July 23, 2024
New Delhi, India
Q1 Results Update
Hindustan Unilever: Hindustan Unilever Limited (HUL) reported a consolidated net profit of ₹2,538 crore for the June quarter of FY25. This figure represents a significant decline of 75% from the net profit recorded in the March quarter.
Bajaj Finance: Bajaj Finance announced its Q1 FY25 results with a net profit of ₹3,912 crore, reflecting a 14% increase year-on-year. However, this result missed market expectations. The company’s net interest income (NII) for the April-June period grew by 25% year-on-year, reaching ₹8,365 crore.
Indian Overseas Bank: Indian Overseas Bank (IOB) reported a net profit of ₹633 crore for Q1 FY25, marking a 27% increase from ₹500 crore in the same period last year. The bank’s interest income grew by 20.48% year-on-year, totaling ₹6,535 crore. Gross Non-Performing Assets (NPA) improved to 2.89% from 7.13%, while Net NPA decreased to 0.51% from 1.44%. Total deposits rose 13% to ₹2.98 lakh crore.
Suzlon Group: Suzlon Group posted a profit after tax (PAT) of ₹302 crore for Q1 FY25, nearly tripling from ₹101 crore in the same period last year. The company’s revenues increased to ₹2,016 crore from ₹1,348 crore. As of June 30, 2024, Suzlon had a net cash position of ₹1,197 crore.
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