NBCC reports 31% rise in Q2 net profit to Rs 81 crore

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NBCC reports 31% rise in Q2 net profit to Rs 81 crore

The company's Q2 net profit fell 60.8 percent at Rs 20 crore against Rs 51 crore in the same quarter last fiscal.

Footwear major Bata India today reported a 23.99 per cent increase in its standalone net profit to Rs 42.89 crore for the second quarter ended September 30.

Gross non-performing assets (NPAs) in absolute terms rose 15.8 per cent year-on-year at Rs 12,892.67 crore during the period under review.

The company said the results for the period are not comparable as it include the financials of Aditya Birla Nuvo Ltd (ABNL) and its subsidiaries post its merger with effect from 1 July 2017.

Also, the bank said it made an additional provision of Rs 22.06 crore in respect of standard advances to stressed sectors of the economy.

The bank's asset quality worsened further in the September quarter of the current fiscal. Income from other sources were up 11.20 per cent to Rs 1,737 crore.

On half yearly basis, net profit at Rs 2,335 crore was 32 per cent higher than year ago profit.

The deposits stood at Rs 5.83 lakh crore by end of second quarter, 2017-18 against Rs 5.67 crore.

Shares of the company settled 0.26 per cent up at Rs 456.45.

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