Q1 Results Today: Reliance Industries, HDFC Bank, ICICI Bank And Other Companies In Focus

Reliance Industries, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank and Punjab National Bank reported their June-quarter results, with investors tracking changes in profit, revenue, net interest income and asset quality.

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Reliance Industries, Jio Platforms

Reliance Industries reported a 6.1% year-on-year increase in consolidated profit to ₹23,196 crore for the June quarter, compared with ₹21,859 crore a year earlier. Gross revenue rose 24.5% to ₹3.4 lakh crore from ₹2.73 lakh crore, while EBITDA increased 10.1% to ₹54,067 crore. The EBITDA margin stood at 15.9%, compared with 18% in the year-ago period.

Jio Platforms posted a 9.2% rise in profit to ₹7,764 crore, while revenue increased 11.8% to ₹39,173 crore. EBITDA grew 15.1% to ₹20,865 crore, with the margin expanding to 53.3% from 51.8%. Average revenue per user rose to ₹215.60.

Large Private Banks Report Profit Growth

HDFC Bank reported a 5% increase in standalone profit to ₹19,059.7 crore. Net interest income rose 6.7% to ₹33,534 crore, while provisions and contingencies declined 78.8% to ₹3,059.8 crore. Gross NPA increased to 1.17% from 1.15% sequentially, while net NPA rose to 0.41% from 0.38%.

ICICI Bank’s profit grew 15.9% to ₹14,804.5 crore, supported by a 12.7% rise in net interest income to ₹24,384.4 crore. Provisions declined 30.5% to ₹1,260.5 crore. Gross NPA eased to 1.38%, while net NPA increased to 0.35%.

Kotak Mahindra Bank posted a 25.6% increase in profit to ₹4,123 crore. Net interest income rose 9.2% to ₹7,928.4 crore, while provisions fell 44.7% to ₹668.1 crore.

Axis Bank reported a 22.5% rise in profit to ₹7,113.9 crore. Net interest income increased 8% to ₹14,646.1 crore, while provisions declined 43.7% to ₹2,222.5 crore.

PSU Banks And Other Financial Companies

Punjab National Bank’s profit surged 213.6% to ₹5,253.3 crore, while net interest income rose 2.1% to ₹10,798.4 crore. Gross NPA declined to 2.78% from 2.95%.

RBL Bank reported a 27% rise in profit to ₹254 crore, with net interest income increasing 12% to ₹1,654 crore. Poonawalla Fincorp’s profit jumped 391.5% to ₹307.7 crore, while net interest income rose 87.2% to ₹1,196.8 crore.

Turtlemint Fintech Solutions moved to a profit of ₹3.1 crore from a loss of ₹39.4 crore, with revenue rising 42% to ₹357.2 crore. Oberoi Realty reported a 29% increase in profit to ₹543.5 crore and a 31.7% rise in revenue to ₹1,300.9 crore.

Results Due Today

UltraTech Cement, One97 Communications (Paytm), Bajaj Healthcare, BlueStone Jewellery and Lifestyle, Canara HSBC Life Insurance Company, Indian Overseas Bank, Mahindra Logistics, Rallis India, Shyam Metalics and Energy, Sobha, Transformers and Rectifiers (India), Tourism Finance Corporation of India and Venus Remedies are scheduled to announce their quarterly results today.