Major companies released quarterly results, know who gained and lost in the Corona period

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Vedanta, a subsidiary of various business entities ITC Ltd, Vedanta Resources, public sector union Bank of India, public sector steel maker SAIL, pharmaceutical company Glenmark Pharmaceuticals, and Jammu and Kashmir Bank have declared the September quarter results. Meanwhile, due to the Coronavirus epidemic, companies have been affected. Let's know who has benefited and which company has suffered.


ITC

The integrated net profit of ITC Limited declined by 18.23 percent to Rs 3,413.44 crore in the second quarter of July-September of the current financial year 2020-21. ITC said in a report to the stock market that it had a net profit of Rs 4,174.69 crore in the same quarter of the financial year 2019-20. However, the company's operating income increased 2.17 percent to Rs 13,147.81 crore in the second quarter of the current financial year from Rs 12,867.39 crore in the same quarter of 2019-20 a year ago.


Vedanta

Vedanta's integrated net profit declined 61.8 percent to Rs 824 crore in the July-September quarter of the current fiscal. The company's profit is reduced by a one-time tax payment. In the information given to the stock market, Vedanta said that the company had a net profit of Rs 2,158 crore in the same quarter of FY 2019-20.


The company's revenue declined to Rs 21,744 crore in the second quarter of the current financial year 2020-21 from Rs 22,814 crore in the same quarter a year ago. According to Vedanta, the expenditure on tax head stood at Rs 2,370 crore in the quarter under review. Vedanta, a subsidiary of Vedanta Resources, is a natural resources company, including oil and gas.

Union Bank of India

Union Bank of India (UBI) net profit jumped 55.3 percent to Rs 517 crore on a quarterly basis in the second quarter of July-September of the current financial year 2020-21. UBI said on Friday that the bank had a net profit of Rs 333 crore in the April-June quarter of the same financial year. At the same time, banks had a net loss of Rs 1,194 crore in the second quarter of the last financial year 2019-20.

The bank's net interest income grew 6.1 percent to Rs 6,293 crore in the second quarter of the current financial year from Rs 5,934 crore in the July-September quarter of 2019-20 a year ago. UBI's gross non-performing assets (NPAs) for the July-September quarter of the current financial year stood at 14.71 percent of gross debt as compared to 15.75 percent in the year-ago 2019-20 quarter. The bank's net NPAs, or bad loans, declined to 4.13 percent in the quarter under review from 6.40 percent in the July-September quarter a year ago.

Cell

SAIL reported a net profit of Rs 436.52 crore in the second quarter of the current financial year. The company's profit has increased due to the increase in earnings. In a communication sent to the Bombay Stock Exchange, Steel Authority of India Limited (SAIL) said that the company had a net loss of Rs 285.92 crore in the same quarter a year ago. During the July-September period of the current financial year, the consolidated total business of SAIL increased to Rs 17,097.57 crore from Rs 14,282.17 crore a year ago.

The total expenditure of SAIL was Rs 16,733.63 crore during the period under review, compared to Rs 14,803.10 crore spent in the same period a year ago. The company reported a profit of Rs 393.32 crore during the period under review on a standalone basis. At the same time a year ago, the company had a net loss of Rs 342.84 crore on a single basis.

Glenmark

Glenmark Pharmaceuticals' integrated net profit stood at Rs 233.99 crore in the second quarter of the current financial year. The company had a net profit of Rs 255.54 crore in the same period of the last financial year. In the information given to the stock market, the company said that its consolidated income during the period was Rs 2,952.47 crore. The company's income was Rs 2,815.04 crore in the same period last year. The company said that its net profit due to foreign exchange gains cannot be compared to the previous year's quarter.

Jammu & Kashmir Bank

J & K Bank's net profit on a standalone basis for the second quarter of the current financial year 2020-21 was Rs 44 crore in July-September. The public sector bank had earlier reported a net loss of Rs 916.81 crore in the same quarter of the financial year 2019-20. J&K Bank had a net profit of Rs 6.50 crore for the quarter ended June 2020. The bank's total income declined to Rs 2,194.47 crore in the July-September quarter of the current financial year from Rs 2,262.94 crore in the same quarter of 2019-20 a year ago.

The bank's gross non-performing assets (NPAs) as a percentage of gross debt declined to 8.87 percent in the quarter ended September 2020 from 10.64 percent in the same quarter a year ago. The gross NPA by value was Rs 6,317.09 crore, compared to Rs 7,473.29 crore in the same quarter a year ago. The bank's net NPA stood at 3.03 percent (Rs 2,023.32 crore) for the quarter ended September 2020 as against 4.48 percent (Rs 2,942.04 crore) in the same quarter a year ago.