HDFC Bank on Tuesday reported a net profit of Rs 2,696 crore in Q1FY16, a 21% y-o-y rise, supported by higher other income. Other income grew 33% y-o-y to R2,462 crore in the June quarter. Asset quality remained almost constant with net NPA ratios moving up 2 bps sequentially and shrinking 5 bps compared with the year-ago quarter.
Cairn India on Tuesday reported a 24% drop in its June quarter net profit due to a slide in international oil prices. Net profit in April-June at R835 crore was 24% lower than R1,093 crore a year earlier. The company’s turnover also fell 41% to R2,627 crore. Cairn got $56 per barrel for oil it sold in Q1FY16, 42% than the $97 a barrel realisation a year ago.
Idea Cellular posted a better-than-expected earnings in April-June with the net profit at R930.8 crore, down 1.25% from R941.8 crore in the preceding quarter. Consolidated revenue stood at R8,798.3 crore, up 4.46% from the preceding quarter. Ebitda was at R3,228.4 crore in Q1 against R3,064.5 crore in the previous quarter.