Sun Pharma posts Rs 1,444.17 crore net profit in June quarter
Drug major Sun Pharmaceutical Industries on Friday reported a consolidated net profit of Rs 1,444.17 crore for the June 2021 quarter, mainly on account of robust sales across markets. The company had posted a net loss of Rs 1,655.60 crore for the corresponding period of the previous fiscal.
The better-than-expected results saw its shares surging over 10 per cent on the bourses. On the BSE, the Sun Pharma stock ended 10.06 per cent, or Rs 70.75, higher at Rs 774, leading to a market cap of Rs 1,85,703.94 crore.
Consolidated sales during the period stood at Rs 9,669.4 crore, a growth of 29 per cent over the corresponding period last year and 14 per cent over the January-March quarter.
Bandhan Bank profit declines
Bandhan Bank has reported a 32.1 per cent lower net profit for the April-June quarter of 2021-22 at Rs 373.1 crore compared with Rs 549.8 crore in the corresponding period a year ago.
The bank provisioning was higher with the rise in stressed assets. Gross non-performing asset (NPA) during the quarter was 8.2 per cent against 1.4 per cent in the year-ago period. Net NPA was 3.3 per cent compared with 0.5 per cent in the year-ago period. The bank saw fresh slippages of Rs 1,661 crore during the quarter.
The bank also restructured its emerging entrepreneurs business portfolio consisting of microfinance loans worth Rs 4,057 crore and housing portfolio worth Rs 604 crore during the quarter.
Exide back in the black
Exide Industries on Friday posted a consolidated net profit of Rs 31.81 crore for the quarter ended June 30. The company had reported a consolidated net loss of Rs 13.56 crore in the April-June period of the previous fiscal. Revenue from operations stood at Rs 3,543 crore during the quarter against Rs 2,526 crore a year ago, Exide Industries said in a regulatory filing.