NEW DELHI: City Union Bank (CUB) on Friday reported a profit after tax (PAT) of Rs 276 crore for the second quarter of financial year 2022-23 (Q2FY23) as against Rs 182 crore reported a year-ago period, registering a 52% growth.
The Tamil Nadu-based bank’s operating profit increased by 15% and profit after tax increased by 41% in the first half of the current financial year. The bank posted an 11% growth in total income in Q2FY23.
The net interest income of the bank stood at Rs 567 crore in the quarter ending September as against Rs 478 crore in the same period last year, registering a 19% growth. While the interest income witnessed 16% growth, the non-interest income dropped to Rs 173 crore from Rs 202 crore on year-on-year basis.
The operating profit stood at Rs 456 crore in Q2FY23, 13% increase compared to Rs 405 crore in Q2 FY22. Deposits stood at Rs 49,878 crore inQ2FY23, an 8% growth as against the first-half of FY22. Advances of the bank stood at Rs 42,701 crore, 12% rise and CASA grew by 16%. Gross non-performing assets (NPA) was at Rs 1,862 crore and net NPA at Rs 1,189 crore.
Cost-to-income ratio reduced to 39.10% in Q1FY23 from 40.56% for the corresponding period last year.
Gail net profit dips 46% to Rs 1,537 cr
NEW DELHI: Gas Authority of India Limited (GAIL) reported a 46% fall in its net profit to Rs 1,537 crore for the quarter ending September 2022, due to supply disruptions from its former unit Russian Gazprom. The company’s revenue from operations was at Rs 76,063 crore for the period June- September 2022 period as compared to Rs 38,902 crore in the corresponding period of financial Year 2021-22.
TVS Motor Q2 net up 59% to Rs 373 cr
CHENNAI: TVS Motor on Friday reported a 59% increase in consolidated net profit to Rs 373 crore for the second quarter ended September 2022, riding on the back of strong sales across markets. It had reported a net profit of Rs 234 crore in the July-September period of previous fiscal. Revenue from operations rose to Rs 8,561 crore for Q2FY23 as against Rs 6,483 crore in the year-ago period, TVS Motor said in a regulatory filing.
Britannia profit rises 28% to Rs 490 cr
NEW DELHI: FMCG major Britannia Industries reported a 28% year-on-year increase in consolidated net profit at Rs 490 crore for the quarter ending September 2022. The company’s net profit stood at Rs 381.8 crore In the same quarter last financial year. The company’s consolidated revenue from operations increased 21% YoY to Rs 4,379.61 crore from Rs 3,607.37 crore. Its EBITDA came in at Rs 711.7 crore, higher by 27.5% YoY.
Tube Investments revenue up 14%
CHENNAI: Tube Investments India posted 14% increase in its standalone revenue in the September quarter to Rs 1,906 crore compared with Rs 1,667 crore in the corresponding period previous year. The profit before tax of the company, with few exceptions with respect to investments made in Sri Lankan subsidiaries, stood at Rs 202 crore. The company witnessed an increase in revenue across verticals in the quarter.