with Rs 109.26 crore.

Revenue from textiles segment was at Rs 486.66 crore compared with Rs 421.21 crore in the year-ago period. Cement category posted revenue of Rs 942.18 crore as against Rs 867.04 crore, the company said.

Indoco Remedies Q2 net profit flat at Rs 22.6 cr

Research-oriented pharma company Indoco Remedies Friday said it has registered marginal rise in its net profit at Rs 22.6 crore for the second quarter ended September 30, 2015-16.

It had posted as against Rs 22.4 crore in the July- September quarter of last fiscal, 2015-16.

The company posted net revenues of Rs 247.7 crore for the quarter under review, up 9.4 per cent from Rs 226.4 crore for the year-ago period, a company statement said here.

ZACL Q2 net profit falls 86% to Rs 3.12 crore

New Delhi: Zuari Agro Chemicals (ZACL) Friday reported 86 per cent decline in its net profit at Rs 3.12 crore for the quarter ended September 30 due to fall in sales.

The company had clocked a net profit of Rs 21.95 crore in the year ago period.

Net sales of the company during July-September quarter rose to Rs 1,327.17 crore from Rs 1,555.30 crore in the year ago period, the company said in a BSE filing.

During the quarter, the company has invested Rs 16.69 crore in the equity of MCA Phosphates Pte Ltd, which is a joint venture firm with Mitsubishi Corporation, it added.