Q1 results today: IDBI Bank, Suzlon Energy among 44 companies to announce earnings on Monday
IDBI Bank and Suzlon Energy.
Apart from the above, companies like Allied Blenders, Coforge, Cyient DLM, Dodla Dairy, Jana SFB, Mahindra Logistics, Maharashtra Scooters, Spencers Retail, UCO Bank, Zensar Tech among others will also declare their results.
While there are no estimates for IDBI Bank's first quarter expectations, the company reported 13% growth in deposits at Rs 2.44 lakh crore, while CASA deposits rose 5% year-on-year to Rs 1.28 lakh crore.
Total business during the June quarter registered a growth of 15% year-on-year to Rs 4.1 lakh crore and net advances jumped 17% year-on-year to Rs 1.65 lakh crore.
Its March quarter standalone profit after tax stood at Rs 1,628 crore, which was about 44% higher year-on-year and net interest income (NII) rose 12% to Rs 3,688 crore vs Rs 3,280 crore on a YoY basis
Return on assets (RoA) improved by 39 bps to 1.82% for the preceding fourth quarter as compared to 1.43% for in Q4 year ago.
IDBI Bank's gross NPA ratio improved to 4.53% as against 6.38% YoY while net NPA ratio also improved to 0.34% vs 0.92% YoY.
Its Provision Coverage Ratio (including Technical Write-Offs) improved to 99.09% as on March 31, 2024, from 97.94% in the same period last year.
Meanwhile, renewable energy solutions provider Suzlon Energy on Friday reported nearly 21% decline in consolidated net profit to Rs 254 crore in the March quarter mainly due to certain exceptional items. The company reported a consolidated net profit of Rs 320 crore in the year-ago period.
Total income rose to Rs
