Cummins India Q1 net profit up 23 pc at Rs 222 cr

04 Août, 2017, 21:49 | Author: Lucrece Courtet
  • Total income rose 6.9% to Rs2,023.1 crore from Rs1,890.9 crore in the year-ago period

While, the bank had kept aside Rs942.73 crore towards bad loans provisioning for June 2016 quarter.

The bank had registered net profit of Rs 31 crore in the corresponding quarter previous year.

Shares of Punjab National Bank (PNB) on Wednesday rose by nearly 3 per cent after the company reported a 12.09 per cent increase in net profit during the April-June quarter.

The total income for the quarter under discussion was up by 6.18 percent to Rs 5,155 crore and the same was reported as Rs 4,855 crore during the first quarter of FY 17, the bank said in a statement. Non-interest income rose 55.6 per cent to ₹753 crore (₹484 crore).

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Provisions and contingencies increased marginally by 1.7 per cent over last year to Rs 1,272.10 crore from Rs 1,250.50 crore in the corresponding period last year. In March quarter last fiscal gross NPA ratio was at 17.12%.

The company's gross non-performing assets (NPAs) as on June 30, 2017 stood at 0.43 per cent, while net NPAs were 0.33 per cent of the loan disbursals at June-end this year.

Repco Home Finance, promoted by government enterprise Repco Bank, also reported an increase of 8 per cent in its income from operations to Rs 265.70 crore for April-June period of 2017-18 as against Rs 246.80 crore a year ago.

The stock gained 2.85 per cent to Rs 162 on the BSE.

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