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Symphony Q1 net drops 24 pc at Rs 24 cr

11 August 2017

Auto component maker Subros today reported a standalone net profit at Rs 10.52 crore for the first quarter ended June 30, on account of higher income.

MD and CEO of Allahabad Bank, Usha Ananthasubramaniam said that operating profit of the bank increased 21 per cent to Rs 1170 crore as compared to Rs 967.44 crore during the previous similar quarter.

The gross non performing assets for the largest banking entity in the country jumped to Rs 1.88 lakh crore from Rs 1.12 lakh crore in the fourth quarter of 2016-17, while net NPAs also rose to Rs 1.07 lakh crore from Rs 58,277 crore. Net NPAs rose to 5.97 percent in the June quarter compared to 3.71 percent in the previous quarter and 4.05 percent in the same quarter a year ago.

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The bank's total consolidated income during the April-June quarter of 2017-18 stood at Rs 70,776.56 crore, SBI said in a regulatory filing.

It said the figures, ratios and other information are based on the merged audited numbers.

The total earnings in the same quarter of 2016-17 was at Rs 69,414.82 crore.

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The company has made a provisioning of Rs 104 crore on the basis of recent Supreme Court judgment in a matter relating to mining regulation (to which Hindalco was not a party).

It was at Rs 867.32 crore in the same period year ago.

The offshore business gives service to oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India) Ltd. Shares of the company closed at Rs374.40 per scrip, down 3.11% on BSE.

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Symphony Q1 net drops 24 pc at Rs 24 cr